| Kippreport.com

The ‘prying’ game—Smooth sailing despite Syrian oil loss, unless Iran interferes

August 20, 2011 11:56 by Reuters

…can count only on one firm ally – Iran, the world’s fourth-largest oil producer and itself subject to years of U.S. sanctions, although it still exports oil to Europe and Asia.

“The main sanctions (on Syria) that are starting to bite are really coming from Saudi Arabia, which has cut off support for Assad,” Kirsch said.

“That’s going to push Assad closer to Iran for now – they can provide him with the bullets he needs given how he’s chosen to deal with this rebellion,” he added.(By David Sheppard and Ikuko Kurahone; Writing by Dmitry Zhdannikov, additional reporting by Jessica Donati, Zaida Espana and Claire Milhench, editing by Jane Baird)

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Tags: Iran, iran oil, markets, oil, Syria, Syria ally Iran, US sanctions, Vitol