10242017Tue

Iran Focus

London, 16 Oct - Donald Trump’s decertification of the Iranian Regime as compliant in the 2015 nuclear deal and the potential for new sanctions against the Middle Eastern country caused oil prices to rise dramatically on Monday.

The international benchmark for oil prices was valued at $57.82 at 01.56 GMT on Monday, October 16, up 65 cents, or 1.1 percent, from the previous close.

Many traders are concerned because they do not know which sanctions will be levied against Iran in the coming weeks by the US Congress and if sanctions are imposed, there may be an oil shortage which would lead to a much sharper price increase.

Iran Focus

London, 2 Oct - Slovenia has launched an investigation into claims that its biggest state-owned bank, Nova Ljubljanska Banka (NLB), laundered almost €1bn from Iran between 2008 and 2010, breaking international sanctions and potentially contributing to the financing of terrorism.

First reported back in July, it is believed that 40-50 daily transactions transferred money through NLB to over 30,000 accounts using obviously fake names like Donald Duck and Mickey Mouse.

The Slovenian government said: “In the case mentioned, the Office for Money Laundering Prevention (OMLP) has received a suspicious transaction report in June 2010 in relation to money laundering and Terrorist Financing Act.”

Iran Focus

London, 11 Sep - Iranian business people are complaining that they receive a lack of support from their government, which is directly affecting their ability to stay afloat in the international market.

They state that the Regime has been so focused on its exports of oil and its derivatives (roughly 90% of Iranian exports), that they have neglected to invest in infrastructure for private sector exports (i.e. food).

This has led to Iranian businesses losing access to their neighbouring markets in the region, particularly when competing with countries like Turkey.

By Jubin Katiraie

The future of Iran’s economy is looking very unsteady as the toman is declining in value. On top of this, the price of gold has been increasing. The toman has lost approximately 12 percent of its value recently.

The deputy chairman of the Iranian parliament’s Budget Commission, Hadi Ghavami, said that there are numerous factors to take into account. However, he indicated that the most exacerbating factor was the lower oil prices that is resulting in an unexpected budget deficit.

Iran Focus

London, 29 Aug - French companies are risking their money and their reputation by doing business with the Iranian Regime, according to Mohammad Amin.

Ever since the 2015 nuclear deal was implemented last year, various companies across the globe have been seeking out deals with the Iranian Regime but could it all be in vain?

On August 7, the Renault Group agreed to terms with Iranian state company IDRO (Industrial Development and Renovation Organization of Iran) to take hold of 60% of the company shares in order to increase the production of Renault vehicles in Iran to 150,000 units per year.

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