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Falling oil prices put Iran over U.S. sanctions barrel

Reuters -- For most of this year, the threat of tough U.S. sanctions on Iran, the world's third-largest oil exporter, helped push crude oil prices higher and higher, adding a menacing headwind for struggling global economies.

But in the past few weeks, a combination of higher output from Iran's rival Saudi Arabia and economic troubles in China and Europe have pushed oil prices down 25 percent, putting the threat of sanctions back squarely on Iran.

As June 28 approaches - the day the law allows U.S. President Barack Obama to enforce sanctions on countries that do oil deals with Iran's central bank - Washington is revving up efforts to tighten the squeeze on Tehran.

Lawmakers in Congress hope to finalize in July a new package of sanctions aimed at further crippling Iran's oil revenues after ...

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Submitted Jun 27, 2012 By: BurntOrange

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OWENALOTT Champion Author Appleton Posts:2,182 Points:500,095 Joined:Apr 2011	Message Posted: Jun 28, 2012 9:34:17 PM Ignore OWENALOTT Report Abuse Thank you for posting. interesting read.
sparky808 Champion Author Honolulu Posts:2,993 Points:597,510 Joined:Sep 2011	Message Posted: Jun 28, 2012 1:19:23 PM Ignore sparky808 Report Abuse Thank you for posting.
CDMAuto Champion Author Connecticut Posts:3,788 Points:752,940 Joined:Apr 2011	Message Posted: Jun 28, 2012 8:16:08 AM Ignore CDMAuto Report Abuse sactions do not work
Ahking Champion Author Orange County Posts:3,502 Points:602,520 Joined:May 2011	Message Posted: Jun 28, 2012 1:53:43 AM Ignore Ahking Report Abuse get it done soon.
RogerB Champion Author Indianapolis Posts:18,056 Points:2,623,135 Joined:Dec 2005	Message Posted: Jun 28, 2012 12:26:20 AM Ignore RogerB Report Abuse What most people don't realize is that Obama has already granted so many waivers to countries that the sanctions have become quite watered down and arguably meaningless.
jtfftj Champion Author New Hampshire Posts:2,176 Points:1,247,305 Joined:Sep 2005	Message Posted: Jun 28, 2012 12:08:12 AM Ignore jtfftj Report Abuse Time for OPEC to wake up to shake up.
Toppers Champion Author Atlanta Posts:9,007 Points:2,469,720 Joined:Mar 2005	Message Posted: Jun 28, 2012 12:06:34 AM Ignore Toppers Report Abuse Hopefully
Bleeder Champion Author Virginia Posts:8,038 Points:1,699,625 Joined:Jan 2008	Message Posted: Jun 28, 2012 12:04:33 AM Ignore Bleeder Report Abuse And Iran probably still won't budge.
northshoreMN Rookie Author Twin Cities Posts:11 Points:40,045 Joined:Jul 2009	Message Posted: Jun 28, 2012 12:01:32 AM Ignore northshoreMN Report Abuse What most people don't realize is that Obama has already granted so many waivers to countries that the sanctions have become quite watered down and arguably meaningless.
whaboush Champion Author Richmond Posts:1,233 Points:730,660 Joined:Nov 2010	Message Posted: Jun 28, 2012 12:01:15 AM Ignore whaboush Report Abuse grrr
Jeeputtputt Champion Author Ohio Posts:3,002 Points:677,465 Joined:Aug 2009	Message Posted: Jun 28, 2012 12:01:07 AM Ignore Jeeputtputt Report Abuse correct?
Vette1967 Champion Author Albany Posts:5,957 Points:1,274,050 Joined:Jun 2009	Message Posted: Jun 27, 2012 11:55:00 PM Ignore Vette1967 Report Abuse Okay..
pgerassi Champion Author Milwaukee Posts:10,891 Points:2,130,630 Joined:Apr 2007	Message Posted: Jun 27, 2012 11:54:37 PM Ignore pgerassi Report Abuse ok
