"Sanctions that Benefit" - Obama's BFF Turkey to Continue Oil Imports from Iran despite Sanctions.

"Sanctions that Benefit" - Obama's BFF Turkey to Continue Oil Imports from Iran despite Sanctions.(Fars).Turkish Energy and Natural Resources Minister Taner Yildiz said Turkey will continue importing natural gas from Iran despite the US-led western sanctions against the Islamic Republic.

Yildiz made the remarks at a press conference after a meeting with a delegation from the US House of Representatives and the Senate in Ankara on Monday.

"Turkey's oil-purchase contract with Iran expires in August. This contract will definitely be extended, because Iran covers about 45 to 40 percent of Turkey's oil needs," the Turkish energy minister said.

The Turkish energy minister noted that there is no alternative for the Iranian gas.

The United States in November expanded sanctions on global trade with Iran's energy and shipping sectors to ratchet up economic pressure on Tehran over its civilian nuclear program.

The package kept in place exemptions for countries including Turkey that made significant cuts to their purchases of Iranian crude, but new sanctions are due to take effect this year.

Yildiz said Tupras, which is controlled by Turkey's biggest company Koc Holding, will continue to buy the same amount it has been under the exemption.

The United States and many of its allies accuse Iran of enriching uranium to levels used in nuclear weapons. Iran says its atomic program is for peaceful purposes.

Turkey imports more than 90 percent of its oil and gas.

Iran and Turkey are determined to boost their trade exchanges to $35 billion in the near future.

Iran and Turkey have increased their cooperation in various fields of economy, security, trade, education, energy and culture in the recent years.

The two sides have exchanged several politico-economic delegations during the last few months.Hmmmm.....Why is Turkey allowed to tell the US congress to take a hike?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.

Related:  U.S. exempts seven countries that consume Iran oil from 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!