Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on July 13, 2018
European Powers Prepare To Ditch Dollar In Trade With Iran
While the White House’s frenzied anti-Iran campaign has entailed unprecedented attempts to twist the arms of the United States’ traditional European allies, the pressure may be backfiring – a reality made all the more clear by Russian Foreign Minister Sergei Lavrov’s claims that Europe’s three major powers plan to continue trade ties with Iran without the use of the U.S. dollar.
The move would be a clear sign that the foremost European hegemons – France, Germany, and the United Kingdom – plan to protect the interests of companies hoping to do business with Iran, a significant regional power with a market of around 80 million people.
Lavrov’s statement came as Trump insisted that European companies would “absolutely” face sanctions in the aftermath of Washington’s widely-derided sabotage of the six-party Joint Comprehensive Plan of Action (JCPOA). On May 8, the former host of NBC’s “The Apprentice” blasted the agreement and said that the U.S. would reinstate nuclear sanctions on Iran and “the highest level” of economic bans on the Islamic Republic.
Speaking in Vienna at the ministerial meeting of the JCPOA, Lavrov blasted the U.S. move as “a major violation of the agreed-upon terms which actually made it possible to significantly alleviate tensions from the point of view of the military and political situation in the region and upholding the non-proliferation regime.” He added that “Iran was meticulously fulfilling its obligations” at the time that Trump destroyed the U.S.’ end of the agreement.
Continuing, Lavrov explained:
The Joint Commission… will be constantly reviewing options which will make it possible, regardless of the US decision, to continue to adhere to all commitments undertaken within the JCPOA framework and provide methods for conducting trade and economic relations with Iran which will not depend on Washington’s whims.
What they can do is to elaborate collectively and individually such forms of trade and settlements with Iran that will not depend on the dollar and will be accepted by those companies that see trade with Iran more profitable than with the US. Such companies certainly exist – small, medium and large.”
Lavrov noted that the move wasn’t so much meant to “stand up for Iran” but to ensure the economic interests and political credibility of the European signatories to the accord. The Russian top diplomat added that large firms such as Total, Peugeot and Renault have already departed the country, having analyzed the situation and decided that the U.S. market is of far more vital importance.
France, Germany and the U.K. have pleaded with the “America First” president to exempt EU companies, writing a letter to U.S. Secretary-Treasurer Steve Mnuchin and right-wing Secretary of State Mike Pompeo that the nuclear accord remains the “best means” to prevent Iran’s acquisition of a nuclear deterrent given the lack of any credible alternative. Given the hard-line stances of Pompeo and National Security Adviser John Bolton, the pleas were likely greeted with bemusement.
The opening salvo or “snap-back” of sanctions hitting Iran’s automotive sector, gold trade, and other industries will hit the country on August 4, while further sanctions will hit the country’s oil industry and central bank on November 6.
Signaling the likelihood of major clashes to come, Lavrov noted:
Everyone agrees that [stepped-up U.S. sanctions on Iran] is an absolutely illegitimate practice. It cannot be accepted as appropriate, but it is a policy that can hardly be changed. Severe clashes are expected in the trade, economic and political spheres.”
Patience reaches its limits on all sides
A blistering recent speech by German Foreign Minister Heiko Maas signaled the European exasperation with Trump’s go-it-alone policies, which have largely seen the U.S. break from its transatlantic partners while pursuing what he called an “egoistic policy of ‘America First’” in relation to the Paris Climate Agreements, Iran nuclear deal, and introduction of tariffs and other protectionist measures.
The May 12, 2018 cover of the German weekly, Der Spiegel.
Maas further questioned the continued viability of the transatlantic partnership:
Old pillars of reliability are crumbling under the weight of new crises and alliances dating back decades are being challenged in the time it takes to write a tweet … the Atlantic has become wider under President Trump and his policy of isolationism has left a giant vacuum around the world.”
He added:
The urgency with which we must pool Europe’s strength in the world is greater than ever before … our common response to ‘America First’ today must be ‘Europe United!’”
