Iran Says It Can Live Without Oil Money

Although it’s not known what “Plan B” would be, and being that oil revenues make up half of the government funding (as the article points out), a plausible guess would be on the exporting of nuclear energy since that progam is quite large and developed by now. Only time will tell.

Iran says it may stop exporting oil if international sanctions against it are intensified, adding that it has a contingency plan for running the country without oil revenues.

According to Reuters, Iranian Oil Minister Rostam Ghassemi told reporters in Dubai on Tuesday October 23: “If sanctions intensify, we will stop exporting oil.”

“We have prepared a plan to run the country without any oil revenues,” he added. “So far to date, we haven’t had any serious problems, but if the sanctions were to be renewed we would go for ‘Plan B’.” Continue reading

China’s Military Paper Warns US Of Armed Conflict Over Sea Dispute

“Anyone with clear eyes saw long ago that behind these drills is reflected a mentality that will lead the South China Sea issue down a fork in the road towards military confrontation and resolution through armed force,” the People’s Liberation Army newspaper said, according to a Reuters report.

Full article: China’s Military Paper Warns US Of Armed Conflict Over Sea Dispute (International Business Times)