They aren't buying it anyway. It's just an empty gesture.
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They were buying it up until July. Contracts paid for already. But now will not be honored by Iran. So they won't be getting those shipments they thought they were.
Yeah....not like it will add to their economic woes they are experiencing now. I mean their gas prices are high already. As they also sell by the Liter not just the gallon. But maybe your right. Maybe it won't even cause those gas prices to go higher. Moreover I am sure the Brits can at least afford to pay the upmark. Since they all up with that brent Crude.
I see Dutch Shell has scaled back. But it don't look like they quit all buisness with Iran. Kinda Like the Greeks.
I think you credit Iran with more leverage than they actually have. If Iranian oil was important to the economies of France or Britain do you honestly believe they would place this embargo?
The EU is falling a part. Both economies are headed towards the ways of the PIGS. So anything that affects ones economy with trade. Oil Embargo's and other buisness ventures will naturally affect ones economies. Gas is already rising. Oil will continue to rise.
As to getting in line with what the US wanted and the US giving out vouchers to offset the loss. Yeah, I think they would jump right on it.