Highlighting how “the Trump administration’s conduct is posing completely new challenges to Europe,” the German foreign minister noted that the White House now “overtly calls [European] values and interests into question,” requiring a more robust and assertive stance – and “the first test of this approach will be the nuclear agreement with Iran.”
While such talk surely signals major tensions between the allies, Iran’s Atomic Energy Organization director Ali Akbar Salehi offered caustic words stressing Iran’s doubt in Europe’s ability to follow through with its independent foreign policy, stating:
Iran understands that Europe and the United States are strategic partners, but they are not lovers who share the same bed … European independence vis-a-vis the US is under threat. In the eyes of the whole world, Europe has become the U.S.’ lackey.
We are faced with an American administration whose decisions have left the world in shock.
Mr. Trump is punishing foreign companies that do business with us and threatening countries that buy our petrol. He’s after fast results. But the EU, Russia and China didn’t expect to be put under so much pressure.
The EU is still under shock. The bloc is like a boxer that has been hit with an uppercut. It needs time to pull itself together.”
Despite Trump’s self-reported success at the two-day summit of the North Atlantic Treaty Organization (NATO), Iranians and Europeans alike are hoping that EU leaders can finally put their money where their mouth is and unshackle themselves from the U.S.-imposed hegemonic bondage constraining them since the end of the Second World War.
82 Comments on "European Powers Prepare To Ditch Dollar In Trade With Iran"
Makati1 on Fri, 13th Jul 2018 8:42 am
The Us where insanity rules.
Trump, the destroyer of America.
Slip slidin’…
twocats on Fri, 13th Jul 2018 8:56 am
besides the subtle sick-burns against ding-dong there is absolutely zero news in this article. nothing concrete has been done by any country in retaliation for the re-imposition of sanctions.
let’s see how much Iran’s oil production actually falls – then we’ll know if the sanctions are de-facto working or not.
Duncan Idaho on Fri, 13th Jul 2018 9:38 am
Iran is going to slide through this. In 60 wells, they produce more than 2500 in the Bakken– and it is under 45, the kind.
We shall see——
Reality often wins over ideology.
Davy on Fri, 13th Jul 2018 10:14 am
The reality is European companies with American business interest will not deal with Iran unless their Iranian business is more important and they can risk being blackballed. What governments say is not really important because they often do things differently than what they say.
twocats on Fri, 13th Jul 2018 10:47 am
absolutely – need to satisfy their bases. trump actually has done a good job delivering to his base – not just words.
Mac Mirzaei on Fri, 13th Jul 2018 11:35 am
VIVA TRUMP
I support his stance for NONE APPEASEMENT policy towards Brutal s Mullah s REGIME to bring down the sale of oil to ZERO.
TIME IS CHANGED EURPOE MUST STOP OR FACE TOUGH SERIOUS PENALTY SACTIONS.
Mike Kramer on Fri, 13th Jul 2018 12:56 pm
I am 100% red blooded American and served my country in Vietnam. Regardless of its faults etc. I would not want to live anywhere else. But, I do not agree with a lot of what is going on here, I certainly do not want the ISIS flag or some other flag flying over the White House or any house. My biggest complaint about our government (which does a lousy job governing) goes to a lot of countries and says they are inhumane. We have legalized murder under the guise of abortion, one of our largest export is pornography. We legalize marijuana and say it is for medicinal purposes. Our country is rife with fraud, deceit, greed, pride etc. If our President wants to MAGA, he cannot. Because man did not do it, God did. But if he wants to let’s start at home. Sweep you own doorstep before telling me mine needs it. If Russia, Germany, France or anyone wants to trust Iran, let them do it at their own peril.
