US Caves, Grants China 6 Month Exemption on Iran Sanctions

June 28, 2012 By 9 Comments

China called the US’ bluff, and the Obama administration folded today rather than play its 3-7 off-suit.

The US Thursday granted China and Singapore 6-month reprieves from financial sanctions over Iranian oil purchases.
The Obama team has now spared all 20 of Iran’s main oil purchasersfrom unilateral trade sanctions by locking the nations out of the SWIFT payment system.

Talk about a FUBAR situation and shooting one’s self in the foot.
Not only were the threats proven to be all hot air, but the threats of financial weapons of mass destruction against Iran’s trade partners  have resulted in the BRIC nations developing their own alternative for the SWIFT payment system, and several nations (including India) changing to gold as the payment for Iranian crude rather than dollars.

(Reuters) – The United States gave China a six-month reprieve from Iran financial sanctions on Thursday, avoiding a diplomatic spat with a country whose support it needs to try to quell violence in Syria and rein in Tehran’s nuclear ambitions.

With Thursday’s decision to grant exceptions to China, which buys up to a fifth of Iran’s oil exports, and Singapore, which buys Iranian fuel oil, the Obama administration has now spared all 20 of Iran’s major oil buyers from its unilateral sanctions.

The sanctions themselves are designed to pressure Iran to curb its nuclear program, which the West believes aims to develop nuclear weapons but which Tehran says is for peaceful purposes such as generating electricity and medical isotopes.

U.S. Secretary of State Hillary Clinton said both China and Singapore earned the reprieve by cutting imports of Iranian crude and argued the reductions by all 20 countries showed that Iran was paying a high price for its nuclear program.
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Comments

  1. Avatar of AGXIIK AGXIIK says:
    June 28, 2012 at 10:51 PM

    Don’t piss down your Chinese banker’s neck and tell him it’s raining   LOL   I guess Obumble is much better at telling the American people his health care program is not a tax than telling his Chinese overlords who they can buy oil from   What a pantywaist

  2. Avatar of Cleburne61 Cleburne61 says:
    June 28, 2012 at 11:21 PM

    How sweet it is!

  3. Avatar of Ed_B Ed_B says:
    June 29, 2012 at 12:05 AM

    The rule in US-Int’l. diplomacy harkens back to the days of Teddy Roosevelt, when he said that it is best to “speak softly but carry a big stick”.  Obummer has rewritten this as “Speak loudly and say that you have a big stick”.  Problem is, no one believes this fool any more and there is no reason why they should.

  4. Avatar of Flying Wombat Flying Wombat says:
    June 29, 2012 at 12:38 AM


    This has got to be one of the most stupid things Hillary and the other war mongering dweebs have ever done (with time, they’ll best themselves too!).  China gets one sixth of its oil from Iran and there’s no spare capacity on a real-time basis for more oil anywhere in the world that could possibly meet that magnitude of demand on any short-term time schedule (roughly 1 million barrels per day).  It was IMPOSSIBLE for China to comply even if it wanted to comply. Idiots.

  5. Avatar of UglyDog UglyDog says:
    June 29, 2012 at 12:40 AM

    Found in the fine print the Supreme Court ruled today that the Iran sanctions are a tax not an individual mandate and countries with gold to pay for oil may opt out.

  6. Avatar of Crazy Canuck Crazy Canuck says:
    June 29, 2012 at 8:38 AM

    Whatever!  More like China told the US to pound sand. 

    Better learn to speak mandarin bitches! 

    :-)

  7. Avatar of Crazy Canuck Crazy Canuck says:
    June 29, 2012 at 8:41 AM

    Whatever!  More like China told the US to pound sand. 

    If hillary keeps opening her yap, Ya better learn to speak mandarin bitches! 

    :-)

  8. Avatar of Crazy Canuck Crazy Canuck says:
    June 29, 2012 at 8:43 AM

    double postorama

  9. Avatar of Marchas45 Marchas45 says:
    June 29, 2012 at 6:54 PM

    LMAO who is controlling who LMAO Now they don’t use the dollar and now the US is kissing ass. What a frickin joke.

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