Hoporrene Veteran Author Mississippi Posts:312 Points:206,970 Joined:Dec 2011	Message Posted: Jun 27, 2012 11:53:35 PM Ignore Hoporrene Report Abuse Oh for real
OOXXFF Champion Author Greensboro Posts:3,053 Points:1,077,455 Joined:Sep 2009	Message Posted: Jun 27, 2012 11:53:17 PM Ignore OOXXFF Report Abuse Good.
Jeannemarie Champion Author Las Vegas Posts:27,700 Points:2,035,640 Joined:Aug 2005	Message Posted: Jun 27, 2012 11:48:47 PM Ignore Jeannemarie Report Abuse Stick your nose out too far and someone will lop it off.
WIPACKERFAN Champion Author Chicago Posts:8,799 Points:1,842,475 Joined:Aug 2005	Message Posted: Jun 27, 2012 11:40:23 PM Ignore WIPACKERFAN Report Abuse OK
regout Champion Author Quebec Posts:2,950 Points:831,730 Joined:May 2010	Message Posted: Jun 27, 2012 11:40:07 PM Ignore regout Report Abuse Ok
dave1745 Champion Author Gary Posts:1,262 Points:737,250 Joined:Dec 2010	Message Posted: Jun 27, 2012 11:35:26 PM Ignore dave1745 Report Abuse good
suchont Veteran Author Los Angeles Posts:308 Points:166,715 Joined:May 2012	Message Posted: Jun 27, 2012 11:32:58 PM Ignore suchont Report Abuse .
Sportdeck Champion Author Atlanta Posts:12,954 Points:2,479,490 Joined:Sep 2003	Message Posted: Jun 27, 2012 11:28:41 PM Ignore Sportdeck Report Abuse Good!
abcdMA Champion Author Worcester Posts:7,917 Points:1,574,005 Joined:Nov 2008	Message Posted: Jun 27, 2012 11:22:52 PM Ignore abcdMA Report Abuse the squeeze is on
mcmonsta Champion Author Honolulu Posts:3,222 Points:816,820 Joined:Sep 2009	Message Posted: Jun 27, 2012 11:21:43 PM Ignore mcmonsta Report Abuse keep pumping saudi arabia, keep squeezing iran to the rest of the world so we are not held prisoners by them!
AnObserver Champion Author New Jersey Posts:8,354 Points:2,257,780 Joined:Sep 2005	Message Posted: Jun 27, 2012 11:15:51 PM Ignore AnObserver Report Abuse Wasn't that the idea to hurt Iran?
jessek Champion Author Detroit Posts:2,657 Points:1,280,490 Joined:Sep 2008	Message Posted: Jun 27, 2012 11:14:46 PM Ignore jessek Report Abuse Whether we like it or not they have the right to deal with whomever they want.
Ray_10589 Champion Author New York Posts:4,941 Points:1,182,010 Joined:May 2009	Message Posted: Jun 27, 2012 11:13:58 PM Ignore Ray_10589 Report Abuse not in the NE
drz614 Champion Author Harrisburg Posts:2,294 Points:596,645 Joined:Aug 2011	Message Posted: Jun 27, 2012 11:10:28 PM Ignore drz614 Report Abuse washington involved? surely they will get this right too. LOLOL
Sam195 Champion Author San Bernardino Posts:8,085 Points:1,574,100 Joined:Oct 2008	Message Posted: Jun 27, 2012 11:09:33 PM Ignore Sam195 Report Abuse $80/bbl is killing OPEC. RIP, ya bunch of losers.
DABEE1073 Champion Author San Diego Posts:8,195 Points:1,571,135 Joined:Jun 2008	Message Posted: Jun 27, 2012 11:07:38 PM Ignore DABEE1073 Report Abuse POOR IRAN! LIKE THEY DID NOT CAUSE ALL OF THE OWN PROBLEMS.
95Vette Champion Author Missouri Posts:2,515 Points:631,155 Joined:Sep 2005	Message Posted: Jun 27, 2012 11:06:52 PM Ignore 95Vette Report Abuse Doubtful we will see the follow thru.
LaVonneK Champion Author Iowa Posts:2,935 Points:625,550 Joined:Jul 2011	Message Posted: Jun 27, 2012 11:05:59 PM Ignore LaVonneK Report Abuse Oh.
Brunduski All-Star Author Missouri Posts:526 Points:188,810 Joined:Jun 2012	Message Posted: Jun 27, 2012 11:03:34 PM Ignore Brunduski Report Abuse Is there really any question that we are not going to follow through with our sanctions?
