If EU imposes any oil embargo on Iran and due to that if Iran export its surplus crude to nations like India, China and Brazil at a deep discount what will be the intentions behind that? It is hard to believe that Iran will give any concessions to any one just like that. Your views?
India and other countries would face the wrath of the western countries for keeping their channel open with Iran. At the same time, these countries too would like keep a check on Crude Price in the market using this situation. Iran would like to sell their Crude Oil to any one who is willing to buy their Crude in order to meet their FE requirement. In the whole process, there are all probability that these countries would get the Crude and LNG at bargain price. It will have a cascading effect on OPEC pricing and Brent Crude price.
I love this, it will have check and balance on Crude Price in international market :)