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Another reason why Pepe Escobar is one of my favorite journalists today: http://thesaker.is/the-un-submersible-us-iran-stalemate/

Cliffhanger
Iranian foreign minister Javad Zarif is correct; INSTEX, already too little too late, is not even enough, as the mechanism does not allow Tehran to continue to export oil, which is the nation’s right. As for the “breach,” Zarif says it’s easily “reversible” – as long as the EU-3 abide by their commitments.

Russian energy minister Alexander Novak concurs: “As regards restrictions on Iranian exports, we support Iran and we believe that the sanctions are unlawful; they have not been approved by the UN.”

Still, Iran continues to export crude, by all means available, especially to Asia, with the National Iranian Oil Co (NIOC) predictably shutting off satellite tracking on its fleet. But, ominously, the deadline set by Tehran for the EU-3 to actively support the sale of Iranian crude expires this coming Sunday. That’s a major cliffhanger. After that, the stalemate won’t be submersible anymore.