David Kim on Fri, 13th Jul 2018 1:41 pm
This article is total nonsense. Gazpron just withdrew from Iran because it does not want to be excluded from the US market. It would go out of business? The two largest shipping cargo carriers in Iran withdrew. This article is misleading! Excluding from the US dollars means a company cannot enter the US market and once a violator it would incur penalties to any accounts holding US dollars.
nancy shahmirzadi on Fri, 13th Jul 2018 1:45 pm
Europe and its companies need to realize that
if they fall for Trump’s narcissistic bullying now, they are placing themselves and the top of a slippery slope exposing themselves to dependence more and more of Trump’s disruptive demands. They are not safe by capitulating.
Jerel on Fri, 13th Jul 2018 1:46 pm
For sure there is a multitude of prejudices as exhibited by recent posting, so far. Yet, ‘we will see’. We will see if nations are simply talking or will actually implement concrete actions to defy the “American First’ malarkey. Besides, I think that it’s incredulous for supposedly strong nations to allow a renegade leader with historical questionable ethics to to make them bow down to his ever egoistical whims. By the way, the JCPOA is a good starting point, but the same collective should go further. Stop killing people of other nations (Yemen, Syria, Iraq, ect.); Stop being accommodating to a nation that is clearly out of order; Show some backbone. The universal truth is that the more you give, the more they demand – they have an insatiable appetite for absolute control Not unless you are able to stop them in their tracks – head-on- you can kiss sovereign decisions goodbye and become certified vassals.
Edward Buck on Fri, 13th Jul 2018 2:20 pm
gas prices just went up 20 cents/gal over night where I live, I sure hope Iran is learning their lesson
Nick Langston on Fri, 13th Jul 2018 2:23 pm
It’s amazing that Europe and France are once again loving AntiSemitic countries. They don’t remember the Holocaust of their own citizens and now it is repeated with Iran who hates and vows the elimination of
the Jews and all non islamic people.
Majed Alahmadi on Fri, 13th Jul 2018 2:48 pm
Europe is repeating their historical mistake with Hitler.
The Iran regime must go in order to eliminate terror.
shoal on Fri, 13th Jul 2018 2:49 pm
“El-Erian: Why The US Is “Winning” The Trade War”
https://www.zerohedge.com/news/2018-07-13/el-erian-why-us-winning-trade-war
“Mohamed El-Erian, Allianz’s chief economic advisor, declared Friday that the US will prevail in its trade war against China because China is a “less open economy” than its western rivals. El-Erian said that earlier this week, which ended in relative terms, we are winning and we will win the trade war,” according to CNBC. “When people realize that at the end of the day, the US will prevail, because [China] is a less open economy, because [the US] is a more dynamic economy, that ultimately you may end up in a situation where the US’ position in global economic terms is better off,” he said. Still, the former one-time heir to Gross may have gone too far in describing Trump’s nontraditional negotiating tactics. El-Erian said as long as the risks are managed, everything will be fine as far as the US is concerned. “One of the upside risks, is that you may end up changing the global landscape in a way that favors the US. Because countries will realize, if we slip into a trade war, while everybody suffers, [the] US does better in relative terms,” he said. El-Erian is perhaps the most well-respected figure in the US financial community to come out in favor of Trump’s aggressive tactics on trade. His remarks recall one of Trump’s most infamous trade-related tweets: “When you’re almost 800 Billion Dollars a year down on Trade, you can’t lose a Trade War! The U.S. has been ripped off by other countries for years on Trade, time to get smart!”
Duncan Idaho on Fri, 13th Jul 2018 3:41 pm
How about checking in with reality?
Trump Considers Tapping U.S. Oil Reserve as Prices at the Pump Rise
https://www.bloomberg.com/news/articles/2018-07-13/trump-said-to-mull-tapping-u-s-oil-reserve-as-pump-prices-rise
If you don’t know what this means, you should not be on this thread.
print baby print on Fri, 13th Jul 2018 3:55 pm
Regime change in Teheran this is the name of the game it is going to be very interesting
Shahrokh Zhand on Fri, 13th Jul 2018 3:58 pm
Die Europaerer sind Opfer der Talmudies hahahaha ! Zurecht ! Wer sich mit dem teufel anfreudet, leidet halt hahahah !
