Iran halts Spain oil export, mulls supply cut to Germany, Italy

Wait a minute--I thought the US was banning other countries from buying oil from Iran.  Iran is playing along by cutting off oil exports to already strapped European countries.  Great, right?  Not so fast.

This raises two disturbing questions:
1) why is Iran announcing this halt of crude oil exports?  Because it infers European countries were non-compliant (i.e. ignoring US threats on the oil ban, while continuing to import oil).
2) which countries are damaged more by the ban?  The oil importers (Euro countries)--or the exporter (Iran)?

In the developed world's desire to punish Iran via economic sanctions, why is Iran more than happy to comply by jumping the gun and cutting off their customers?  And if they do indeed cut off Europe, who is buying from Iran?  The Chinese? Indian?  Russians?  Japanese?  All of the above?


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