Most of Asia Rejects Iran Embargo
Last week we posted a chart highlighting where Iran's oil exports go. After Europe, Asia consumes most of Iran's oil and it appears that they're far less concerned about the risks Iran poses to "global" security than they are about the risks of not having Iranian oil to fuel their economic growth:
Several Asian countries are expressing an unwillingness to join the United States and Europe Union in blocking oil imports from Iran in order to pressure Tehran over its disputed nuclear program.Indian Finance Minister Pranab Mukherjee has said his country cannot do without Iranian oil and will not be cutting its Iranian imports despite other countries' efforts to punish Tehran for its controversial nuclear activities.
South Korea and China have likewise balked at the prospect of curbing Iranian oil consumption.
