InfoAnda - Obama says enough world oil to crack down on Iran sales |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Deadly typhoon cuts power in Manila, aims at China | | 14 July 2010
Mall wants Manilow music to drive out unruly teens | 3 March 2009
Hundreds panic as India reports swine flu death | 6 August 2009

FEATURE: Building (digital) nationalism | 13 December 2010

Forum Views () Forum Replies ()

Read more with google mobile : Obama says enough world oil to crack down on Iran sales |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Issues 2012 Candidates 2012 Tales from the Trail Political Punchlines Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Bernd Debusmann Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (5) Full Focus Editor's choice Our best photos from the last 24 hours. Full Article Images of February Follow Reuters Facebook Twitter RSS YouTube Read MasterCard, Visa warn of possible security breach 3:24pm EDT Clinton meets Saudi king amid Syria, Iran tensions | 1:11pm EDT Apple, Foxconn set new standard for Chinese workers 6:07am EDT Exclusive: Iran helps Syria ship oil to China: sources 8:17am EDT World record $540 million lottery drawing set for Friday night 11:16am EDT Discussed 254 Poll: Americans angry with Obama over gas prices 225 Cheney recovering after heart transplant: spokeswoman 218 Black friend defends shooter of Florida teen Watched Urine eggs a delicacy in China Thu, Mar 29 2012 Congressman dons a hoodie, gets kicked off House floor Wed, Mar 28 2012 Mitt Romney gets backing from George H.W. Bush 12:10am EDT Obama says enough world oil to crack down on Iran sales Tweet Share this Email Print Related News U.S. says has had good talks with South Korea over Iran sanctions 3:13pm EDT White House: oil market remains tight 3:13pm EDT Analysis & Opinion Sanctions could cost Iran $50 bln The Arab world’s Silicon Valley? Related Topics World » U.S. President Barack Obama speaks about oil companies and alternative energy while in the Rose Garden of the White House in Washington, March 29, 2012. Credit: Reuters/Larry Downing By Jeff Mason and Roberta Rampton BURLINGTON, Vt./WASHINGTON | Fri Mar 30, 2012 5:01pm EDT BURLINGTON, Vt./WASHINGTON (Reuters) - President Barack Obama vowed on Friday to forge ahead with tough sanctions on Iran, saying there was enough oil in the world market - including emergency stockpiles - to allow countries to cut Iranian imports. In his decision, required by a sanctions law he signed in December, Obama said increased production by some countries as well as "the existence of strategic reserves" helped him come to the conclusion that sanctions can advance. "I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran," he said in a statement. Obama had been expected to press on with the sanctions to pressure Iran to curb its nuclear program, which the West suspects is a cover to develop atomic weapons but which Iran says is purely civilian. The overt mention of government-controlled stockpiles may further stoke speculation that major consumer nations are preparing to tap their emergency stores this year. "I do think it was interesting that it was laid out there," said David Pumphrey, an analyst at the Center for Strategic and International Studies. "It was sort of like a reminder that yes, this is part of the tool kit," said Pumphrey, a former Energy Department official. NO DECISION ON STRATEGIC RELEASE Oil markets remain tight, the White House said. Surging gasoline prices have become a major issue in the presidential election campaign. "A series of production disruptions in South Sudan, Syria, Yemen, Nigeria, and the North Sea have removed oil from the market," the White House said in a statement. France is in talks with the United States and Britain on a possible release of strategic oil stocks to push fuel prices lower, French ministers said on Wednesday. Senior Obama administration officials told reporters that the United States views releasing emergency stocks as an option, but said no decision has been made on specific actions. Oil prices briefly rallied by about 70 cents on the announcement, but later reversed gains to end almost flat as traders turned mindful of the possible use of reserves. "There's been a shift from focus on a threat (by Iran) to close the Strait of Hormuz to whether or not reserves are going to be released," said Dominick Caglioti, a broker at Frontier Trading Co. in New York. PUTS IMPORTERS ON NOTICE Going forward, Obama