SubscribeBlack-Market Gas Shelters Iran
Author: spaz926
Website: http://iran.whyweprotest.net/news-current-events/61705-black…
By SPENCER SWARTZ And STEVE STECKLOW
Proposed U.S. sanctions aimed at starving Iran of foreign gasoline could be signed into law before the end of June, but a shadowy network of Middle East gasoline suppliers is already undermining U.S. efforts to pile pressure on Tehran.
Oil traders and oil industry analysts say Iran will have little trouble finding other gasoline supplies in the Persian Gulf, where a black market in fuel-products thrives, even if Washington passes measures that would penalize firms or individuals with business in the U.S. that supply gasoline to Iran.
Capt. Mousa Murad, general manager of the United Arab Emirates’ Port of Fujairah, says gasoline sanctions will likely give a lift to a thriving black-market fuel trade in the Gulf. The region has no shortage of suppliers, he says, who will continue to hide gasoline shipments to Iran because "prices will go up two times, three times."
Despite having the…
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