The EU is becoming skeptical about putting sanctions on Iranian oil as unease grows that the...


The EU is becoming skeptical about putting sanctions on Iranian oil as unease grows that the move would hurt the European economy more than it would Iran, Reuters reports. However, Saudi Arabia would consider raising supplies if Iranian oil was lost.
Comments (3)
  • bob adamson
    , contributor
    Comments (4560) | Send Message
     
    Note as well that Greece recently vetoed EU sanctions against Iran as it (Greece) relies on Iran for its oil imports as the following article shows.

     

    http://bit.ly/uPgC5U
    5 Dec 2011, 12:23 PM Reply Like
  • kmi
    , contributor
    Comments (4579) | Send Message
     
    Meh, Europe now owns Libyan oil and merely needs to boost production in the same manner it did it in Iraq and loss of Iranian oil will barely be felt.

     

    Iran produces what, 2.5m bpd of sour stuff? And Iraq post-intervention produces what, almost 1m bpd more than it ever has? So pull another 1-1.5m bpd or so out of Libya with Western 'efficiency' and no problem, we can spend a few billion blowing Iran up and another trillion or so rebuilding it.

     

    Greece had a frigate over in Libya, maybe it will get a piece of that oil pie and stop worrying about Iranian oil....
    5 Dec 2011, 12:29 PM Reply Like
  • bob adamson
    , contributor
    Comments (4560) | Send Message
     
    Here is a December 6th update on Greece and the EU Iran oil sanctions issue

     

    http://bit.ly/rZpfEo
    7 Dec 2011, 12:43 AM Reply Like
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