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Iran Preparing for U.S. Sanctions Targeting Fuel Imports

(Washington Post) Thomas Erdbrink and Colum Lynch - As Congress prepares to target Iran's vital fuel imports, observers say Tehran has been laying the groundwork to resist the U.S. sanctions. Iran has over the past four years reduced its dependence on foreign imports of refined oil products from about 40% of its domestic needs to just under 30%, according to analysts. The government is expanding its capacity to refine its own oil, experimenting with alternative fuels and cutting consumption by gradually eliminating subsidies on gasoline. In the past six months, thanks to an elaborate rationing system, domestic gasoline consumption has dropped by nearly 20%. At the same time, Iran has built up its strategic reserves by buying refined oil products from India, Turkmenistan and the Netherlands.
2010-06-24 08:54:42
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