Replies to post #172300 on Tornado Alley (PROG)

[StephanieVanbryce]

China can get all the oil it wants from Iran ....It's the BANKS where the sanctions will be increasing ..

They can trade in gold, as some were planning to do sometime in the last couple of months ..

The move would allow the US to sanction foreign banks which are still involved in the oil trade with Iran.

http://www.bbc.co.uk/news/world-us-canada-17569326

From the article above ...Iran ONLY exports 20 percent of its oil to China



20 percent is somewhat sizable, but not that much.

This ONE shows China's Imports of oil



http://blog.carbontalks.ca/archives/651

[PegnVA]

You probably would be interested in this from an article on CNNmoney.com, March 30, 2012...
U.S. TIGHTENS OIL SANCTIONS ON IRAN
Earlier this month the State Department said Japan and the EU and a number of a number of other countries have reduced their purchases of Iranian oil enough to avoid sanctions. If China, India and South Korea and 10 other nations don't follow suit by June 28, they could be sanctioned.