Obama and Clinton seem to have a strong hand to play in 2012,
as a result of Obama signing US sanctions on Iran and it's
nuclear program into law on New Years Day.
Reuters
By Robin Pomeroy
TEHRAN | Thu Jan 5, 2012
Screws tighten on Iran as big buyers shun its oil
(Reuters) -
Quote:
Iran faced the prospect of cutbacks in its oil sales
to China and Japan as new measures to block Tehran's crude exports
over its nuclear program appeared to be driving its economy to the wall.
The developments in Asia on Thursday followed news 24 hours earlier
that EU leaders had agreed to halt European purchases of Iranian crude.
China, Iran's biggest trade partner, had already cut its purchases of Iranian oil
by more than half this month and would extend the cuts to February,
a Beijing-based trader who deals with Iranian oil said.
Japan would consider cutbacks in its Iranian oil purchases to secure a waiver from new U.S. sanctions
Between them, China, the EU and Japan buy about half of Iran's exports of 2.6 million barrels of oil per day.a<snip>
The new U.S. law allows Obama to offer waivers to prevent havoc in oil markets,
but to receive the permits countries are expected to demonstrate that
they are reducing ties with Tehran.
Washington has said it is discussing with allies how to apply the law gradually
to tighten the screws on Tehran without causing an oil supply shock.
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Iran's neighbors may appear to be going along with the US sanctions,
but push back may be just behind a curtain.
MIDDLE EAST NEWS
MARC CHAMPION
JANUARY 6, 2012
Turkish Visit Aims to Smooth Ties With Tehran
Caught Between Neighbor and the West, Ankara Seeks to Avoid Sunni-Shia Conflict
Quote:
ISTANBUL—Turkey's Foreign Minister Ahmet Davutoglu on Thursday
reassured Iran that Ankara wouldn't allow Turkish soil to be used for any attack against a neighbor,
during a trip to Tehran focused on averting a Sunni-Shia "cold war" in the region.<snip>
Though not binding on Turkey, the U.S. sanctions would penalize Turkish companies
that buy Iranian oil, unless they can secure a special waiver.
Turkey gets 30% of its oil from Iran and is among Iran's top consumers of crude,
at just over 200,000 barrels a day. Halting those purchases would severely antagonize Tehran,
which says its nuclear program is purely civilian, analysts say.<snip>
As U.S. forces leave Iraq, Turkish diplomats say they have become increasingly concerned
over the risk that sectarian conflicts could partition the country among Shiites, Sunnis and Kurds.
A partitioned Iraq could also inflame Turkey's troubles with its own Kurdish militants
from the Kurdistan Workers' Party, or PKK, analysts say.
Iran, Iraq and Syria all border Turkey.
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