Iran Set to Turn Off Oil Supply to Europe

[Skippy00004]

http://www.spiegel.de/international/world/0,1518,811507,00.html

It's a move which has tit-for-tat written all over it, but one which could nonetheless have a serious impact: The Iranian government wants to present a bill to parliament this weekend calling for an immediate halt to oil deliveries to Europe. The move, with most reports citing the Iranian news agency Mehr, has come about in response to the EU agreement to impose sanctions against Iran, which were announced earlier this week.

The sanctions banned any new contracts for buying oil from Iran, but allowed existing deals to continue until July in order to give countries time to find other sources. But that process is now at risk after the latest move from Tehran, a step the Iranian government had already threatened.
"If this bill is passed, the government will be forced to stop selling oil to Europe before the actual implementation of their sanctions," said Emad Hosseini, spokesman for the Iranian parliament's energy commission, reportedly said. The bill is set to become law on Sunday.

The EU sanctions allow for oil deliveries from Iran until July 1. Any pre-empting of this timescale by Tehran could prove problematic for countries like Italy, Greece and Spain, who would need to urgently find new suppliers.

China, meanwhile, a major importer of Iranian oil, has also criticized the EU sanctions. The Xinhua news agency quoted the Chinese Foreign Ministry on Thursday as saying: "To blindly pressure and impose sanctions on Iran are not constructive approaches."

Economic Consequences

Many members of the EU are now heavily dependent on Iranian oil. Some 500,000 barrels arrive in Europe every day from Iran, with southern European countries consuming most of it. Greece is the most exposed, receiving a third of all its oil imports from Iran, but Italy too depends on Iran for 13 percent of its oil needs. If this source were to dry up abruptly, the economic conditions in the two struggling countries could become even worse.
Already on Wednesday, the International Monetary Fund (IMF) warned of the economic consequences of the EU's planned embargo. Stopping deliveries from the world's fifth largest producer could drive up the price of oil by 20 to 30 percent.

And the prices of different types of oil did rise on Thursday, albeit only slightly. In the morning, the cost of a barrel of North Sea Brent Crude was $110.73, 92 cents more than on Wednesday. The price of a barrel of WTI from the US was up 81 cents at $100.21.

[JohnyMac]

So the EU crash will come quicker. Which means that our collapse will come sooner too.

Europe is the key here. If "they" (Iran, Moslem Brotherhood, Soros, China, etc) help to tip the EU we will then be pulled into the chasm of depression and maybe collapse along with them.

[WhiteWolf]

If they're going to do it I wish they'd just stfu and get it over with already. I hate when people keep threatening crap and procrastinating on the delivery.

[RS762]

If they're going to do it I wish they'd just stfu and get it over with already. I hate when people keep threatening crap and procrastinating on the delivery.

kinda tough when the stakes are WW3

[WhiteWolf]

If they're going to do it I wish they'd just stfu and get it over with already. I hate when people keep threatening crap and procrastinating on the delivery.

kinda tough when the stakes are WW3

Well it's coming regardless. Would you rather it happen now or after Obama slashes our military spending and a ton of our guys? People in general are just skimming the surface with all this political and economics crap rather than digging in to the roots of this problem. Also, I doubt greatly that the US, UK, etc. will be the ones to attack. They'll probably stir up Israel and use them as a scape goat to avoid "blowback." Either way it's coming and it'll keep coming until people wake the heck up.

[RS762]

Inevitability based on what?
Dogma and prophecy?

[Skippy00004]

Inevitability based on what?
Dogma and prophecy?

So you don't think that we're headed for any tough times and/or another war?

[RS762]

Inevitability based on what?
Dogma and prophecy?

So you don't think that we're headed for any tough times and/or another war?

i most certainly do.
However i don't see World War 3 as an inevitability by any means.
If we stopped acting a fool on every front we could probably avoid one, im just not ready to accept the death of what could possibly be hundreds of millions of people (each WW the number gets  bigger) over stupid political and religious bullshit (from all sides, not singling anyone out).

[mountainredneck2051]

nothing is inevitable when were talking governments...........

 this shit has however put a spark under my ass to really square my shit away in all aspects, so thank you iran

[gapatriot]

I say good for Iran it's a great big fuck you to the EU. They wanted to inpose sanctions to screw Iran but Iran is going to get the last laugh.

[WhiteWolf]

Inevitability based on what?
Dogma and prophecy?

Hey man, no offense taken, but the way I see it no one as of yet has been able to prove any of the biblical prophecies wrong. When you do let me know. The real ass backwards thing here is these governments and peoples should see the prophecies as a warning sign yet the keep plowing straight through being totally defiant. As long as they do that it's definitely inevitable. Religion aside I think it's just as obvious, but whatever I'm sure all us preppers, survivalist, etc. are just paranoid for no reason.......

[Alex1992]

I think its time to say OH SHIT

[JohnyMac]

Man O' man there is a lot of saber rattling go on out there in the Middle East.

Is it due to our 24/7 news cycle, actual threat of war, China's desire to keep the region unstable, George Soro's shorting the ? or Barry working on his "Wag the Dog" script for this summer?

Hey...I smell a poll. 

[RS762]

Inevitability based on what?
Dogma and prophecy?

Hey man, no offense taken, but the way I see it no one as of yet has been able to prove any of the biblical prophecies wrong. When you do let me know. The real ass backwards thing here is these governments and peoples should see the prophecies as a warning sign yet the keep plowing straight through being totally defiant. As long as they do that it's definitely inevitable. Religion aside I think it's just as obvious, but whatever I'm sure all us preppers, survivalist, etc. are just paranoid for no reason.......

Come on guys this is fucking ridiculous, like the first comment "you don't think we're in for tough times?" of course i fucking do, that's why im here. Stop being so cunty. When we are talking about something as huge as WORLD WAR 3 why should i accept it as a forgone conclusion when there is time, and there are ways to change it?

I don't think you guys understand what the realization of a Third World War would entail. Worse yet I think some of you want it to happen.

[mountainredneck2051]

last thing i want is WWIII

i dont want to fight nobody

[EJR914]

Yep, I'd rather be left the fuck alone that have to fight and kill a lot of people...