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Sanctions on Iran force Uruguay to propose Teheran rice for oil barter deal

Sunday, April 1st 2012 - 08:45 UTC
Full article 4 comments
Agriculture minister Tabare Aguerre, Iran is Uruguay’s best rice client Agriculture minister Tabare Aguerre, Iran is Uruguay’s best rice client

Uruguay will consult with Iran the possibility of exporting rice in exchange for oil, the government of President Jose Mujica said on Friday.

Iran is the major destination for Uruguayan rice but the impact of US and EU sanctions, aimed at curbing Tehran's alleged nuclear ambitions has put a strain on the financing of such operations.

”If Iran is willing to barter oil for rice we will do it and we will take out currency from (the operation),“ said Agriculture Minister Tabare Aguerre.

Uruguay is Latin America's top rice exporter and a close ally of the United States in the region. Washington has said that it could impose sanctions on countries that buy crude from Iran.

Pressure from Washington and Brussels which will implement an EU-wide embargo on Iranian oil beginning next July, as part of the campaign against Tehran has led to a rally in oil prices this year as markets fear supply shortages.

Uruguay is the world's seventh rice exporter, mostly high quality, and Iran for over three decades has been one of the country’s main buyers. Last year rice exports to Iran totalled 90.000 tons.

On Friday also President Barack Obama vowed to forge ahead with tough sanctions on Iran, saying there was enough oil in the world market - including emergency stockpiles - to allow countries to cut Iranian imports.

In his decision, required by a sanctions law he signed in December, Obama said increased production by some countries as well as ”the existence of strategic reserves“ helped him come to the conclusion that sanctions can advance.

”I will closely monitor this situation to assure that the market can continue to accommodate a reduction in purchases of petroleum and petroleum products from Iran,” he said in a statement.

Obama had been expected to press on with the sanctions to pressure Iran to curb its nuclear program, which the West suspects is a cover to develop atomic weapons but which Iran says is purely civilian.

Top Comments

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  • Fido Dido

    “which the West suspects is a cover to develop atomic weapons but which Iran says is purely civilian.”

    While they KNOW (suspects and knowing are two different words and have different meanings) that Iran is far far away from developing a nuclear bomb. Same story, same trick with the WMD in Iraq while robbing us at home infront of our eyes. They need an excuse and chumps to fall for it.

    “Uruguay to propose Teheran rice for oil barter deal”

    Uruguay: Rice for Oil (out of the US dollar)
    India: Gold for Oil (out of the US dollar)
    China: Gold for Oil (out of the US dollar)
    South Korea: Gold for oil (out of the US dollar)
    Japan: uhh, what should I do..listen to the US or play the gold game.

    The so called West who are dependant on Iranian oil are shooting themself in their feet and fools in the US are losing the battle to keep the Dollar as the world reserve currency what will hurt them if they loose.

    Apr 01st, 2012 - 06:27 pm 0
  • The Cestrian

    Its a real shame that Uruguay has to stoop this low due to the Argentine import restrictions.

    Apr 01st, 2012 - 10:31 pm 0
  • Chicureo

    I'm American and I do not support food or medicine embargoes against any nation. In any case, as long as the Iranian government does nothing openly aggressive, eventual world opinion of the American government I think will be negative.

    Apr 02nd, 2012 - 12:30 pm 0
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