Iranian bank to fund imports of essentials from Russia
…from Press TV, Tehran
[ Editor’s Note: Iran is hunkering down for the anticipated US sanctions to kick in. The big ones are triggered in November, including the ban on Iranian oil exports.
This is a throw back to WWII when Roosevelt and Churchill had a call that interrupted Churchill’s dinner party.
They discussed the US State Department sanctions not being strong enough to leave Japan no other option than war, which would have to be started with a first strike by Japan, which they anticipated for the Philippines area.
During an Atlanta meeting that I filmed, British author David Irving handed out the blue note cable that resulted in their chat about stronger sanctions that would leave Japan no other option but war, as oil imports were cut off.
By contrast, Iran is not going to war with a preemtive strike. If an attack happens, it will be the usual false flag with a quick US-Israeli retaliation before its merits can be debated.
Iran has posed a retaliatory cessation off all oil exports from the Gulf – a good non-military counter move – and one it is entitled to make. Iran had specific permission from Trump to do so, where he has publicly stated that, if Iran follows through on counter sanctions on the US, he will double down against them.
That move would have a negative ripple effect on the world economy; but Trump’s claiming the right to do this gives others the right to do the same. But a military option is not included, yet.
If Trump goes into that mode, he will be trying to sell a Mideast war “to save the world from Iranian oil sanctions” – a situation brought on not only by the US sanctions, but initially by the American breach of a UN Security Council agreement on the JCPOA.
Trump will not be successful on pawning the blame on Iran for a worldwide economic crash. That blame will be completely as his feet, with all this timed to happen this autumn during the US midterm elections – a cyclical, high stakes poker game with bluffs and calls for the global economy.
The Trump gangsters who are read in on the game plan will be able to make a ton of money in the futures markets. His crew has gotten away with this insider trading for some time, but their being too greedy might bring them all down in the end … Jim W. Dean ]
– First published … August 05, 2018 –
As Iran is preparing for the first wave of returning US sanctions that could largely hamper its foreign trade, the country’s banks appear to have already created a mechanism for imports of essential goods from Russia.
Bank Saderat Iran (BSI) announced in a statement on Sunday that it had sealed a deal with the Moscow offshoot of Bank Melli Iran (BMI) over a re-financing scheme that envisaged providing €10 million to fund imports of essential commodities, medicines, medical equipment and the raw materials for industrial units.
The rate of the funds that BMI’s Mir Business Bank would provide the BSI would be 2.5 percent with two return periods of six months and a year.
The deal between the two banks would cover imports only from Russia or the Commonwealth of Independent States, Iran’s official IRNA news agency reported.
BSI’s statement further added that the imports subject to the deal with the BMI needed to be approved by the relevant ministry in Tehran.
The parent company of Iran’s Bank Melli in Russia is facilitating money transfer between Iran and Russia.
On August 6, the administration of US President Donald Trump would re-impose a series of economic sanctions that had been lifted after the country signed deal with the permanent members of the UN Security Council plus Germany in 2015.
The deal – the Joint Comprehensive Plan of Action (JCPOA) – envisaged the removal of certain economic sanctions against in return for certain restrictions in Iran’s nuclear energy program. However, US President Donald Trump announced in May that he would pull America out of the JCPOA. He also said he would re-impose the sanctions that the deal had lifted.
This provoked the disagreement of other signatories to the JCPOA with certain other countries including India and Turkey announcing that they would not implement the US sanctions against Iran.
The first wave of sanctions – to strike on Monday – would include a universal ban on Iran’s access to the US dollar as well as prohibitions against the country’s trade in gold and other precious metals among other restrictions.
The second wave of sanctions that would hit in early November would be meant to bring Iran’s oil exports to zero, as US officials have already acknowledged.