Greece turns to Iranian oil as default fears deter trade
Reuters
12-Nov-2011 (3 comments)

Greece is relying on Iran for most of its oil as traders pull the plug on supplies and banks refuse to provide financing for fear that Athens will default on its debt.

Traders said Greece has turned to Iran as the supplier of last resort despite rising pressure from Washington and Brussels to stifle trade as part of a campaign against Tehran's nuclear program.

The near paralysis of oil dealings with Greece, which has four refineries, shows how trade in Europe could stall due to a breakdown in trust caused by the euro zone debt crisis, which is threatening to spread to further countries.

"Companies like us cannot deal with them. There is too much risk. Maybe independent traders are more geared up for that," said a trader with a major international oil company.

>>>
recommended by Jahanshah Javid

Share/Save/Bookmark

 
Veiled Prophet of Khorasan

This is too

by Veiled Prophet of Khorasan on

 

funny or am I insane or both? Maybe they should send "300" Spartans to carry the oil. Folks I hate the IRI but do you blame Greece for dealing with them. Greece needs oil and IRI has got it. 

It do not blame Greece one bit for trying to keep its economy afloat. It is all about national interests. It is a tough sell to tell them "don't deal with IRI but your credit is in toilet with us". What do you expect them to do freeze over?

Besides there is something about ancient rivals bailing out one another. I just hope Greeks remember this. When Iranian people shove out IRI they better side with us. Remember Iranian people need friends we had Armenia; now add Greece.

 


Darius Kadivar

Tonight They Dine in Hell ;0)

by Darius Kadivar on


FG

Greek tourism boycott

by FG on

Americans and other westerners who despise Iran's mullahs for stomping on Iran's people need to organize a boycott of Greek tourism.  Greece is very vulnerable to such a boycott. 

Such a bottoms-up, people-powered campaign would also put far more pressure on the mullahs than anything western governments might have to say.