Top Russian Diplomat Rejects US Warnings Against Striking Oil Deal With Iran

[Purveyor]

Source: Associated Press

MOSCOW — A senior Russian diplomat on Wednesday angrily rejected U.S. warnings against striking an oil-for-goods contract with Iran, saying that Moscow wouldn't be intimidated by threats.

Deputy Foreign Minister Sergey Ryabkov said in remarks carried by the state RIA Novosti news agency that an increase in Russian-Iranian trade is a "natural process that doesn't involve any elements of political or economic challenge to anyone."

Russian business daily Kommersant has reported that Moscow plans to buy 500,000 barrels of Iranian oil a day, a deal that would shatter an export limit defined by an interim nuclear agreement world powers and Iran reached last year.

Iran has agreed to temporarily limit its atomic work, which the West fears could be a cover for developing nuclear weapons, in return for some sanctions relief. Six world powers, including Russia, and Iran are working on a fuller deal that would place long-term restrictions on Iran's nuclear program in exchange for an end to all economic sanctions.

Read more: http://www.startribune.com/world/254598021.html

[Demeter]

1. I think our government has gone batshit crazy.

Can't the US mind its own business? Must it go around giving threats all the time, on matters that don't even concern it?

[msanthrope]

3. Iran has sanctions against it. It bargained last year to end those sanctions.

Why shouldn't we enforce the bargain?

[former9thward]

6. The diplomatic war by the U.S. against Russia is a two way street.

Once it goes down that path all bets are off.

[dipsydoodle]

8. Sure is.

If Russia dumps all of US reserve holdings then US interest rates would increase. Smile if you've got a variable rate mortgage.

[Benton D Struckcheon]

11. Sorry, wouldn't have much of an effect.

Russia's holdings of US assets aren't large enough. It would be a blip. In a couple of days, no one would care.
I keep saying this, and getting ignored, but I'll just keep on saying it anyway: supply regions don't affect industrial countries except as irritants. Russia's an irritant, nothing more. So is Iran and Venezuela. They could all start transacting in euros, or gold, or wampum tomorrow for all that it would matter to the USD.
China counts. Europe counts. Japan counts.
Russia doesn't. Iran doesn't. Venezuela doesn't.
One day Brazil will count. If Russia keeps on making a living off energy, it won't. It will descend into poverty. It's already done so on a relative basis. If Putin continues to drag it along this economic path he's chosen, absolute decline will come as well.

[okaawhatever]

4. You have made it very clear, every chance you get that you hate the United States. The sanctions are

from the United Nations and International Atomic Energy Agency. Iran signed an agreement, then they didn't abide by it. When nuclear weapons are concerned, it is the world's problem.
Also, the US helped Iran begin a nuclear program back when we thought nuclear energy was the future. They made separate agreements in exchange for help building a reactor, etc. They are in violation of all those agreements as well.
Iran is also a state sponsor of terrorism.
If you like Iran so much, just as you love Russia and hate America, go there. If you hate the US so much, move. I wouldn't stay here if I felt the way you do. I would never live in a country where I had so much negative to say about it. Life is too short.

[former9thward]

7. "Love it or leave it!"

And oldie but goodie from the 60s.

[Ash_F]

10. The UNSC voted on the sanctions, not the UN.

The UNSC is a blight to global representation because it gives all the power to a few countries, and is mainly dominated by the US government.

But if things keep going as they are, Russia might use its veto on the next vote on Iran.

[jakeXT]

5. World reserve currency ? Petrodollar ? Turkey could continue their gas for gold deals for 6 months

Allegedly, officials at the upper-echelons of the Turkish government found a loophole in U.S. sanctions against Iran that allowed them to get what they wanted — Iranian oil/gas.

...

It was all good until January 2013, when the Obama administration decided to close this "golden loophole".

Instead of immediately charging Halkbank, though, the U.S. government essentially allowed its gold trading activities to continue until July 2013, says FP.

There are a couple reasons why the U.S. took this tack — Turkey is an important ally when it comes to Syrian policy. Plus, as we know now, the U.S. has been working out a nuclear deal with Iran.

Read more: http://www.businessinsider.com/turkey-gas-for-gold-deal-with-iran-2013-12

[JoeyT]

2. I can't imagine why they wouldn't.

We certainly wouldn't give it a second thought if someone was telling us not to do something we (or rather our ultra-rich) might derive some benefit from.

[Jefferson23]

9. Interesting...positions everyone. n/t

[Longie]

12. Oil Sales

Iran sells oil to both China and India, why not Russia?
Longie