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GasBuddy News Article

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China, India plan Iran oil cuts

Reuters - -- (Reuters) -

China, India and Japan are planning cuts of at least 10 percent in Iranian crude imports as tightening U.S. sanctions make it difficult for the top Asian buyers to keep doing business with the OPEC producer.

The countries together buy about 45 percent of Iran's crude exports. The reductions are the first significant evidence of how much crude business Iran could lose in Asia this year as Washington tries to tighten a financial noose around Tehran.

The cuts would add to a European Union ban on Iran oil imports, which comes into effect on July 1, to restrict the flow of vital foreign exchange to Tehran under pressure over its nuclear program.


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Submitted Feb 22, 2012 By: SkyWarnTX
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: China, India plan Iran oil cuts Back to Topics
REPLIES (newest first) Post a Reply
DanMtz
Champion Author Oakland

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Message Posted: Feb 22, 2012 5:13:20 PM

Well, it's a start.
johntxx
Champion Author Texas

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Message Posted: Feb 22, 2012 3:53:42 PM

Iran should start feeling the vise tighten. What China and India are buying is at a discount.
Gas_Eyes
Champion Author Dallas

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Message Posted: Feb 22, 2012 1:51:39 PM

Signs that the sanctions may work.
qwerty17
Champion Author New Jersey

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Message Posted: Feb 22, 2012 12:41:59 PM

took them both a month to reduce irani oil imports - BY 10%!
thanks for nothing.
the1roadhog
Champion Author Atlanta

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Message Posted: Feb 22, 2012 7:19:38 AM

Sanctions take too long but they are a better alternative than bombs away....for now.
puinsai808
Champion Author Honolulu

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Message Posted: Feb 22, 2012 7:06:41 AM

Okay.
doeslayersr
Champion Author Illinois

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Message Posted: Feb 22, 2012 5:04:38 AM

The proof will be in the pudding .... in other words ... what really happens and the results.
WeasleyOC
Champion Author Orange County

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Message Posted: Feb 22, 2012 4:51:54 AM

Let's see if they followup with action. Talk is cheap.
cmptrmush
Champion Author Detroit

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Message Posted: Feb 22, 2012 4:34:09 AM

Sooner or later Iran will upset enough countries so no one will buy their oil.
bullet226
Champion Author Toronto

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Message Posted: Feb 22, 2012 3:30:21 AM

That's cause China is now getting some of their oil from CANADA

The US didn't want to build the pipeline - remember?!!
Luckylindy
Champion Author Milwaukee

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Message Posted: Feb 22, 2012 2:49:44 AM

My guess China will really do nothing.
asog75
All-Star Author Indiana

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Message Posted: Feb 22, 2012 2:19:49 AM

i thought this was a un sanction
Dodge_Me
Champion Author Atlanta

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Message Posted: Feb 21, 2012 11:34:53 PM

Good but will probably get ugly before it gets better
vulcan96
Champion Author Ohio

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Message Posted: Feb 21, 2012 11:19:28 PM

yeah - right.....
SparkieMi
Champion Author Kalamazoo

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Message Posted: Feb 21, 2012 11:15:32 PM

REALLY???? Time will tell...
JimL1
Champion Author Phoenix

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Message Posted: Feb 21, 2012 11:14:13 PM

The USA will be glad to sell them refined products.
ScorpDrvr
All-Star Author Sacramento

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Message Posted: Feb 21, 2012 11:13:05 PM

The sanction don't stop the trading of goods (food, medicine, arms, building supplies, etc.) for the oil. Iran doesn't need to get much cash if it can get the consumables directly.
Jeeputtputt
Champion Author Ohio

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Message Posted: Feb 21, 2012 11:09:51 PM

good reason for our suppliers to "jack it up"..
HapsterNY
Rookie Author New York

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Message Posted: Feb 21, 2012 11:08:43 PM

there goes rocket sky high prices. We all better start walking or peddling.
windows7isfast
Champion Author Winnipeg

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Message Posted: Feb 21, 2012 11:05:04 PM

cool
HA4CNN
Champion Author Toronto

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Message Posted: Feb 21, 2012 11:04:03 PM

The sooner they cut all oil exports the sooner there will be war and then you will see much higher prices.
kd5kpd
Champion Author Texas

