Posts Tagged: iran sanctions

ECB faces US pressure over Iran

21 February 2013 - 6:51 am
 

The US Congress is preparing new Iran sanctions legislation that would target the European Central Bank’s system for settling cross-border bank payments.

The proposed bill is part of a package of measures designed to pressure the ECB to do more to prevent Iranian companies and banks from using the Target2 payments system to conduct transactions involving euros.

 The legislation, which could be introduced next week, is aimed at closing loopholes to earlier financial sanctions which the US Congress has imposed on Iran over the past 18 months to slow its nuclear programme.

Previous sanctions have made it extremely hard for Iran to conduct cross-border oil business in US dollars, but have been less successful at closing off business in other currencies.

Imposing sanctions on Iran has been one of the few subjects that has enjoyed bipartisan support in Congress at a time of intense partisan division in Washington. >> Read More

China warns US over anti-Iran sanctions

12 February 2013 - 13:14 pm
 
China has warned that the US sanctions recently imposed against a Chinese individual and certain companies over their alleged trading with Iran will harm Beijing’s relations with Washington, urging the US to “correct its mistaken policy.”

Chinese Foreign Ministry spokeswoman Hua Chunying said in a statement on Monday that the US measure “seriously violates the norms of international relations and harms China’s interests.” 

“China urges the United States to immediately correct its mistaken policy and revoke these irrational sanctions toward the relevant companies and individuals and cease taking actions that harm China’s interests and China-US relations,” the statement further read. 

The United States on Monday imposed sanctions on a Chinese businessman and a number of firms over the allegation that they have sold Iran items banned under the US Arms Control Act and its Export Administration Act.  >> Read More

 

Between the Chinese ‘surprise’ RRR and the Iran export halt to UK and France (and escalating tensions), Oil prices are off to the races this evening. WTI front-month futures have just broken $105 (now up more than 10% in the last two weeks), the highest levels in over nine months and just 8% shy of the 5/2/11 post-recession peak just under $115. Brent (priced in EUR) remains off last week’s intraday highs (as EUR strengthens) but still above the pre-recession peak but in USD it traded just shy of $121 – well above last week’s peak. Of course, this will be heralded as a sign of demand pressure from a ‘growing’ global economy rather than the margin-compressing, implicit-taxation, consumer-spending-crushing supply constraint for Europe and the US that it will become in the not too distant future. As we post, The Guardian is noting that US officials are commenting that “Sanctions are all we’ve got to throw at the problem. If they fail then it’s hard to see how we don’t move to the ‘in extremis’ option.” The impact of any escalation from here is gravely concerning with PIMCO’s $140 minimum and SocGen’s $150-and-beyond Brent prices rapidly coming into focus – and for those pinning their hopes on the Saudis coming to the rescue (and fill the Iranian output gap), perhaps the news that our Middle-East ‘allies’ cut both production and exports in December will stymie any euphoria.

From The Guardian: US officials believe Iran sanctions will fail, making military action likely

• Growing view that strike, by Israel or US, will happen
• ‘Sweet spot’ for Israeli action identified as September-October
• White House remains determined to give sanctions time

It’s not that the Israelis believe the Iranians are on the brink of a bomb. It’s that the Israelis may fear that the Iranian programme is on the brink of becoming out of reach of an Israeli military strike, which means it creates a ‘now-or-never’ moment,” he said.

That’s what’s actually driving the timeline by the middle of this year. But there’s a countervailing factor that [Ehud] Barak has mentioned – that they’re not very close to making a decision and that they’re also trying to ramp up concerns of an Israeli strike to drive the international community towards putting more pressure on the Iranians.”

On 15th Feb ,We had written about WTI CRUDE : http://bit.ly/wWls2G

On 8th Feb ,We had written about BRENT CRUDE :http://bit.ly/xL0EAC

 

Between the Chinese ‘surprise’ RRR and the Iran export halt to UK and France (and escalating tensions), Oil prices are off to the races this evening. WTI front-month futures have just broken $105 (now up more than 10% in the last two weeks), the highest levels in over nine months and just 8% shy of the 5/2/11 post-recession peak just under $115. Brent (priced in EUR) remains off last week’s intraday highs (as EUR strengthens) but still above the pre-recession peak but in USD it traded just shy of $121 – well above last week’s peak. Of course, this will be heralded as a sign of demand pressure from a ‘growing’ global economy rather than the margin-compressing, implicit-taxation, consumer-spending-crushing supply constraint for Europe and the US that it will become in the not too distant future. As we post, The Guardian is noting that US officials are commenting that “Sanctions are all we’ve got to throw at the problem. If they fail then it’s hard to see how we don’t move to the ‘in extremis’ option.” The impact of any escalation from here is gravely concerning with PIMCO’s $140 minimum and SocGen’s $150-and-beyond Brent prices rapidly coming into focus – and for those pinning their hopes on the Saudis coming to the rescue (and fill the Iranian output gap), perhaps the news that our Middle-East ‘allies’ cut both production and exports in December will stymie any euphoria.

From The Guardian: US officials believe Iran sanctions will fail, making military action likely

• Growing view that strike, by Israel or US, will happen
• ‘Sweet spot’ for Israeli action identified as September-October
• White House remains determined to give sanctions time

It’s not that the Israelis believe the Iranians are on the brink of a bomb. It’s that the Israelis may fear that the Iranian programme is on the brink of becoming out of reach of an Israeli military strike, which means it creates a ‘now-or-never’ moment,” he said.

That’s what’s actually driving the timeline by the middle of this year. But there’s a countervailing factor that [Ehud] Barak has mentioned – that they’re not very close to making a decision and that they’re also trying to ramp up concerns of an Israeli strike to drive the international community towards putting more pressure on the Iranians.”

On 15th Feb ,We had written about WTI CRUDE : http://bit.ly/wWls2G

On 8th Feb ,We had written about BRENT CRUDE :http://bit.ly/xL0EAC

Russia, India reject anti-Iran sanctions

17 December 2011 - 10:19 am
 

Moscow and New Delhi have warned Western countries against the imposition of unilateral sanctions on Iran, saying that such measures are counter-productive.

According to Press TV, in a joint statement issued after Indian Prime Minister Manmohan Singh and Russian President Dmitry Medvedev held summit talks in Moscow, the two countries voiced support for the inherent right of states to use nuclear energy for peaceful purposes.

The joint statement further called for dialogue and diplomatic means to resolve Iran’s nuclear issue.

 

iran_khomeini

Gates wants Iran sanctions in ‘weeks, not months’

 

Iran starts higher uranium

Iran begins uranium enrichment to 20 percent

Breaking News – Iran Breaks off the Shackles of Versailles Nuclear Bomb Imminent

Updated at 14:25/9th Feb/Baroda


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