referring to "We will certainly be requesting that their oil imports go to zero without question by Nov. 4th," the official said of other countries' purchases of Iranian oil. Photo: GettyTwo weeks ago, Andrew Peek, deputy assistant secretary of State for Iran and Iraq, said the U.S. was prepared to issue waivers if countries made major reductions in Iran oil imports. A crew member working in the engine room of the oil tanker 'Devon' in March as it prepared to sail to to pick up crude oil in Iran for export. European refiners say they have already started buying more oil from Saudi Arabia, Russia and Iraq to make up for upcoming reductions in Iranian oil. Some analysts say China's government will likely keep importing Iranian crude, banking on Washington's desire for its cooperation on North Korea.
collected by :Frank Ithan
Iran Overtakes Saudi Arabia to Become Second Largest Oil Supplier to India Amid US Sanctions Threat
A Clash Between U.S. And Iran Could Send Oil Prices Above $100 And Bad News For China
as declared in If that turns out to be the case, it will disrupt Middle East oil supplies and push crude oil prices above $100 level. That could be bad news for China – because the Middle East supplies close to 50% of China's oil imports. It could be good for Russia, which will have to sell more oil to its own allies, including China. They, too, want to be the guarantors of the free flow of oil supplies to its own European and Asian allies, including China. Thus, there is a potential for open military confrontation between the two countries that could send oil prices soaring.collected by :Frank Ithan
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