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Iran Oil Embargo will Lead to the Polarization of Oil Importing Countries

7 Pages GlobalData February 20, 2012 SKU: GBDT6827751

Iran Oil Embargo will Lead to the Polarization of Oil Importing Countries

Summary

The US and the EU recently imposed sanctions on Iran to prevent it from proceeding with nuclear activities. These sanctions have created a huge reaction globally since Iran is one of the top exporters of oil and gas in the world. Iran supplies significant amounts of quality crude oil to a number of countries in Asia Pacific and Europe. The reaction of the affected countries is expected to result in the polarization of oil importing countries. Asia-Pacific countries such as India, China, Japan, South Korea and Australia, which import a substantial amount of oil from Iran, have expressed their concerns regarding the oil embargo. Countries such as Japan and Australia plan to adhere to the sanctions and are in search of other oil exporting regions to compensate for the oil deficit. Other countries, including China, Pakistan, Turkey and South Korea, plan to continue their trade with Iran and diversify their import options to ensure a continuous supply of the oil required.

Scope
  • The report provides details about the polarization of oil importing countries due to the Iranian Oil Embargo
  • It also highlights the options adapted by different countries by diversifying their oil imports to compensate the deficit oil from Iran
Reasons to buy
  • Obtain an understanding regarding the current energy scenario in Iran
  • Asses the importance of oil and the effect of possible disruptions and diversifications of oil imports on the global economy

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Iran Oil Embargo will Lead to the Polarization of Oil Importing Countries

GlobalData
February 20, 2012

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