Send a Tweet
Most Popular Choices
Share on Facebook 2 Share on Twitter 3 Printer Friendly Page More Sharing
OpEdNews Op Eds   

Europe's Losing Game

By       (Page 1 of 4 pages)     (# of views)   No comments
Author 194
Message Stephen Lendman
Become a Fan
  (193 fans)

Europe's Losing Game - by Stephen Lendman

America's oil embargo on Iran will fail.

Partnering with America has consequences.  Europe's paying by shooting itself in the foot. 

On January 23, EU representative for foreign and security affairs, Catherine Ashton, broke the news. She announced an "unprecedented" anti-Iranian oil embargo, effective July 1 and immediately from new contracts.

The ban covers crude oil, petroleum and petrochemical products, oil related business, equipment and technology, selling Tehran refined products, new investments, and dealing with its central bank.

Europe buys up to 20% of its oil from Iran. Ending it means greater strain on economically stressed countries. Making up lost volume won't be easy. Putting lipstick on this pig doesn't wash.

Alternatives are few and far between. Claiming Saudi Arabia can compensate is false. Iran's reserves are third largest globally. No combination of Gulf states can replace its shipments.

Seyyed Emad Hosseini , Iran Majlis (parliament) Energy Committee spokesman said:

Next Page  1  |  2  |  3  |  4

 

News 2   Interesting 2   Must Read 1  
Rate It | View Ratings

Stephen Lendman Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The McCain-Lieberman Police State Act

Daniel Estulin's "True Story of the Bilderberg Group" and What They May Be Planning Now

Continuity of Government: Coup d'Etat Authority in America

America Facing Depression and Bankruptcy

Lies, Damn Lies and the Murdoch Empire

Mandatory Swine Flu Vaccine Alert