According to the RT report below, Barack Obama is set to impose penalties on India for continuing to purchase oil from sanction-strapped Iran. A vague new U.S. law seeks also to sanction any country that is not willing to reduce its purchase of Iranian oil. However, India has expressed reluctance to abide by unilateral sanctions that are not legally binding. India’s Oil Minister has stated that they will continue to purchase from Iran as needed for their growing energy demands, while perhaps turning to gold as a means of sidestepping any attempt at imposing sanctions. This could be merely a face-saving measure, as other players in the region including China, Japan, and South Korea have taken quick measures to reduce imports following U.S. demands. Once again, the U.S. proves that ally or not, every sovereign nation must cave to Washington’s imperial objectives, or else. This latest move seems designed to further stress the region and force a shift in the oil economy toward Western-controlled interests, as the U.S. is conveniently offering to broker deals with Saudi Arabia and Iraq as a solution to the problem. (Source: Bloomberg)
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