Coming February 6, 2024 . . .
MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop
Coming February 6, 2024 . . . MURDER, POLITICS, AND THE END OF THE JAZZ AGE by Michael Wolraich Pre-order at Barnes & Noble / Amazon / Books-A-Million / Bookshop |
By Benoit Fauçon, Wall Street Journal, July 1, 2012
LONDON—As a European Union oil embargo took effect Sunday, Iran was stepping up its efforts to offset the sanctions by bartering products with China and selling more refined-oil products such as gasoline to its neighbors.
Tehran's strategy is being closely watched because if it doesn't succeed the country may have to shut down some of its oil wells—a move that over time could damage reservoirs and push up global oil prices.
The EU embargo bans the purchase of Iranian oil and prohibits insurance for tankers carrying Iranian oil, which inhibits the transportation of Iranian oil to non-European nations as well. U.S. sanctions that prohibit companies that conduct oil transactions with Iran's central bank from doing business in the U.S. took effect last week, on top of existing penalties [....]
Also see:
Already Plagued by Inflation, Iran Is Bracing for Worse
By Thomas Erdbrink, New York Times, July 1/2, 2012
TEHRAN — Bedeviled by government mismanagement of the economy and international sanctions over its nuclear program, Iran is in the grip of spiraling inflation [...]
The imposition on Sunday of new international measures aimed at cutting Iran’s oil exports, its main source of income, threatens to make the distortion in the economy even worse. With the local currency, the rial, having lost 50 percent of its value in the last year against other currencies, consumer prices here are rising fast — officially by 25 percent annually, but even more than that, economists say.
Increasingly, the economy centers on speculation. In this evolving casino, the winners seize opportunities to make quick money on currency plays, while the losers watch their wealth and savings evaporate almost overnight [...]
And:
Iran fights oil embargo with £150bn reserve
Reuters in Dubai, July 1, 2012
Tehran claims it has stockpiled £150bn in foreign reserves to counter 'malicious' EU ban on imports of crude oil
Comments
by artappraiser on Tue, 07/03/2012 - 5:44am