Iran’s new atomic energy chief Ali Akbar Salehi, says Tehran is optimistic about the outcome of negotiations with U.S. & Europe.
Iranian president Hassan Rohani is reportedly prepared to shutter the Fordow uranium enrichment facility, as part of a possible deal with the United States and Europe.
Head of Atomic Energy Organization of Iran Ali Akbar Salehi. – Photo: AP
In exchange, Rohani would seek the removal the harsh economic sanctions facing the Islamic Republic, according to Der Spiegel, the German weekly news magazine.
According to the Der Spiegel report, Rohani plans to announce his offer before the United Nations General Assembly, scheduled for the end of September. Continue Reading »
Turkey, Iran’s biggest natural gas importer, has been paying for its gas-imports with Turkish lira, because US sanctions prevented them from paying in foreign currency ($ or €).
Tighter U.S. sanctions are killing off Turkey’s gold-for-gas trade with Iran and have stopped state-owned lender Halkbank from processing other nations’ energy payments to the OPEC oil producer, bankers said on Friday.
Fahmideh gas refinery and storage facility is seen outside the central city of Qom, Iran – Photo: AP
U.S. officials have sought to prevent Turkish gold exports, which indirectly pay Iran for its natural gas, from providing a financial lifeline to Tehran, largely frozen out of the global banking system by Western sanctions over its nuclear program. Continue Reading »
The Islamic Republic is forced to take drastic steps to preserve supplies of essential items including flour, wheat, sugar & red meat.
Iran bans exports of 50 essential items.
DUBAI – Iran banned the export of around 50 basic goods, its media said on Tuesday, as the country takes steps to preserve supplies of essential items in the face of tightening Western sanctions.
Iran currency exchange – Photo: REUTERS/Raheb Homavandi
The Islamic Republic is under intense financial pressure from US and European trade restrictions imposed over its disputed nuclear program.
The bans have led to a sharp drop over the past year in its oil exports, a major source of hard currency earnings and revenues for the government. Continue Reading »
Inmarsat risks criminal proceedings in US courts, saying satellite distress system was not sold to Iran, but part of “public service obligations”.
By JOANNA PARASZCZUK
A Tel Aviv-based civil rights group accused UK satellite operator Inmarsat plc at the weekend of admitting it provides its technology to Iranian oil tankers.
Iranian crude oil supertanker “Delvar” – Photo: Tim Chong/Reuters
Shurat Hadin (Israel Law Center) warned Inmarsat last month that the company could risk civil as well as criminal proceedings in US courts if it did not stop supplying its guidance services to Iranian military vessels and tankers.
Rich Harris, Inmarsat’s Senior Vice President told Shurat Hadin that the group’s allegations had no basis, and that Inmarsat is not violating sanctions. Continue Reading »
Foreign minister, visiting Jerusalem, asks for time to allow international sanctions to work
Japan urged Israel to be patient with Iran and allow time for international sanctions to take effect, Israel Radio reported Wednesday.
During his current visit to Jerusalem, Japanese Minister for Foreign Affairs Koichiro Gemba met with his Israeli counterpart, Avigdor Liberman, telling him an Israeli strike on Iran would not only cause turmoil and chaos in the region, but would also give the regime in Tehran an excuse to continue pushing its program forward. The international sanctions and leverage against Iran are unprecedented, he said, stressing that Japan shared Israel’s fear of a nuclear-armed Iran. Continue Reading »
SWIFT, which enables most cross-border financial transfers, severs ties with 30 Iranian banks.
The Society for Worldwide Interbank Financial Telecommunication, or SWIFT, announced Thursday that it is cutting off some 30 Iranian banks and subsidiaries from its network, as part of global efforts to punish Iran for its nuclear weapons program. The banks punished are the ones that have already been hit by European Union sanctions.
Some other Iranian banks remain unaffected by the move, which will go into effect about 48 hours after the announcement.
Noor Islamic Bank -- targeted by sanctions - Photo: Reuters
A statement on the SWIFT website said: “Disconnecting banks is an extraordinary and unprecedented step for SWIFT. Continue Reading »