is required by law to determine every six months whether the price and supply of non-Iranian oil are sufficient to allow consumers to "significantly" cut their purchases from Iran. The law allows Obama, after June 28, to sanction foreign banks that carry out oil-related transactions with Iran's central bank and effectively cut them off from the U.S. financial system. "Today, we put on notice all nations that continue to import petroleum or petroleum products from Iran that they have three months to significantly reduce those purchases or risk the imposition of severe sanctions on their financial institutions," said Senator Robert Menendez, co-author of the sanctions law. Obama can offer exemptions to countries that show they have "significantly" cut their purchases from Iran, and recently exempted Japan and 10 EU countries from the sanctions. A senior administration official told reporters that talks continue with China, India, South Korea and other importers. "Each day I think really we see a number of positive indicators from a broad range of countries," the official said, citing an announcement by Turkey on Friday that it would cut imports of oil from Iran by 10 percent as an example. NEW SANCTIONS IN THE WORKS Obama faces a delicate balancing act on Iran, leading up to November U.S. general election. On the one hand, he must show voters he is being tough on the Islamic state. But with oil and gasoline prices surging in response to geopolitical risks, he must also avoid steps that would unduly rattle oil markets. That could threaten the global economy and hurt voters already angered by the rising cost of fuel. Obama also faces pressure from some lawmakers in Congress who want to make sanctions on Iran even tighter. The House of Representatives has already passed additional sanctions, and a bill is pending in the Senate. Senior administration officials briefing reporters declined comment on the proposed new sanctions. "We welcome the president's determination and applaud the administration's faithful implementation of the Menendez-Kirk amendment," said a spokesman for Senator Mark Kirk, a Republican who has pushed for additional measures. "To build on this momentum, we hope the Senate will consider amendments to the pending Iran sanctions bill that would continue to increase the economic pressure on the Iranian regime," Kirk's spokesman said. (Additional reporting by Deborah Charles; Editing by Xavier Briand) World Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (5) MetalHead8 wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Saturday, 31 March 2012
Obama says enough world oil to crack down on Iran sales |
Exclusive: Germany makes last-ditch attempt to save transaction tax |
Hungarian president vows to stay on |
In Toulouse suburb, scooter killer is one of us |
UK says report of Afghan plot to kill envoys is credible |
Yemen LNG pipeline blown up, output halted after drone attack |
Expedia files Google complaint to EU regulators |
Yahoo layoffs to begin next week: report |
E-books settlement talks advancing: sources |
EU's Almunia: may probe Motorola, Apple, Microsoft dispute |
Carrie Underwood finds real things to sing about |
Singer Jerry Lee Lewis marries for 7th time |
Outspoken Morocco rapper charged over insulting song |
Clinton, Saudi's Abdullah discuss world oil balance |
Bombs kill 8, wound at least 70 in Thai Muslim south |
Lawyer says U.S. blocks investigation of Afghan massacre |
Mexican presidential favorite vows to restore peace |
German wage deal agreed, averts public-sector strike |
Analysis: Saudi summer oil burn should decline this year |
U.S. drones attack militants in Pakistan, Yemen |
In Myanmar, voters prepare for clash of symbols |
Current TV fires star commentator Olbermann |
Bully director says never meant to make R film |
Boy band mania spreads as One Direction conquer U.S. |
Syria says revolt over, but army still shooting |
Afghanistan presses for answers on long-term U.S. military bases |
Clinton promises U.S. will back Gulf security |
Mali rebels launch assault on key northern town |
U.S. deports Liberian ex-rebel for alleged abuses |
Militant who targeted Australian nuke plant held in France |
Cruise ship heads for Malaysian port after engine fire |
Myanmar's Suu Kyi: from prisoner to would-be lawmaker |
Islamist militants kill at least 10 Yemeni soldiers |
China shuts websites, detains six for spreading online rumors |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01