Thursday 12 April 2012

Iranian counter-sanctions


-- This is completely sobering. This and the oil embargo are fierce one-two punches. The loss of income to Europe renders any banker's delusion of growth more nonsensical than it was. There is now an open global trade war underway. Headlines like this appeared throughout the 1930s. Trade wars are almost universally regarded as the casus belli of WWII. Big trade wars always lead to big shooting wars. Seemingly in an instant, the human race straddles a razor-sharp line. On one side is complete destruction and death. On the other side is a new global consciousness. But if the species remains straddling the two for much longer it will be sliced in half and die. -- MCR


Iran bans imports from 100 European companies
Iran reportedly plans to ban imports from European companies as part of its countersanctions against the European Union (EU).


26 April, 2012

Deputy President of Iran Trade Promotion Organization Sasan Khodaei confirmed that Iran has banned imports from 100 European countries.

In an interview with Press TV on Wednesday, Khodaei said Tehran has imposed sanctions against 100 European companies in line with the policy to counter “antagonistic measures” by the EU.

Khodaei added that the banned goods include “luxury items” which Iran has been able to produce them itself.

Tehran’s decision to counter hostile European measures against the country was made after the EU foreign ministers agreed on January 23 to ban oil imports from Iran and freeze the assets of its Central Bank.

The EU has also banned selling grains, diamonds, gold, and other precious metals to Tehran.

On February 15 Iran's Oil Ministry announced plans to cut oil exports to six European countries -- including the Netherlands, Spain, Italy, France, Greece and Portugal -- and in the first step cut crude sales to British and French firms on February 19.

Tehran has so far cut oil exports to Greece, Spain and Germany and is considering halting crude exports to Italy as well.

The US and EU accuse Iran of pursuing a military program under the cover of its nuclear energy work despite the fact that the International Atomic Energy Agency (IAEA) has found no evidence to this end.

Tehran refutes their claims arguing that as a committed member of the IAEA and a signatory to the Non-Proliferation Treaty it is entitled to peaceful uses of the nuclear energy.


Iran exports petrochemicals to 60 countries
MNA reported that Iran exported some USD 14 billion worth of petrochemical products to 60 countries last calendar year which ended on March 19th 2012.

11 April, 2012.

Mr Abdolhossein Bayat MD of National Petrochemical Company said that USD 10.5 billion of oil income will be allocated to the development of national petrochemical industries.

Iran has developed 69 plans to boost its petrochemical output from this year’s 54 million tons to 100 million tons in 2015.

Mr Mohammad Ali Bassaqzadeh production manager of NPC said that 30 kinds of petrochemical products have been exported to Asian, European and African countries over the past 11 months.

Mr Bassaqzadeh said that the figure shows 75% increase compared with the same period last year. Western Europe and China are the main recipients of Iran's petrochemical exports, followed by Southeast Asia, the Middle East, the Subcontinent, Africa and Latin America.

Source - Mehr News Agency

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