Tuesday, March 1, 2011

Sanctions on Iran? What Sanctions on Iran?

By Barry Rubin

According to an Iranian news agency, China is investing $2.5 billion in the South Azadegan oilfield near the Iraqi border. The field's production is expected to be increased in two phases from 55,000 to 600,000 barrels a day. The word "sanctions" does not appear in the article.

The Obama Administration got Russia and China to support sanctions against Iran in the UN by...exempting them from implementing sanctions against Iran. A Japanese company had to drop out of the project since that country, according to the article, was pressured to drop out. In a real sense, the restrictions merely promote China's economy at the expense of others, while growing prohibitions on U.S. domestic oil production increases America's dependence on other, especially Arab, sources.

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