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World Meets on Iran Crisis

Iran may yet end up on the docket of the United Nations Security Council for restarting its nuclear-fuel program. But even if the international community can agree to punish it with economic sanctions, will those actions succeed in stopping Tehran"s pursuit of nuclear technology - and possibly a bomb? Many doubt the current diplomatic efforts will have the desired effect, prompting some officials and analysts to lay out a range of so-called "Plan B" options for coping with the ongoing crisis.

As sanctions are on the table, for some experts this means that the time is ripe to prepare the world economy for living without Iranian oil - by developing pipelines in the oil-rich Gulf region to circumvent Iran- dominated transport routes. With global markets already hinting at the impact that action against Iran could have, some say that countries should take steps now to ease the burden of future moves.

China and Russia joined the United States and the European Union this week in insisting that Iran suspend its nuclear program. Going further, the Europeans moved for Iran`s case to be taken up by a meeting early next month of the International Atomic Energy Agency`s board of governors. The IAEA could refer Iran to the Security Council, which could then impose sanctions against Iran - steps that would further isolate it. But neither China nor Russia is yet on board the sanctions train.