SECRETARY CLINTON: Well, absent some action by Iran between now and July 1st, the oil embargo is going into effect. And that's been very clear from the beginning, that we were on this track. I have to certify under American laws whether or not countries are reducing their purchases of crude oil from Iran, and I was able to certify that India was, Japan was, South Korea was. And we think, based on the latest data, that China is also moving in that direction.
That "moving in the right direction" was a 2.2% decrease in May 2012 from the prior year and was enough to get them a waiver. Well, just to show us that they don't really need no stinkin' waivers, China has just decided to invest $20 billion in the development of Iranian oil fields. It really doesn't sound like China ever intends to comply with sanctions. I know, shocking right?
This administration just seems to go from one policy disaster to another.
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