GetAVastomyAndLetTheHumanRaceDieGracefully on Fri, 13th Jul 2018 3:59 pm
Regarding gasoline prices increasing. If you look at financial news headlines on sites like MarketWatch, you will see more and more news about raising inflation and the fed raising rates.
The raising price of gasoline and diesel is starting to cause inflation, are we getting close to hyperinflation and the end of the financial system.
Time will tell
Duncan Idaho on Fri, 13th Jul 2018 4:01 pm
The government of Iran surely needs to evolve.
However, 1953 is not going to happen this time.
GetAVastomyAndLetTheHumanRaceDieGracefully on Fri, 13th Jul 2018 4:01 pm
U.S. and Western officials are discussing an emergency release of stockpiled oil,
https://www.marketwatch.com/story/us-and-other-countries-weighing-oil-reserve-release-wsj-2018-07-13
potterpaul on Fri, 13th Jul 2018 4:02 pm
Have you all noticed how the subject of Iran brings out a blizzard of trollfest? it’s pretty amusing I think.
Duncan Idaho on Fri, 13th Jul 2018 4:06 pm
it’s pretty amusing I think.
It’s going to be more than amusing—–
You just may not know it yet.
Amin San on Fri, 13th Jul 2018 4:16 pm
US sanctions on Iran are extraterritorial, so it is surprising to see that the EU cannot level fines and sanctions against US companies in direct proportion to fines and sanctions imposed on their companies. Just like EU companies need the US market, US companies also need the European market.
GetAVastomyAndLetTheHumanRaceDieGracefully on Fri, 13th Jul 2018 4:16 pm
So much better when listen with head phone
https://www.youtube.com/watch?v=jEn7TfjxZRw
print baby print on Fri, 13th Jul 2018 4:35 pm
Iran must bow down or it will be annihilated no other way this time, someone figured out that things are going from bad to worse and at least lets fix the Iran so for a longer while we can hide oil depletion . Two flies with one blow not bad at all
potterpaul on Fri, 13th Jul 2018 4:36 pm
Duncan, yes it is amusing. I wouldn’t be surprised if Trump tries to attack or overthrow Iran. Why do you think it won’t be like ’53 again? I suppose the trolls are Israelis, or the kissers of Israeli ass.
MASTERMIND on Fri, 13th Jul 2018 4:47 pm
Potterpault
Trump is doing the bidding of Nutandyahoo! He is the deep state’s useful idiot..
Orlando B. Pabotoy on Fri, 13th Jul 2018 4:48 pm
Russia’s opportunity on breaking up NATO; step 1 is succeeding; when Europe decides to ditch out the Dollar to prefer business with Iran. Russia’s support of the JCPOEA with the 3 European hegemons’ business is purposely aimed at inserting a wedge on NATO/USA hoping America to get out of NATO. Thereafter it would be much easier for Russia to reabsorb back the satellite countries of the old Soviet Union and monopolize the supply of oil to Europe. Easier for Russia to Control Iran eventually Europe without American iIntervention.
Loej Darrell on Fri, 13th Jul 2018 5:02 pm
Interesting to see all the Trump lovers celebrate whatever he does, especially against Iran, when his administration is in bed with the most authoritarian regimes in the world: The Saudis, and the Gulf States.
nat turner on Fri, 13th Jul 2018 5:43 pm
fuck with iran and there will be no more america as we know it. fuck with north korea and a few of those nukes make it through and, there will be no more america period. the day of total america power is over, and there don’t seem to be no return. get over it, period.
GregT on Fri, 13th Jul 2018 5:46 pm
“Trump is doing the bidding of Nutandyahoo! He is the deep state’s useful idiot..”
Trump is without a doubt a Zionist, but he certainly isn’t doing the deep state any favours.
It would appear that his motives are of a biblical nature, not of a globalist nature, but the guy is so all over the map, it’s really difficult to tell for sure.
