Sanctions Backfire?: “More Japanese tankers will transport Iranian Crude”

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The Iran sanctions served to galvanize the anti-USDollar movement. One source involved in the barter system design, at the fringe of the new SWIFT system, reported that the Iran sanctions did them a great favor, by bringing several newer nations to the planning room for integration in the new global trade transaction system.”  Jim Willie (1)


Japan takes measure to raise Iran oil shipping capacity

Jul 11, 2012

A file photo shows the M Star Japanese supertanker at sea near Fujairah port in the United Arab Emirates.

Japan is taking measures to increase its oil imports from Iran despite Western sanctions that ban insurance coverage on Iranian crude.

European insurers stopped offering cover on Iranian crude when the sanctions imposed by the European Union took effect last week, Reuters reported on Wednesday.

The ban forced Tokyo to decrease oil shipments from Iran despite an increase in the country’s overall demand, but the country is now expanding the maritime coverage of its insurers, which means more Japanese tankers will transport Iranian crude.

Full article HERE:

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(1) Gold Cover Clause Guidance, by Jim Willie,, 9 May 2012
 – Previous Articles by Jim Willie CB

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