Brits Detail the Non-Surrender of Asia
March 3, 2012 • 1:44PM

The mouthpiece of the British financial establishment, London's Financial Times, outlines country by country the refusal of the major Asian economies to buckle under to the American oil/banking sanctions against Iran.

Together China, India, Japan, and South Korea absorb about 60% of Iran's exports. The Financial Times' evaluation is that India and China will maintain current levels (India may even increase its Iranian imports), while Japan and South Korea will reduce consumption enough to win "exemption" from the banking sanctions. For neither country is there agreement with the United States on quite what that means. South Korea, for example, "says it is willing to find alternative sources for some of its Iranian crude but is guarded about the scale or timing of any shift." From press leaks, it seems that the United States is pushing for a 20% reduction, while the two Asian countries are looking at 10%. (Not mentioned by the Financial Times is that Pakistan, a smaller, but still important Asia power, has declared that they will continue with their Iranian oil purchases.)

There is absolutely no incentive for these counties to go along with Anglo/American dictate. Not only do they need the Iran oil to fuel their cars, factories and homes, but each country has a substantial trade in their own products with Iran.

Each of these countries has a substantial internal nuclear program, and for Japan and South Korea, nuclear power export is a major growth and development opportunity. Why the hell would they want to discourage Iran from nuclear development?

The Empire has only threats, and those have not worked. There have been numerous arm-twisting visits by American, British, and EU officials; they obtained press conference statements that China, say, is against an Iranian nuclear weapon, and that they will support UN sanctions—not U.S. sanctions, but rather the non-oil-related UN sanctions.

There comes a time when surrender is no longer possible. The powers of Asia have reached that point.