US clears China, Singapore from Iran oil sanctions

World Jun. 29, 2012 - 04:50AM JST ( 7 )

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7 Comments

1

SimondBJun. 29, 2012 - 07:47AM JST

The Obama administration on Thursday cleared China and Singapore from possible U.S. economic penalties

Actually, I don't think the US is in any posistion to impose "economic penalties" on China as China currently bankrolls the states.
1

jforceJun. 29, 2012 - 09:07AM JST

What a joke. Oh thank you Daddy for letting us deal with a sovereign nation and not penalizing us.
0

paulinusaJun. 29, 2012 - 09:24AM JST

"...U.S. economic penalties..."

Any country is entitled to impose an penalty against another country who they do business with. If the country penalized doesn't cooperate they can take their business elsewhere.
0

lostrune2Jun. 29, 2012 - 03:43PM JST

U.S. subject banks doing business with America to penalties if they proceed transactions between Iran oil and a buyer that is not exempt. It's not directly penalizing the country but the institutions.

U.S. says the exemption is a carrot to China as China reduced its Iranian oil consumption by 40%.
-1

state broken peopleJun. 29, 2012 - 05:08PM JST

obama again emboldens our enemies. he just cant help himself.
-1

scoobydooJun. 29, 2012 - 05:22PM JST

Just about every country depends on China for its products especially in the tech area, so in reality China really holds the high cards or am I wrong, they certainly hold alot of the gold. China now currency trades directly with Japan, imagine if they changed the petro dollarto the petro Remnibi. It would probably provoke the US to war, just like Sadam did.
-2

Pukey2Jun. 29, 2012 - 11:45PM JST

I'm sure China is really really grateful.