Why Iran Believe They Are Safe From Effects Of Oil Sanctions


After initial outrage, bluster and bravado, Iran appears to have come to terms with impending Western sanctions on the country’s oil and financial sector, to the point of saying they don’t think it will have any meaningful impact at all. Iran deems Western politicians as lacking the courage to stick with the ban in the face of a further rally in oil prices; inevitable, as they see it, if the West goes ahead with the ban. So are they right to be so sanguine? Will Iran’s Asian customers take up the slack in buying production that…

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