The EU embargo of Iranian oil is now in place, along with fresh U.S. sanctions against countries dealing with Tehran. The measures are aimed at pressurizing Iran to curb its nuclear programme. The Islamic Republic says however that it's been stockpiling money as a buffer and that selling oil remains no problem - thanks to America exempting some countries from penalties - including China and Singapore. Author and journalist Afshin Rattansi says the sanctions are unlikely to have the desired effect.
Subscribe to RT! http://www.youtube.com/subscription_center?add_user=RussiaToday
Watch RT LIVE on our website http://rt.com/on-air
Like us on Facebook http://www.facebook.com/RTnews
Follow us on Twitter http://twitter.com/RT_com
Follow us on Google+ http://plus.google.com/b/102728491539958529040
RT (Russia Today) is a global news network broadcasting from Moscow and Washington studios. RT is the first news channel to break the 500 million YouTube views benchmark.