March 16, 2012, Iran’s Oil Ministry announced it will stop oil shipments to four more European Union members.

Back in February Iran stopped oil shipments to France and United Kingdom.  Iran had also named four other EU countries that could lose their Iranian oil shipments.

Iranian media reporting that Iran will now stop oil shipments to those other countries.  Those countries are Greece, Italy, Netherlands, Portugal and Spain.

I’ve heard that claim before, but this time it might be for real, and in retaliation for Iran’s exclusion from the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

“It is a direct result of international and multilateral action to intensify financial sanctions against Iran.”-Lazaro Campos, CEO SWIFT

The SWIFT move will affect about 30 Iranian banks.

Washington DC insiders say it’s likely the United States will sanction India, for refusing to take part in the U.S. led oil sanctions against Iran: “Given the level of trade, and in particular oil, between Iran and India, targeting an Indian entity that facilitates Iran’s access to the international financial market should be top of mind for the U.S. Treasury.”-Avi Jorisch, former Treasury Department official

According to the International Energy Agency, India and South Korea have greatly increased the amount of oil they’re buying from Iran.  Japan and South Korea are demanding exemptions from the U.S. oil sanctions, because British Petroleum was able to be exempted. (I told you Obama does not have the support of the International Community, as he claims)