"Sanctions That Benefit" - US code may grant Iran oil exemption to Turkey.

"Sanctions That Benefit" - US code may grant Iran oil exemption to Turkey.(HD).The new sanctions on Iran, prepared and approved by the US Senate, are waiting for a Congress and Obama approval. It does not touch oil exemptions. A broader range of economic sanctions on Iran, which were approved by the U.S. Senate last week, will probably keep in place exemptions for countries that have made significant cuts to their purchases of Iranian crude oil, but the code, when approved by the House of Representatives and U.S. President Barack Obama will bring extra burdens for Ankara, as it aims at cutting Turkey’s gas trade with Iran de facto by gold. The senators who prepared the code, had pledged for cutting Turkey’s “gold for gas game.” Turkey’s oil imports from Iran fell by a sharp 30 percent in October on the eve of the revision on exemptions. India, China and South Korea also cut their oil imports from the Islamic republic.Hmmmm.......Like the previous time he's helping his BFF Turkey.Read the full story here.

Related - As expected Obama will give BFF Turkey a waiver from sanctions, they ‘only’ import 45 percent of their oil from Iran and aid Iran avoiding sanctions.

Obama administration officials didn't say how much the seven countries had cut their oil purchases. In March, U.S. officials signaled that they were seeking reductions of 15% to 22% of purchases.

Several large countries, including India and Turkey, said publicly that they were reluctant to reduce imports of Iranian oil because of their long reliance on the Islamic regime. They appear to have met the minimum level of cooperation that Washington demanded, however.How Much did Turkey actually 'reduce' it's inports??

Answer:
Before May, Turkey was the only buyer in Europe to increase purchases from Iran, while other European refiners cut back on imports of the crude ahead of an impending EU oil embargo due to take effect from July 1.In the first four months of 2012, Turkey imported 210,000 barrels per day of Iranian oil on average, including a huge 270,000 bpd in March, much higher than its 2011 average of 185,000 bpd.

In May Turkey's state-controlled refining company, Tupras, imported around 140,000 barrels per day (bpd), a 20 percent drop from its 2011 average, according to the latest shipping data, obtained by Reuters. Port data showed 152,000 tonnes of Iranian crude was delivered to the port of Aliaga in May, while 443,000 tonnes of Iranian crude was delivered to its second import terminal, Tutunciflik. Tupras is expected to import the same volume in June.
From July 1, Turkey will remain effectively the sole buyer of Iranian crude in Europe. Official trade data showed that in the first four months of this year, Iran accounted for about 58 percent of Turkey's near 6 million tonnes in total crude imports.
THIS REDUCTION IS A PURE SMOKESCREEN APPROVED BY THE OBAMA ADMIN!