The Swiss have decided to defy the US Iranian oil sanctions, and will continue to purchase Iranian crude.
We don’t see Obama/Clinton locking the Swiss out of the SWIFT system, meaning the administration’s SNAFU known as the Iranian Oil Embargo just got worse.
Switzerland will continue to purchase Iranian oil in defiance of the European Union sanctions on the Islamic Republic that came into effect on July 1.
The Swiss Federal Department of Economic Affairs stated that Switzerland will not join the oil embargo against Iran, despite pressure from the United States and the EU, IRNA reported on Friday.
Switzerland says that any decision on the import, sale, and transport of Iranian crude oil and petrochemical products and their insurance coverage should be made by the parties to the trade themselves.
In response to a question by the Swiss news agency SDA/ATS, a Swiss Foreign Ministry spokesman said that Switzerland wants to maintain good relations with Iran.