Russia Is Surprise Beneficiary of Iran Oil Ban

[Yo_Mama_Been_Loggin]

An early winner from the latest round of Iranian sanctions is emerging: Russia.

The U.S. began enforcing a tough new slate of economic restrictions against Iran on Monday, including a threat to sanction buyers of Iranian crude. That has refineries in Europe and Asia—recent, big buyers of Iran oil—looking for alternative supplies. Russian oil companies have stepped in, stealing customers from Iran. The two countries produce similar grades of crude, making a switch by refiners relatively easy.

But Moscow is also offering Tehran a lifeline for its stranded crude. It says it plans to defy U.S. sanctions and purchase Iranian imports. It’s offering to pay only in the form of barter, and then process the crude for domestic use. That would free up its own oil for more-lucrative crude export markets.

“Russia is playing on all sides,” said Helima Croft, chief commodities strategist at Canadian broker RBC.

https://www.msn.com/en-us/money/markets/russia-is-surprise-beneficiary-of-iran-oil-ban/ar-BBPrVKG?li=BBnbfcN

[Jim__]

1. You mean Trump's action benefitted Putin?

Shocking!!!

[TexasBushwhacker]

2. Yup. Just like the tariff on American soybeans

Means that China is now buying TRIPLE the amount of soybeans from Russia, while American farmers' soy crop rots.

[htuttle]

3. That's actually not a surprise

[McCamy Taylor]

4. That is not a surprise. I predicted that Russia would sell out Iran to boost its own oil profits.

[Blue_true]

5. Surprise on purpose beneficiary. There, I fixed your title. nt