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  “Tehran Times” published a story titled “EU’s Iran sanctions more bark than bite.” It’s emphasized that even Japan, one of Iran’s strongest allies, has received a "waiver" to ignore the European Union ban and doesn't face banking or any other repercussions for importing Iranian oil.

“South Korea appears ready to halt imports; however, halting imports is not based on a desire to help punish Iran, but lack of insurance availability. Up to now, seven countries, including India have received "waivers" from the U.S. to import oil from Iran. India is the second most populated country in the world and is expected to pass China.

Are sanctions driving the price of crude higher, and what companies will win or lose as a result? Based on Untied States Oil Fund ETF(USO), the market is pricing in zero or possibly less of a premium based on the upcoming sanctions.

China has energy business interests in Iran and contracts to increase Chinas investments. China knows the U.S. has few options available to "punish" China for not following the marching orders and may simply take this opportunity to flex some muscle.”