mgune9 All-Star Author Dallas Posts:914 Points:200,395 Joined:Feb 2012	Message Posted: Jun 27, 2012 11:01:51 PM Ignore mgune9 Report Abuse don't trust them anyway
altima2008 Champion Author Philadelphia Posts:8,155 Points:1,736,040 Joined:Apr 2008	Message Posted: Jun 27, 2012 11:01:22 PM Ignore altima2008 Report Abuse Maybe nobama should let his wife handle things, she probaly couldn't do any worse than him!
JAM11MS All-Star Author Mississippi Posts:830 Points:451,175 Joined:Feb 2011	Message Posted: Jun 27, 2012 11:01:06 PM Ignore JAM11MS Report Abuse obama will be known as the worst president ever, not based on race just fact.
Edtx2009 Champion Author Houston Posts:1,981 Points:374,355 Joined:Jun 2009	Message Posted: Jun 27, 2012 11:00:53 PM Ignore Edtx2009 Report Abuse See, what did I say embargo Iran's oil and gas prices will go up. Kind of like cutting off your nose to spite your face.
CPGas1815 Champion Author Michigan Posts:6,027 Points:1,099,605 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:57:31 PM Ignore CPGas1815 Report Abuse It would sure be nice to see gasoline prices decrease 25%.
mobil1MN All-Star Author Minnesota Posts:664 Points:1,294,635 Joined:Sep 2007	Message Posted: Jun 27, 2012 10:56:07 PM Ignore mobil1MN Report Abuse great
mdskier Champion Author Maryland Posts:9,932 Points:1,782,550 Joined:Aug 2005	Message Posted: Jun 27, 2012 10:55:14 PM Ignore mdskier Report Abuse Good
YodaON Champion Author Ottawa Posts:2,927 Points:779,060 Joined:Jan 2011	Message Posted: Jun 27, 2012 10:51:18 PM Ignore YodaON Report Abuse okay
bigthighs All-Star Author Tucson Posts:550 Points:52,965 Joined:May 2012	Message Posted: Jun 27, 2012 10:48:19 PM Ignore bigthighs Report Abuse cool
clermont40miles Champion Author Cincinnati Posts:10,562 Points:1,770,920 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:47:03 PM Ignore clermont40miles Report Abuse Another feckless, weak effort. Iran loves it when we give them more time. Just what they want and need.
warlord1 Champion Author Georgia Posts:5,240 Points:1,033,025 Joined:May 2010	Message Posted: Jun 27, 2012 10:46:19 PM Ignore warlord1 Report Abuse ok
dabbadu Champion Author New York Posts:1,056 Points:660,255 Joined:Feb 2011	Message Posted: Jun 27, 2012 10:43:21 PM Ignore dabbadu Report Abuse Good news.
96sc1 Champion Author El Paso Posts:8,517 Points:1,367,440 Joined:Mar 2008	Message Posted: Jun 27, 2012 10:42:10 PM Ignore 96sc1 Report Abuse Pfft! Sanctions haven't taken down North Korea or Cuba yet.
toadNY Champion Author Albany Posts:7,037 Points:1,512,175 Joined:Apr 2008	Message Posted: Jun 27, 2012 10:41:04 PM Ignore toadNY Report Abuse Same here dlemma, scubadaniel is right.
suzmar Champion Author Texas Posts:2,212 Points:871,715 Joined:Jun 2006	Message Posted: Jun 27, 2012 10:39:53 PM Ignore suzmar Report Abuse I don't think Iran is worried about the sanctions, there will always be countries that will buy.
dlemma Champion Author Wyoming Posts:4,101 Points:1,554,045 Joined:Feb 2008	Message Posted: Jun 27, 2012 10:37:43 PM Ignore dlemma Report Abuse I couldn't agree more with scubadaniel.v
scubadaniel Champion Author Dayton Posts:1,416 Points:690,945 Joined:Jan 2011	Message Posted: Jun 27, 2012 10:34:31 PM Ignore scubadaniel Report Abuse I don't think the little Arab Hitler cares about sanctions by POTUS Obama.
ericbcire Champion Author Nevada Posts:4,515 Points:1,266,260 Joined:Aug 2009	Message Posted: Jun 27, 2012 10:33:25 PM Ignore ericbcire Report Abuse Good. Prices need to keep dropping.