IRAN SANCTIONS UNRAVELING IN E.U.? / Economic collapse in Greece ripples throughout region (WND-WORLD NET DAILY) Joseph Farah’s G2 Bulletin WASHINGTON 04/16/12)
WND} WORLD NET DAILY
WND} WORLD NET DAILY Articles-Index-Top
WASHINGTON – While the European Union has decided to impose stringent
oil import sanctions against Iran starting in June, the lagging
economic in Europe could threaten to unravel whatever united front
there was, according to a report in Joseph Farah’s G2 Bulletin.
In a report from the Washington-based energy-policy group Securing
America’s Future Energy, or SAFE, the effort could be undermined by
Greece, which is in a virtual economic free-fall. Greece may have to
continue receiving its oil from Iran.
“Greece’s sovereign debt crisis has led most oil suppliers to decide
that they cannot take the risk of trading with Greece,” the SAFE
Consequently, Greece has had to draw down its existing oil stocks and
to “massively increase its reliance on Iran,” the report said. “That,
in turn, makes Greece the potential weakest link in the E.U.’s plans
to embargo Iranian oil imports.”
This would prevent the E.U. from eliminating imports from Iran by
June. Greece is Iran’s largest customer from the Eurozone.
“Iran can use Greece as a means to exert pressure on the European
Union and, by extension, the United States,” the SAFE report
said. “Unsurprisingly, Greece has been lobbying hard to water down
the E.U. boycott of Iranian oil.”
And it isn’t just Greece. There also are Spain and Italy, both highly
dependent on Iranian oil and lacking the means to purchase it from
alternative suppliers, who want payment in advance.
“Expanding Greece’s energy choices through alternate energy providers
and greater security for its oil purchases would therefore be a boon
to its floundering economy – and a significant shot in the arm for
the fragile consensus in favor of economic pressure on Iran that now
predominates in Europe,” said Ilan Berman of the Washington-based
American Foreign Policy Council.
“Having spent so much time and energy building that understanding,
Washington and its allies should now have a vested interest in making
sure that Greece’s debt woes don’t demolish it.” That undertaking,
however, will be far easier said than done. (© 2012
WorldNetDaily.com, Inc. 04/16/12)
Return to Top
MATERIAL REPRODUCED FOR EDUCATIONAL PURPOSES ONLY