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Message Posted: Feb 21, 2012 11:01:43 PM

Action talks, BS walks!
yelobus
Champion Author Houston

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Message Posted: Feb 21, 2012 11:01:27 PM

Yeah, sure.
afghaned
Champion Author Ottawa

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Message Posted: Feb 21, 2012 11:00:56 PM

Believe it when I see it. There must've been some heavy behind the scenes negotiating.
UseLessGasFolks
Champion Author Iowa

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Message Posted: Feb 21, 2012 10:54:50 PM


Might help but I doubt it.
ssperkin
Champion Author Durham

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Message Posted: Feb 21, 2012 10:51:19 PM

China, eh. India, that will be more interesting to watch. Ally or not?
36_ACRES_4_SALE
All-Star Author Appleton

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Message Posted: Feb 21, 2012 10:50:53 PM

Good for Asia
lunarrv15
Champion Author Cincinnati

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Message Posted: Feb 21, 2012 10:44:42 PM

okay
..interesting
..thanks for posting
OWENALOTT
Champion Author Appleton

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Message Posted: Feb 21, 2012 10:44:33 PM

High import cost for the rest of us now.
Panama Red
Champion Author San Diego

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Message Posted: Feb 21, 2012 10:44:01 PM

Talk, talk, talk; let's see some action.
speedys
Champion Author Utah

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Message Posted: Feb 21, 2012 10:41:55 PM

I can bet Israel could stop all the exports.
TBONE3
Champion Author Pennsylvania

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Message Posted: Feb 21, 2012 10:41:22 PM

Talk, talk, talk.
hubcapLA
Champion Author Louisiana

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Message Posted: Feb 21, 2012 10:33:20 PM

Might work for a while
btex49
Champion Author Austin

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Message Posted: Feb 21, 2012 10:33:02 PM

Yawn... I am sure that this will prove to be ineffective.
PetroScopper
Champion Author Houston

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Message Posted: Feb 21, 2012 10:32:36 PM

If this happens it will be a major move by China and India. Moreover, it will build tighter ties with both China and India.
KnoxGasPriceSpy
Champion Author Knoxville

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Message Posted: Feb 21, 2012 10:31:41 PM

not enough...
RENEGADEGAS
Champion Author Missouri

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Message Posted: Feb 21, 2012 10:31:14 PM

I'll believe it when I see China and India actually do this.
nztyraider
Champion Author Nevada

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Message Posted: Feb 21, 2012 10:30:02 PM

Bush should've just taken the oil.
TommyTraveler
Champion Author Cincinnati

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Message Posted: Feb 21, 2012 10:28:59 PM

We may have war on our hands soon.
TheeRedRam
Champion Author Hartford

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Message Posted: Feb 21, 2012 10:28:48 PM

Cut it all
1momsunshine
Champion Author Ottawa

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Message Posted: Feb 21, 2012 10:26:25 PM

ok
DirtDauber
Champion Author San Antonio

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Message Posted: Feb 21, 2012 10:25:50 PM

Yeh, right.
gmcgas
Champion Author Atlanta

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Message Posted: Feb 21, 2012 10:24:52 PM

just 10%?
Ahking
Champion Author Orange County

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Message Posted: Feb 21, 2012 10:24:09 PM

good. good enough?
Tundralimited2009
Champion Author Dallas

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Message Posted: Feb 21, 2012 10:23:49 PM

Russia still has the exports to China and India
el_fr
Champion Author Massachusetts

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Message Posted: Feb 21, 2012 10:23:38 PM

Good
N1SJK
Sophomore Author New Hampshire

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Message Posted: Feb 21, 2012 10:21:56 PM

Yeah!
us4usa
Champion Author Missouri

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Message Posted: Feb 21, 2012 10:19:56 PM

Sooner or later Iran will be done...
roadrunnin
Champion Author Richmond

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Message Posted: Feb 21, 2012 10:17:02 PM

and the squeeze is on
no8c
Champion Author Ohio

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Message Posted: Feb 21, 2012 10:12:10 PM

Thanks for posting this article!
ifallsguy
Champion Author Arizona

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Message Posted: Feb 21, 2012 10:10:24 PM

this is news. China is cutting back on Iranian oil. Maybe they do believe that Iran is building its own bomb. Now if they would vote for sanctions against Syria in the UN
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