Europe folds like a cheap suit – winds down import of Iranian oil

 

This didn’t take long now did it? Europe huffs and puffs.The media are so sure that Trump is wrecking our important relationships with our allies across the pond.

This as we just celebrated D-Day when we gave up our precious treasure of blood and life of our  young men for them. And Germany? What penance are you willing to give to us for us having to shed blood twice last century for your attempt at self-aggrandizement.

Even today, we pay for Europe’s security and now we ask you all to kick into the kitty by engaging in FAIR trade with us. So we want Europe’s support in fixing the feckless Iranian deal. After much bluster it looks like they are caving like a cheap suit:

After an initial hesitance over how the returning U.S. sanctions will affect Iran’s oil buyers, European refiners are beginning to wind down purchases from Iran after tanker providers, insurers, and banks began to shun Iranian deals and destinations for fear of exposing themselves to secondary sanctions.

Several large European companies in France, Spain, Italy, and Greece are reportedly admitting that they won’t risk U.S. sanctions and are unable to find tankers and insurer providers willing to facilitate shipments of Iranian oil to Europe, Reuters reported on Wednesday, citing company and trading sources.

Iran’s total oil exports have averaged around 2.5 million bpd in recent months, peaking in April, just before the U.S. withdrew from the Iran nuclear deal. Iran says that its May oil exports were higher than this year’s average, but it now looks like European refiners are choosing not to risk and have started to figure out ways to wind down Iranian oil purchases.

Iran’s oil exports to Europe account for around one-fifth of the total, while most of the Iranian crude goes to China and to India.

“We cannot defy the United States,” a senior source at Italy’s Saras, which operates a 300,000-bpd refinery on the island of Sardinia, told Reuters.

“It is not clear yet what the U.S. administration can do but in practice we can get into trouble,” the source noted.

A drop in crude trading between Iran and Europe could complicate efforts by the European signatories of the nuclear deal – France, Germany and Britain – to salvage the agreement.

Refiners including France’s Total, Italy’s Eni and Saras, Spain’s Repsol and Cepsa as well as Greece’s Hellenic Petroleum are preparing to halt purchases of Iranian oil once sanctions bite, the sources said.

H/T: Oilprice.com

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The Iran hearing that no one covered. Bombs by July, why do they lie?

Search as I might, I could find precious little on the Iran hearing held yesterday, covered by C-Span. It was a damning acknowledgement that the administration’s refusal to release the agreement of suspension of sanctions to the public would reveal that the administration did not understand the technical aspects to which they agreed, or did and did not want it to see the light of day because it would reveal their evilness. Either way, Obama has been had, as well as the United States. One can only wonder if the mischievous Iranian born Valerie Jarrett or Kerry’s Muslim in-laws who still live in Iran, had a hand or was the cause of this treachery. PJ Media was one of the few sources I could find. First-

Is Kerry being blackmailed with his Iranian family ties? November 27, 2013 — bunkerville

“But what if the regime simply decides to round up Nahed’s family members and torture them? Or sends its goons to visit them at home? Or exerts some form of more subtle pressure on them that gets no publicity, and then makes it known they want the United States to release Iranians jailed in the United States on terrorism charges or for attempting to procure weapons technology or military spare parts”?

WASHINGTON — President Obama heartily defended his nuclear deal with Iran at the State of the Union, vowing to veto a sizable bipartisan movement in Congress to keep sanctions pressure on the Islamic Republic. But here is the real story:

“Iran will remain perilously close to a nuclear weapon. The joint plan of action allows Iran to continue to produce 3.5 percent enriched uranium which is the key starting material for any Iranian effort to produce HEU for weapons. Iran’s stockpile of this material will continue to grow during the course of this nuclear deal, though several White House statements, as well as Secretary Kerry, have incorrectly claimed otherwise.”

Jones warned that “as this stockpile of enriched uranium grows, the number of nuclear weapons that Iran can produce from it will grow as well.”

“Iran’s stockpile of 3.5 percent enriched uranium in the form of uranium hexafluoride is not supposed to grow. Iran is supposed convert the excess into an oxide form, but Iran can easily convert this material back into hexafluoride once it begins to produce nuclear weapons,” he added. “This fact is well known to U.S. technical experts, but their input was apparently either not sought or heeded.”

“For the sake of our national security, we must give diplomacy a chance to succeed,” Obama said, getting not as much applause as he may have hoped from the joint session.

Gregory Jones, senior researcher of the Nonproliferation Policy Education Center, told a joint hearing of the House Foreign Affairs subcommittees on the Middle East and North Africa and Terrorism, Nonproliferation and Trade that the Obama administration has engaged in “mischaracterization of the deal’s benefits and the denial of the deal’s great flaw.”

Slide over for the full story at  PJ Media » Iran Could Have Enough Fuel for Four Bombs by July Under Administration’s Deal

UPDATE: I just found this clip:

Joe Wilson sanction vote count “you lie” in Congress

Republicans mocked the debate and vote as a pointless distraction from difficult questions before the US Congress, such as the feuding over Obama’s push to remake US health care and worries over the war in Afghanistan
Here is the vote tally: 240-to 179. Here is the link for individual votes.

http://clerk.house.gov/evs/2009/roll699.xml

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