Measure Goes into Effect on 6 February
David Cohen, U.S. government’s top Iran sanctions official, said on
Thursday that a measure that takes effect in February could have the most
dramatic impact yet on Iran’s ability to export oil.
Starting 6 February, buyers of Iranian oil must hold payments in special
funds that can be used only for bilateral trade on a list of approved
commodities. If banks transfer Iran's oil earnings beyond their borders, they
will risk losing access to the U.S. banking system. The measure would
effectively lock up a substantial amount of Iran’s funds.
“Iran's oil revenues will largely be shackled within a given country and
only useable to purchase goods from that country,” Cohen said in a speech to the
Foundation for Defense of Democracies. (Reuters, 6 December)
Cohen, undersecretary for terrorism and financial intelligence at the
U.S. Treasury Department, added that the U.S. is committed to increasing the
financial pressure on Iran and will look for innovative ways doing so.
“Virtually all countries that purchase oil from Iran run a significant
trade deficit, meaning the value of their oil imports from Iran is greater than
the value of their exports to Iran,” Cohen said. “As a result, this provision should
lock up a substantial portion of Iran's earnings in each of these countries,”
he added.
Photo credit: Iran’s Kharg Island Oil Export Terminal. (Getty Images)
10 comments:
Great News!
What they have been doing in the last year(s) to solve the problem - all but looking dumb? You have to conclude that the regime is in actual agreement with the sanction policy; Mullahs wanted to destroy the country all along and now they have outsourced that job to Americans ...
LOL !!
Anon 2:47 PM
Congratulations! You've finally realized that the mullahs job was just that!
To screw Iran like the Qajars and hand over parts of its carcass to unknowns like China Russia US and even Turkey.
Look at the gas agreement between Russia and Europe.Russia benefits from Irans misery.That's why they are so keen to support that mullah regime,so that they keep Iran down in the dust!
Every day a new round of Sanctiuons.
Even this sanctions are good opportunity that iran becomes indepoende3nt from oil revenue.
The oil is always there ,it will not flee,
If you sell today less, you will sell tomorrow more
The world needs iran oil
but the nuke Technik and knowledge get lost, if we making a bad dweal and leave the nuke in order to export oil.
exporting oil like last 100 years, brings iran not further
Those idiot who write
"To screw Iran like the Qajars and hand over parts of its carcass to unknowns like China Russia US and even Turkey"
did not understood to be waek and give up the Nuke because of more export, Thast is Qajari politik
Don't cheer to soon, the Mullahs already have found a way around this. They can't import currency from abroad but they can use that currency to buy gold and then import it to Iran, that's what they have been doing in Turkey.
Well, these people are very open about their Anti-Iranian stances:
Interview With Leader of Fadayan Islam:
Palestine is More Important than Iran’s National Interest
http://www.roozonline.com/english/news3/newsitem/archive/2012/december/05/article/palestine-is-more-important-than-irans-national-interest.html
Anon 4:51 PM
Yes to screw Iran like Qajar!
An "idiot" is a person that thinks if you stop pumping oil out of the ground today, you can go back and pump up next week.
By not pumping oil out,the wells will collapse therefor require enormous investment and time to bring them back on line.
North Korea and Pakistan have nuclear weapons.Look how poor their people are with very low living standard.
Iran is heading the wrong direction.
Obviously you don't live in Iran,so have no understanding of the worrying state of the economy that has made peoples lives a daily misery.
Enjoy and fantasize about Iran becoming a "superpower" while living in the comfort of the West.
The Imperalists are heading towards bankrucpy and their actions and words are becoming ever more desperate. Too bad that Iran don't give a rat's ass about their arbitrary sanctioning policies and continues to establish closer ties with nations in the east who are surpassing the US economically.
Anon 9:21 AM
You sound like a broken record.
The regime will give a rats ass when the oil money stops coming in.
China exports most of their products to US and Europe,therefor West calls the shots as regards the control tariff for Chinese made products which in reality are Western companies operating from China.If companies leave China the Chinese are screwed.
China is a over bloated paper tiger.
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