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The insurance market loses and the trade will not be done in USA dollars.

http://www.tehrantimes.com/economy-and-business/100577-deal-...

We are looking more stupid everyday.

TEHRAN – Russia sharply criticized new U.S. sanctions against Iran on Monday, saying that the measures to punish banks, insurance companies, and shippers that help Iran sell its oil would harm Moscow’s ties with Washington if Russian firms are affected, Reuters reported.

Russia, which has long opposed sanctions beyond those approved by the UN Security Council to pressure Tehran over its nuclear program, called the measures “overt blackmail” and a “crude contradiction of international law.”

The United States ceased most trade with Iran many years ago and has put increasing pressure on other countries to reduce their business with the Islamic Republic.

The measures approved by the U.S. Congress on August 1 build on oil trade sanctions signed into law by President Barack Obama in December that have prompted Japan, South Korea, India, and others to slash purchases of Iranian oil.


http://www.tehrantimes.com/politics/100593-russia-says-new-u...

Eventually the world will simply trade on, bypassing America and the dollar.
The world is changing with new trading partners appearing, a lot of them will not put all their eggs in the dollar basket, then the dollar devaluations will hurt America as it should rather than the whole world.

Regards

Tony


PS,

This is what the Swedes really think of the country we are supporting to be the major influence in Syria:

Swedish minister calls Saudi Arabia a dictatorship

http://www.tehrantimes.com/world/100579-swedish-minister-cal...

Israels future Golan Heights problem with the demise of Assad:

http://www.yourmiddleeast.com/features/could-the-demise-of-a...

One rebel rabble group has already declared that the first thing it will do if it achieves power is to demand the return of Golan.

Israel was in its comfort zone with Assad.

Every action has a reaction.
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