"Last year China, India, Japan, and South Korea accounted for 60 percent of Iran’s total oil exports, providing the country with $100 billion of revenue. As the EU oil sanctions take effect in July, Iran will feel an economic squeeze, which the West is hoping will force Tehran into talks over their nuclear regime. To further deepen the losses felt by Tehran the US are trying to encourage the Asian buyers to reduce their imports of Iranian oil. Unfortunately, the US have found that there suggestions have fallen on deaf ears, as South Korea and Japan are unwilling to cut imports, and China and India may well increase theirs."