Japan and China thumbed their noses at America and found a way to legally keep the Iran oil flowing. The Western media is downplaying the happening, but it really is a very important issue. Much more important than the media is giving it credit. This is huge in the real world situation and the East is become much more sufficient as you read this…
It is a sign of the future and as the West shoots itself in the foot time and time again…
As London insurance coverage of oil shipments from Iran is to come to an end on July 1st when the European Union’s embargo on Iranian oil takes effect. The Japanese Parliament has voted to extend $7.6bn worth of government guarantees to tanker companies shipping oil from Iran. Henceforth countered the embargo and effect on Japan, who needs this oil as it is some of the best grade oil in the world…
China it seems will get around the issue and supply tankers to Iran to ship their oil to China. That solves the issue as China is dealing with their own tankers. China has more than enough tankers and as China said, “A senior Chinese oil executive said last week that the European insurance ban would not pose a problem and that Iran delivering the crude on China’s own tankers would be one of the options!”
What this really does is to make Asian Insurance grow into the big time and they will start to cover the world in insurance as the Western insurance falters under governmental regulations…
We are talking about billions and billions in lost revenue for the West…
Is the West that rich they can forgo billions in capital?
Kinda like – cutting your nose off to spite your face…
Kyle Keeton
Windows to Russia…