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Iran pledges to counter 'malicious' oil embargo

 
tarfonwxx
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07/01/2012 09:44 AM
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Iran pledges to counter 'malicious' oil embargo
Iran dismissed a European Union oil embargo which took effect on Sunday and said it was fully prepared to counter the impact of sanctions with a $150 billion war chest of foreign reserves.

[link to www.jpost.com]

Last Edited by tarfonwxx on 07/01/2012 09:44 AM
tarfonwxx (OP)

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07/01/2012 09:46 AM
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Re: Iran pledges to counter 'malicious' oil embargo
EU oil embargo on Iran comes into effect

A European Union embargo on Iranian oil went into effect on Sunday, provoking anger in Tehran which says the measure will hurt talks with world powers over its sensitive nuclear activities.

Oil market observer bodies and analysts say the embargo, coupled with US financial sanctions ramped up on Thursday, are gutting Iran's vital oil exports, which account for half of government revenues.

[link to www.google.com]
tarfonwxx (OP)

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07/01/2012 10:12 AM
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Re: Iran pledges to counter 'malicious' oil embargo
Braced against potential reprisals from Tehran, Saud Arabia and fellow Gulf nations have placed their armies on alert.

While not anticipating full-scale war, they are acutely apprehensive of possible Iranian strikes against Gulf oil fields, export terminals, pipelines or tankers either by covert Al Qods Brigades squads or local Shiite saboteurs.
Tehran has repeatedly threatened to treat an oil embargo as an act of war and close the strategic Strait of Hormuz to Gulf shipping in response.

Two days before the oil embargo went into effect, Saudi Arabia and the UAE activated two extra oil pipelines bypassing Hormuz and providing alternative routes for their oil to continue to flow to export markets if the Straits are blocked.

American and French forces went on standby at this port since Saturday. Tehran could attack both of these pipelines as one form of reprisal for the tough, new sanction.

Friday, June 29, a senior Revolutionary Guards Corp general announced that missiles with a range of 300 kilometers were to be installed on Iranian warships on duty in the vicinity of the Hormuz Straits.


debkafile’s military sources are looking at next Tuesday, when nuclear talks are due to resume at a technical level, as a critical moment for a possible Iranian response to the oil embargo.

[link to debka.com]

pretty sure by next tuesday they mean the day after tomorrow when talks resume

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