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Wednesday, 4 January 2012

Why Iranians are so defiant in a face of EU sanctions??

US Treasury secretary Timothy Geithner will travel to China and Japan next week to discuss tougher sanctions against Iran, but as the current ban only applies to EU countries, some analysts suggst that BRICs such as India and China could end up benefiting from the EU move, as EU consumes only 18% of Iranian exports.
India, China and some other Asia countries consume more than 60%, and may end up getting a reduced price on Iranian oil and that could be good for their economies, but European countries will have to find other sources.

A quick look at the countries that import oil from Iran,  the most of Iranian oil exports go to Asia. 

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