EU TO IRAN: CHECK...IRAN TO EU: CHECKMATE!

Just as the EU had approved new sanctions on Iranian oil imports this week, Iranian officials have raised the stakes once more. This Sunday, the Iranian Parliament will vote on what is being called a "Double Urgency" bill, that calls for Iran to shut down all imports to the EU as early as this coming week!

As we see from the graphic above, the EU is/was Iran's second biggest buyer of oil. But if they vote to shut down the spigot next week, the EU, already in a world of hurt due to their massive deficits, could be doubly hurt if oil was to be shut off next week instead of this coming July as they had planned for the gradual shut off of Iranian supplies and gradual replacement through alternative suppliers.

Saudi Arabia has already said they would try to increase supplies, but not to the extent of covering the lost oil supplies from Iran as early as next week. And even if they succeed, this would put enormous strains on the oil markets as Iran plays hard ball with the west.

China and India, will more than likely be the beneficiaries of this EU shut off, with them buying the extra crude with gold instead of Dollars.

It is interesting to see these dynamics at play. With the Illuminati nations attempting to corner the Iranians, but as in the field of Judo martial arts, the Iranians have countered with a move not suspected by their opponents, and allowed their opponents to fall based on their opponents own momentum.
'Iran will stop EU oil exports Next week!'
Fri Jan 27, 2012 3:23PM
http://www.presstv.ir/detail/223395.html

Iran could halt its oil exports to Europe as early as next week.A senior Iranian lawmaker says Majlis (parliament) will discuss a bill in the coming week which seeks to cut off Iran's oil exports to Europe.

Deputy head of the Majlis National Security and Foreign Policy Committee Hossein Ebrahimi said on Friday that Iranian lawmakers would debate a “double-urgency” bill on Sunday which calls for the ban of oil exports to Europe as early as next week.

The move comes after EU foreign ministers reached an agreement in Brussels on Monday to impose sanctions on oil imports from Iran as of July 1. The sanctions involve an immediate ban on all new oil contracts with the Islamic Republic and freezing the assets of the Central Bank of Iran (CBI) within the EU.

The Majlis motion would deny Europe the six-month phase-in period that the bloc has considered to adjust and find alternative sources to Iran's crude.

The recent EU sanctions on Iranian oil are merely a “psychological warfare,” as the 27-member bloc is delaying the implementation of the embargoes under various pretexts, Ebrahimi added.

“Europe is uncertain about enforcing these sanctions and seeks to project [its own woes] and manipulate public opinion,” the lawmaker said.

The EU accounted for 18 percent of Iranian crude oil sales in the first half of 2011, according to the US Energy Information Administration (EIA), making it Iran's second biggest customer after China.

The EU sanctions came after US President Barack Obama signed into law fresh unilateral economic embargoes against the Central Bank of Iran on New Year's Eve in an apparent bid to punish foreign companies and banks that do business with the Iranian financial institution. The bill ultimately takes aim at Iran's oil revenue.

The United States, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear program and have used this pretext to push for the imposition of four rounds of UN sanctions and a series of unilateral embargoes against the Islamic Republic.

Iran has refuted the allegations, arguing that as a signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, it is entitled to use nuclear technology for peaceful use.