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IRAN HAS OTHER ESCAPE ROUTES

June 26, 2008

Analysis of:EU approves new sanctions on Iran | www.iht.com

While EU sanctions are a negative development from Iran's point of view they do not represent the end of the road.We have to recall that such sanctions have never had its intended effects while their negative consequences,mostly unintended,have been pronounced. Politically it will reduce EU's influence as a bridging between US and Iran. Iran 's oil and gas output will ensure that the sanctions will not bite the man in the street. It will give the regime another arrow in its quiver to blame Western nations. All to the good for keeping the moderates in Iran from increasing their support base. While the Iranian banking system will feel the pressure we can expect Iran to direct its exports and source its imports from China,India and ASEAN.At the same time Iran's using Euro for its oil trades will mean greater pressure on banks to parrk its reserves. WE can expect Dubai to fulfill an 'entrepot' role in the aftermath of the EU sanctions

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