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Expectations for Iran draws 50% of oil smuggling in Iraqi market


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7 - 4 - 2013

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Newspaper published an economic report expected the Saudi electronic through which Iran's smuggling of 50% of its oil in the Iraqi market, after the introduction of a ban on Iranian oil, which was adopted by U.S. and other European countries to pressure Tehran to comply with international resolutions concerning its nuclear program. According to the report: Iran is trying to alleviate their economic status, which depends heavily on oil in various ways to reduce losses resulting from the ban, which began to take effect, leaving only the oil from the other half you are dealing with some countries excluded from the ban. He specializes in the oil sector Rashid Abanumay the newspaper that Iran will find its marketing outlets for the smuggling of oil and promotion, but at a lower price than it is in world markets, did not rule out that the European companies and U.S.; a blind eye to it by the European Union and the U.S.; the marketing of Iranian oil on the black market marketing outlets across the most important Iraqi market, and the rest of Almsttinah from the application of the ban until the order of their positions later. He explained that most of the concerned countries in the world do not want to risk and risk in dealing with Iranian oil, so as not to find itself faced with economic sanctions could affect the economy and harm to its relations with foreign countries, the EU and U.S.. He said there are some States expressed a kind of reservation on the application of a ban on Iranian oil, so quick to request exemptions from the ban and sanctions, some states have already granted exceptions, therefore, deal with the Iranian oil by these countries is still legal and regular. And Abanumay that 50 percent of Iranian oil is marketed legally and systems in these countries, despite the fact that this quantity of oil not sold according to the legal value of the fair, namely the dollar in global markets, making Iran is forced to sell their oil at a lower price than what is found in global markets, and will work to achieve this by traders and investors of different nationalities assigned them the task of marketing on the black market after selling oil at below-peer dangers they may face if marketed illegally. He adds Abanumay that 50 per cent of the production of Iranian oil will find its way into the black market through the ports in a number of countries in the forefront of Iraq, favored commercial dealings economic between the two countries, so will Iraq by providing foreign exchange for the Iran match buy oil but at lower prices as well, drawing attention to were it not for the existence of the Iraqi market for the price of Iranian oil to very low levels, and that Syria is another outlet for the marketing of Iranian oil by virtue of common interests between the two countries, stressing that the countries of the Middle East and neighboring countries of Iran will become an outlet for marketing 50 per cent of Iranian oil in the black market. He continued: There are European and American companies will benefit from the ban, and will enter a party to the competition on the black market which companies turn a blind eye in a way or another, and perhaps the reason behind that pressure on oil prices. He explained: If the official price for a barrel of oil in world markets in the range of $ 100, and resorted European and American companies for the purchase of Iranian oil through the black market rate in the range of $ 60 a barrel, it would be a factor pressure on prices in European countries and the U.S. and lower prices, which return benefit to the world economy and European, who faces an economic crisis on the one hand, but at the same time hurt the Iranian economy, therefore, Europe and the U.S. Ngadan blind eye to these illegal practices by these companies to put pressure on prices, but most importantly the legal terms that These companies will not receive equal treatment as accorded to other countries and companies that do business under the legal umbrella, pointing out that the objective of this step is a tool to put pressure on Iran to comply with international resolutions. He says that the decision to ban and boycott in itself was due to the Iranian nuclear file, and non-compliance by Iran to international pressure, and the province were not the result of the first of July, the current validity of the application of the resolution, as the district was comprehensive and not on the Iranian oil only, before it was trading halt Iran's central bank, along with economic sanctions applied by. The Abanumay that the beginning of the application of the ban on Iranian oil on the day, you will not have a clear impact in particular that the ban has appeared since January (January), and if there was impact was supposed to appear since January (January) last year. And that the ban on Iranian oil has been gradually, it has given states and international companies, including European, American, which has dealings and contracts with Iran's oil until the end of June last, the domain of the order of their positions, and gave other countries are exceptions to the ban so you can start in the application of the resolution and only impose sanctions on American and European. It shows that most countries in the world with financial dealings and trade with Europe and the U.S., so it's hard not to its commitment to implement the ban after the deadline, otherwise will find many of the countries that do not adhere to the decision itself to the U.S. sanctions of the European, especially that most of the financial transactions the world are the dollar and the euro , so you will not accept many of the countries or companies that are vulnerable to these economic sanctions, where most of the transactions and financial transfers are made through the global financial system dominated by Europe and the U.S., and companies wishing with Iranian oil away from the ban will find it difficult also to provide cover have insurance, so any international oil company did not provide cover if you have insurance, this exposes them to risks of trade and economic activity and may undermine her graduation from the Department of the competition. On a related matter, says Abanumay that a number of countries expressed a desire to its ability to increase production to make up the shortfall caused by the decision to ban Iran's oil, Mishra that the impact of lack of Iranian oil in the global economy is not measured at all the size of the effect of the Iranian economy Ntgah implementation of the resolution. He said that Iran's oil production in the range of 2.7 million barrels, and when he graduated this quantity or a large part of them, the damage on the global economy is very small compared to the harm that will be attached to the Iranian economy. And that between two million barrels of Iranian oil will find their way to international markets, but prices are very few, and perhaps this will not affect the global system as far as its effect on the Iranian economy.

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