Iran Desperate to Sell Oil

Iran has now reversed it's announcement from Sunday that it would cut off oil sales to England and France, and instead is now offering them long term supply deals. Clearly the sanctions, put into effect by the United States, European Union, and specifically England and France are starting to bite.

Not much more is needed to show how much the sanctions have hurt Iran. With no one else around to purchase the oil, the incoming money is just not being replaced, and Iran is being strangled by it.

Yet to be seen, is whether or not the sanctions will have the desired effect of forcing Iran to stop it's nuclear program. One which it says is purely for purposes of creating energy, but yet is bragged by Tehran to be refining uranium well beyond the percentage that is needed for energy. Israel and the US have led a growing group of the world in declaring that the program is clearly for weapons purposes.