Anne on Fri, 13th Jul 2018 6:01 pm
Trump is not a Zionist. Period, Mr. T. But when greed trumps common sense, dealing with a tyrant will bring serious consequences especially when Iran uses the deal for the purpose of gaining serious power, Iran can recklessly use power for the purpose of exercising control and dominance. Especially when the Iranian leader interferes with Syria, risking the lives of the people there, Iran is risking a war with Israel and that Iran will seriously lose. Europe will end up risking a war with Israel as well.
Davy on Fri, 13th Jul 2018 6:06 pm
Trump is not a Zionist. That statement is typical anti-American angenda talk. Trump is an opportunist. He is out for himself and his base.
Boney Joe on Fri, 13th Jul 2018 6:14 pm
The Jews are in no position to lecture other countries. Whenever the Jews want land, they forcibly evict the Arab landowners and send them packing to one of their two concentration camps. And the world turns a blind eye.
JuanP on Fri, 13th Jul 2018 6:28 pm
I don’t know if Iran’s oil export volume has been affected so far, but oil prices certainly have. I am curious to see how this plays out. I don’t expect the USA to succeed in removing and replacing Iran’s government. I can’t wait to see what happens!
MASTERMIND on Fri, 13th Jul 2018 6:31 pm
Actress Natalie Portman who is from Israel won’t go back and visit anymore until Nutandyahoo is gone..I read they wanted to give her an award in Israel a few months ago..And she refused to go their..
Antius on Fri, 13th Jul 2018 6:39 pm
“Trump is without a doubt a Zionist, but he certainly isn’t doing the deep state any favours.”
I listened to his speech today, standing beside the ghastly Theresa May. The British media climbed over each other to express their distaste at a man that does not share their love of ‘diversity’. These people are genuinely pointless.
As for Trump, he is not a good public speaker. He finds it difficult to get his point across and goes off on a tangent. I was left wondering if perhaps he had an attentive disorder. Takes one to know one.
None the less, he did make some good points. NATO members should pay for their own defence; no one should expect to sponge off the U.S for free. It is highly rational to pursue better relations with Russia. The only reason we do not already have good relations with these people, is that the Jews that run the U.S. and U.K are pissed with them for not putting out and allowing them to asset strip their country. I wonder if Trump understands that. I get the strong feeling that the man is cleverer than he appears. I think he knows exactly what he is doing, and has been planning it for years.
MASTERMIND on Fri, 13th Jul 2018 7:05 pm
MSNBC Andrea Mitchell is warning on Twitter that Russia may pull off another 911 terror attack against America
https://twitter.com/mitchellreports/status/1017907599608631297
Americans don’t seem every scared of Russia..Scary what they might do to get everyone to fall back in line..
911 2.0?
Makati1 on Fri, 13th Jul 2018 7:33 pm
As I said, bring on $100 oil or even $150 oil. That should break the back of Zion’s control of the US and take both down. That would be a great Christmas present for the world.
And yes, Trump is a Zionist or, at least, their lap dog. If he truly takes on Iran, it will be the end of the Us AND Israel. The terrorist twins of the 21st century.
GregT on Fri, 13th Jul 2018 8:37 pm
“Trump is not a Zionist. That statement is typical anti-American angenda talk.”
Allright Davy, you’ve already made an ass out of yourself once today, care to try again?
If Trump is not a Zionist, then why did his administration go completely against the UN, and declare Jerusalem as the capital of Israel?
(This should be even more entertaining than this morning’s emotional outbreak.)
JuanP on Sat, 14th Jul 2018 7:11 am
Antius, I agree that Trump is more clever than he appears to be. He has fun pretending to be stupid and he does it on purpose. There are advantages to having other people think you are less smart than you are. I also think he does have ADHD or something like it.
Cloggie on Sat, 14th Jul 2018 7:31 am
Trump is doing the bidding of Nutandyahoo! He is the deep state’s useful idiot..
