Pakistan in the Middle of Saudi, Iran and Rival Pipeline Plans

Astute News

A tweet roared like announcing a blockbuster premiere and sanctions did engulf Iran on time – despite opposition from Russia, China and the EU-3 (France, Germany and the United Kingdom), who still support the United-Nations endorsed Iran nuclear treaty.

Iranian President Hassan Rouhani has called this an economic war waged by a “bullying power”.

The US has imposed sanctions on Iranian shipping, finance and energy exports, blacklisting 700 people. They target the EU special mechanism to facilitate purchases of Iranian oil, a sort of alternative international payment system, and threats persist about cutting Iran completely off the Swift system (although several Iranian banks are already suspended).

There are also “temporary waivers” related to oil exports granted mostly to China, India, Japan, South Korea, Taiwan and Turkey, plus two Italy and Greece. This means that in the real world, beyond all the bluster, there’s no way to downgrade Iranian oil imports…

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