UN Security Council accord on Iran Nuclear Issue
Basically, Russia and China have blocked the US attempt to bring sanctions against Iran, at least until the end of August. Their energy contracts/deals with Iran are far more important in this era of flat petroleum production:
http://news.yahoo.com/s/ap/20060728/ap_on_re_mi_ea/un_iran_nuclear
http://news.yahoo.com/s/ap/20060728/ap_on_re_mi_ea/un_iran_nuclear
UNITED NATIONS - The five permanent members of the U.N. Security Council reached a deal Friday on a resolution that would give Iran until the end of August to suspend uranium enrichment or face the threat of economic and diplomatic sanctions.
...
Because of Russian and Chinese demands, the text is weaker than earlier drafts, which would have made the threat of sanctions immediate. The draft now essentially requires the council to hold further discussions before it considers sanctions.
