Research and Analysis Corporation expert "EU in Worst Conditions to Ban Iran's Oil".

Research and Analysis Corporation expert "EU in Worst Conditions to Ban Iran's Oil".(Fars)."The EU is at its worst possible conditions," Director of the Environment, Energy, and Economic Development program at the RAND Research and Analysis Corporation Keith Crane told FNA. He downplayed effectiveness of western boycotts against Iran, and said, "Countries are able to bypass economic sanctions." Crane mentioned that big and numerous problems facing major banks have endangered the world monetary system, and thus the system cannot tolerate any more risks and pressures to be created by sanctioning one of the most important world oil producers. In relevant remarks late 2011, an Iranian foreign ministry spokesman had also said that the European Union is not in a good shape to impose a ban on oil imports from Iran, but meantime had underlined that if such an embargo is exerted on Iran, it would fail to produce any good result for the West. "Sanctions will have no impact on our nation and will rather give more motivation to our nation,"
Iranian Foreign Ministry Spokesman Ramin Mehman-Parast said in an interview with the state-run TV at the time. "Meantime Europe is grappling with acute crisis and its (EU) members have deep differences now," he added. "They will sustain more harms if they impose such an oil embargo (on Iran)," Mehman-Parast stated. He also said such moves can never deprive the Iranian nation of its rights, otherwise the EU would start sanctions on Iran's oil supply. "Surely, if they had had the ability and if they had thought that they could deprive our nation of its rights through these sanctions, they would have done it by now," he added. The EU in January embargoed purchases of Iranian crude but let those with existing contracts continue importing until July 1.Hmmmm.......Reminds me is Turkey Obama's BFF still importing 55 % of it's oil from Iran?Read the full story here.

Related: India cuts May Iran oil imports 38 pct-trade.Indian refiners cut imports from Iran by 38 percent in May from a year ago, tanker discharge data showed, in a second month of steep reductions as they switch suppliers to cushion the impact of new U.S. sanctions on Tehran, Reuters reported. The cutbacks raise New Delhi's chances of winning a waiver similar to that granted by the United States to Japan and some European countries after "substantial" reductions in their imports. India is discussing with Washington an exemption from the sanctions, which focus on banking and are being imposed over Iran's disputed nuclear programme, a source said last month. China and India are Iran's biggest crude clients and reductions in their purchases are crucial to Western attempts to crank up the pressure on Tehran. Neither has officially sought a waiver, although both have cut volumes.Among Iran's other Asian buyers, South Korea plans to halt all imports by the time the European measures hit, industry sources have said, and Japan could follow suit unless Tokyo provides a sovereign insurance guarantee for oil tankers.Hmmmmm......WHY Does nobody mention Obama's BFF Turkey their imports???Read the full story here.