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| Syria-Lebanon-Iran | ||
| Obama says enough world oil to crack down on Iran sales | ||
| 2012-03-31 | ||
In his decision, required by a sanctions law he signed in December, Obama said in a statement that increased production by some countries as well as "the existence of strategic reserves" helped him come to the conclusion that sanctions can advance. "I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran," Obama said.
Obama is required by law to determine by March 30, and every six months after that, whether the price and supply of non-Iranian oil are sufficient to allow consumers to "significantly" cut their purchases from Iran. The law allows Obama, after June 28, to sanction foreign banks that carry out oil-related transactions with Iran's central bank and effectively cut them off from the US financial system. "Today, we put on notice all nations that continue to import petroleum or petroleum products from Iran that they have three months to significantly reduce those purchases or risk the imposition of severe sanctions on their financial institutions," said Senator Robert Menendez, co-author of the sanctions law. Obama can offer exemptions to countries that show they have "significantly" cut their purchases from Iran. Washington recently exempted Japan and 10 EU countries from the sanctions because they have cut Iranian oil purchases. "We welcome the President's determination and applaud the Administration's faithful implementation of the Menendez-Kirk amendment," said a spokesman for Senator Mark Kirk, a Republican who has pushed for additional measures. "To build on this momentum, we hope the Senate will consider amendments to the pending Iran sanctions bill that would continue to increase the economic pressure on the Iranian regime," the Kirk spokesman said. | ||
| Posted by:Steve White |
| #3 See also TOPIX > THERE IS NO MILITARY OPTION ON IRAN. "Enough oil on the world markets" > IMO this shows that the US-World is not facing a "Peak Oil/Gas" Crisis, by + for OWG-NWO - iff we were, the only prgamatic options for the US would be NO IRAN WAR PERIOD, i.e. the US-Israel-World must accept a NUCLEAR IRAN + NUC RADICAL ISLAMISM INCLUD MILTERRS; or else BLITZKRIEG GROUND WAR ON IRAN, espec to reduce the levels of tote oil consumption for purposes of war. |
| Posted by: JosephMendiola 2012-03-31 23:15 |
| #2 Determined? This POS makes me sick every time he opens his yap. What will his 'determination' be when SCOTUS kills Obambicare? |
| Posted by: USN, Ret. 2012-03-31 11:40 |
| #1 Manipulating global energy markets now is he? |
| Posted by: Besoeker 2012-03-31 02:13 |