Iran Freedom

Friday’s Iran Events – July 6, 2018

Iran Freedom

How Iran’ian regime President Hassan Rouhani made a threat to close the Strait of Hormuz & a regime MP scrambled to clarify…

Authorities attacked a number of farming industry drivers who were protesting. One driver was severely beaten.

China chides Iran over threat to block oil exports through Strait of Hormuz

Iran should make more effort to ensure stability in the Middle East and get along with its neighbors, a senior Chinese diplomat said on Friday, as Iran’s Revolutionary Guards warned they may block oil shipments through the Strait of Hormuz.

Saudi Arabia, Iraq and Kuwait are among China’s most important oil suppliers, while Qatar supplies liquefied natural gas to China, so any blockage of the strait would have serious consequences for its economy.

But Beijing has had to tread carefully with Arab nations like Saudi Arabia as China also has close ties with Iran.

Carrying one-third of the world’s seaborne oil every day, the Strait of Hormuz links Middle East crude producers to key markets in Asia Pacific, Europe, and North America and beyond.

“We call on all sides to meet each other halfway and give consideration to each other’s concerns, and find a way to alleviate the problem via dialogue,” Chen said

Iran sanctions may hit India’s forex outflows, weaken rupee further

India’s economic woes due to rising crude prices could aggravate if India gives in to the US dictate on sanctions against Iran.

The US clampdown on Iran has come at a time when there is already a demand-supply imbalance in the global oil market, which has pushed up crude prices. The Brent crude has already soared to over $79 per barrel. Bank of America Merrill Lynch has forecast oil prices to touch $90 per barrel due to Iran sanctions.

“India may have to find alternatives to replace a portion of Iranian oil if required. It would be Indian refineries which may face some impact, albeit it’s not expected to be significant. There may be no direct economic impact, rather an indirect one, in form of a rise in global oil prices,” she said.

After Iran Threats, US Navy Vows to Secure Oil Routes in Hormuz Strait

The United States Navy vowed on Thursday to protect oil routes and international navigation in the Hormuz Strait after Iran threatened to block oil shipments.

The head of the Iranian Revolutionary Guards had said on Thursday his forces were ready to block the Strait of Hormuz, which links the Gulf to the open sea.

The strait is the most important oil transit channel in the world with about one fifth of global oil consumption passing through each day.

Foreign ministers from the five remaining signatories of the 2015 nuclear deal between Tehran and world powers will meet Iranian officials in Vienna to discuss how to keep the accord alive after the US withdrawal from the pact in May.

Rouhani Says European Measures To Counter U.S. Sanctions ‘Disappointing’

Iranian President Hassan Rouhani has told the leaders of France and Germany that a European package of economic measures to counter the effects of U.S. sanctions does not go far enough, Iranian news agencies are reporting.

Rouhani told French President Emmanuel Macron in a phone call that the package “does not meet all our demands,” the IRNA state news agency reported late on July 5.

In another phone call to German Chancellor Angela Merkel, Rouhani said the European economic measures are “disappointing,” the Tasnim news agency reported.

Now, the threat of U.S. sanctions has increasingly darkened the outlook for Iran’s economy, helping to stoke a plunge in the Iranian rial this year that has driven up prices and provoked street protests and strikes.

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