Why the USA lost the first round of economic war
On November 4, 2018, progressive humanity waited with undisguised interest. After all, on this day the culmination of a multi-part epic called "Flogging of Iran" was appointed. In the Persian Gulf, already ahead of time, a whole fleet of tankers from all over the world lined up for oil terminals. This is a jackpot!
Few people expected such a service from the US administration, many, for some reason, until the last moment thought that Washington would change its mind. This did not happen and everyone breathed a sigh of relief. Now even the ubiquitous Bloomberg agency is saddened. After all, Tehran, still ahead of time, began dumping in the oil market. And the "hand of the market" put everything in its place.
Iran just sells oil cheaper than Saudi Arabia. And not much cheaper, 10 - 30 cents per barrel. But this is enough for the newly created, on this occasion, companies, with authorized funds of several thousand dollars, to be "packed" with oil for hundreds of millions.
For example, the Iranian state corporation National Iranian Oil Co has already set the official selling price of Iranian Light crude oil for December 2018 at 30 cents per barrel below the similar Arab brand. And the discount for Iranian Heavy is $ 1,25 per barrel, for Forozan Blend - $ 1,10 per barrel.
And it’s not even surprising that the “Celestial Empire” remains the largest buyer from Iran. Who will refuse such an offer. After all, a decrease in oil prices leads to an increase in the GDP of countries such as China. Conversely, an increase in prices leads to a drop in GDP. In short, the United States in an attempt to punish Iran, though it’s not clear for what “sins” it has done a favor to China, and not only to it.
Many industrial active competitors (China, India, Italy, Greece, Japan, South Korea, Turkey and Taiwan) received 180 days of “indulgence” from Washington, that is, they were allowed to buy Iranian oil. The United States understands that they cannot give up Iranian oil, so the White House will be enough to save face if they buy less. And the Americans were going to carry out the first check in six months.
However, how will the United States do this if the purchases are not in dollars? Yes and policy from these countries they can boldly, without blinking an eye, declare that they don’t buy a drop of oil from Tehran at all. For example, as Japan did, which officially declared it. However, not a single refinery in Japan has stopped working. And try to prove that Tokyo is misleading. You can't send a warship for every tanker. After all, no one has yet canceled free shipping.
So, China is “allowed” to buy up to 360 thousand barrels of oil per day. Before that, Beijing bought 2 times more. Payment went and goes in RMB, for which Iran buys goods in the "Middle Kingdom". India, "with the gentleman's shoulder", was granted the right to buy up to 300 thousand barrels of oil per day. Before that, she bought 1,5 times more. Payment went and goes in Indian rupees, for which Iran buys goods in India. South Korea "allowed" 200 thousand barrels of oil per day. Prior to that, she bought 1,5 times more and all of her refineries are best “digesting” Iranian oil. Trade is conducted in South Korean won through accounts at Industrial Bankof Korea and Woori Bank.
With Taiwan, Turkey, Italy and Japan, things are roughly the same. Currencies in countries are normal, industrial goods are available. The numbers are different, but the essence is the same. So, we can summarize the preliminary result. USA lost the first round of the same economic war against the rest of humanity. And we, with undisguised interest, will follow the development of events.
Few people expected such a service from the US administration, many, for some reason, until the last moment thought that Washington would change its mind. This did not happen and everyone breathed a sigh of relief. Now even the ubiquitous Bloomberg agency is saddened. After all, Tehran, still ahead of time, began dumping in the oil market. And the "hand of the market" put everything in its place.
Iran just sells oil cheaper than Saudi Arabia. And not much cheaper, 10 - 30 cents per barrel. But this is enough for the newly created, on this occasion, companies, with authorized funds of several thousand dollars, to be "packed" with oil for hundreds of millions.
For example, the Iranian state corporation National Iranian Oil Co has already set the official selling price of Iranian Light crude oil for December 2018 at 30 cents per barrel below the similar Arab brand. And the discount for Iranian Heavy is $ 1,25 per barrel, for Forozan Blend - $ 1,10 per barrel.
And it’s not even surprising that the “Celestial Empire” remains the largest buyer from Iran. Who will refuse such an offer. After all, a decrease in oil prices leads to an increase in the GDP of countries such as China. Conversely, an increase in prices leads to a drop in GDP. In short, the United States in an attempt to punish Iran, though it’s not clear for what “sins” it has done a favor to China, and not only to it.
Many industrial active competitors (China, India, Italy, Greece, Japan, South Korea, Turkey and Taiwan) received 180 days of “indulgence” from Washington, that is, they were allowed to buy Iranian oil. The United States understands that they cannot give up Iranian oil, so the White House will be enough to save face if they buy less. And the Americans were going to carry out the first check in six months.
However, how will the United States do this if the purchases are not in dollars? Yes and policy from these countries they can boldly, without blinking an eye, declare that they don’t buy a drop of oil from Tehran at all. For example, as Japan did, which officially declared it. However, not a single refinery in Japan has stopped working. And try to prove that Tokyo is misleading. You can't send a warship for every tanker. After all, no one has yet canceled free shipping.
So, China is “allowed” to buy up to 360 thousand barrels of oil per day. Before that, Beijing bought 2 times more. Payment went and goes in RMB, for which Iran buys goods in the "Middle Kingdom". India, "with the gentleman's shoulder", was granted the right to buy up to 300 thousand barrels of oil per day. Before that, she bought 1,5 times more. Payment went and goes in Indian rupees, for which Iran buys goods in India. South Korea "allowed" 200 thousand barrels of oil per day. Prior to that, she bought 1,5 times more and all of her refineries are best “digesting” Iranian oil. Trade is conducted in South Korean won through accounts at Industrial Bankof Korea and Woori Bank.
With Taiwan, Turkey, Italy and Japan, things are roughly the same. Currencies in countries are normal, industrial goods are available. The numbers are different, but the essence is the same. So, we can summarize the preliminary result. USA lost the first round of the same economic war against the rest of humanity. And we, with undisguised interest, will follow the development of events.
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