No EU Deal on Iran Oil Embargo Yet
Diplomats Deny French FM's Claims of Agreement
Yesterday’s claims that the European Union was on the cusp of announcing a full ban on the importation of Iranian crude oil appear to have been premature, and now it seems that the negotiations are far from complete.
The speculation came from French Foreign Minister Alain Juppe, who claimed the deal was virtually finalized and would be announced by the end of the month. EU diplomats familiar with the deal are denying that.
The diplomats, quoted anonymously by the German press, say that the deal is not close and that a number of key details surrounding the potential ban are still being discussed.
Rumors of the ban come as oil is near an eight-month high, with analysts projecting at least a 10 percent increase in the spot price of Brent North Sea Crude if Iran is cut off from the European market. Though the effort is aimed at harming Iran, it is expected they will be able to offload the addition supply to eastern Asian nations with little trouble.
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keltrava
January 6th, 2012 at 1:58 am
I repeat what I stated in my previous message. The announcement was a con. Its the usual tactic of the Israeli clandestine army embeded amonst governing organisations to make diplomats believe that every country has agreed to sanctions so individuals won't feel the odd man out.
The idea that every country has agreed to sanctions because there is no "discussion" is laughable yet amazing how many are taken in by it.
curmudgeonvt
January 6th, 2012 at 8:27 am
So the only casualties of an European embargo would be the Europeans? Whose idea was this? I'm not surprised there hasn't been an agreement reached. Can't imagine the people of the affected nations are going to stand up and cheer for this stupid plan.
Aarky
January 6th, 2012 at 6:49 pm
The Iranians are laughing their butts off because if Brent crude rises, the Iranian crude also rises. Remember when the US was stating that we wouldn't want to initiate this type of sanction because it would force up oil prices. The Iranians probably are remembering the US "Uncle Remus" story;
"Please Mr Fox, don't throw me in the briarpatch says the rabbit", which is the perfect hideout.