The deep state and its media are clearly pissed off with Trump, hence Trump is NOT, I repeat, NOT a deep state stooge.
I don’t think he is a “Zionist” either, meaning that he would be doing everything Jews/Israel want him to do (that would be deep state-ish anyway).
We will only know in the end what his game was. I have a suspicion that he has a plan and that he is wrong-footing everybody. Additionally I think he is inspired by Putin.
https://www.youtube.com/watch?v=HH0AvaG3SqQ
MASTERMIND on Sat, 14th Jul 2018 9:31 am
Clogg
Are you incapable of saving yourself? You need some strongman alpha male to save you..you are like a damsel in distress..
Grow up and stop blaming others for your own problems..
GregT on Sat, 14th Jul 2018 11:00 am
“I don’t think he is a “Zionist” either, meaning that he would be doing everything Jews/Israel want him to do (that would be deep state-ish anyway).”
Zion in the Torah refers to Jerusalem, or more specifically the Temple Mount. Zionism is the belief that the Israelis have divine right to the lands as described in biblical prophesy, and more specifically the rebuilding of the temple, which is believed will usher in the second coming of Christ.
Evangelicals are largely devout Chistian Zionists.
Davy on Sat, 14th Jul 2018 11:17 am
BS, gregster, most evangelicals could give a shit. You are making shit up.
MASTERMIND on Sat, 14th Jul 2018 11:28 am
Greg
I have told you the solution to the middle east problem..Deport all the religious right from America to the middle east..Give them, the Jews, and Muslims all guns..let them all kill each other..Then end..
Cloggie on Sat, 14th Jul 2018 12:19 pm
Zion in the Torah refers to Jerusalem, or more specifically the Temple Mount. Zionism is the belief that the Israelis have divine right to the lands as described in biblical prophesy, and more specifically the rebuilding of the temple, which is believed will usher in the second coming of Christ.
Evangelicals are largely devout Christian Zionists.
Pussy-grabber Trump is not your average devout Evangelical.
At home he is at war with the “Anglo-Zionist” deep state. He may be an ally of Israel (or pretend to be one to avoid the anti-semitism charge), but that doesn’t mean anything. Hitler was also a Zionist (after the motto: “every Jew who is in Palestine or Ukraine is not in Germany”). The solution to the JQ is a secure homeland for the koshers. It turns out that Palestine can’t be such a home, so the “final solution of the JQ” lies elsewhere, probably in NYC and surrounding Upstate NY.
MASTERMIND on Sat, 14th Jul 2018 12:24 pm
Major broadcast TV networks mentioned climate change just once during two weeks of heat-wave coverage
https://www.mediamatters.org/blog/2018/07/12/Major-broadcast-TV-networks-mentioned-climate-change-just-once-during-two-weeks-of-heat-wa/220651
MASTERMIND on Sat, 14th Jul 2018 12:42 pm
It is not possible to defend a farm… attackers will kill you when you venture out to weed or sow or harvest… they will get into your farm at night and raid the crop and kill the animals..
How f789iing difficult is it for DPs to understand this? You really have to have something seriously wrong upstairs not to get it..
GregT on Sat, 14th Jul 2018 12:54 pm
“BS, gregster, most evangelicals could give a shit. You are making shit up.”
Israel and Evangelicals: New U.S. Embassy Signals a Growing Alliance
“While Israel has long depended on the support of the Jewish diaspora, the Netanyahu government has made a historic and strategic shift, relying on the much larger base of evangelical Christians, even at the risk of turning off American Jews who may be troubled by some evangelicals’ denigration of their faith.”
“The paradox is well known: The beliefs of many evangelical Christians that Israel is special to God — and, for some, a marker in apocalyptic prophecies — lead many to hawkish support of the Jewish state while they simultaneously insist that salvation awaits only those who accept Jesus as their saviour.”
https://www.nytimes.com/2018/05/19/world/middleeast/netanyahu-evangelicals-embassy.html