Iran establishes an oil exchange, called the International Oil Bourse (IOB).
~ Thursday 04 August 2011
Source: http://www.tehrantimes.com/economy-and-business/1041-irans-oil-bourse-a-new-pressure-on-us-dollar
On December 31, 2011, Obama signed the "National Defence Authorization Act" for Fiscal Year of 2012.
Source: http://www.thenewamerican.com/usnews/foreign-policy/10460-us-sanctions-state-owned-central-bank-of-iran
The 'NDAA' (Section 1245) allows Obama to will freeze property belonging to the Iranian government. Blocking any deals that would involve the government of Iran or their Central Bank, so that neither can access any funds.
Reference: http://rt.com/usa/news/obama-ndaa-act-iran-645/
11th January, 2012
"Crude oil will be regularly offered on the Oil Bourse in the next Iranian calendar year,
(The Nowruz) which will start on March 20, 2012
~ Manager of the 'National Iranian Oil Company' (NIOC)
Source: http://www.tehrantimes.com/economy-and-business/94459-iran-to-regularly-offer-crude-oil-on-bourse-next-year
"March 20, 2012, which is Noruz, the Iranian New Year, is the target date for the Iranian oil bourse to begin trading crude oil in currencies other than the U.S. dollar." ~ Dated 8th February, 2012.
Source: http://tehrantimes.com/component/content/article/95305
On January 23rd, the European Union formally imposed an oil embargo on Iran , but existing contracts will be honored until July 1st. ~ Dated: 19th March, 2012
Source: http://www.mehrnews.com/en/NewsDetail.aspx?NewsID=1562746
The Brussels-based SWIFT (Society for Worldwide Interbank Financial Telecommunication) handles financial transactions among thousands of banks around the world.
On March 29th, 2012, SWIFT (Under Belgian law) complied to it's home governments decision to discontinue communication services to Iranian financial institutions.
Source: http://www.swift.com/news/press_releases/SWIFT_disconnect_Iranian_banks
The B.R.I.C. nations (Brazil, Russia, India, China and South Africa) have signed an agreement to not trade in U.S. dollars anymore, but in their own currencies. ~ 29th March, 2012
Source: http://further-left-forum.blogspot.com.au/2012/03/no-dollar-trade.html
23rd January, 2012
According to an DEBKA article,
“India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile’s intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran’s total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.”
“Delhi is to execute its transactions . . . through two state-owned banks: the Calcutta-based UCO Bank, whose board of directors is made up of Indian government and Reserve Bank of India representatives; and Halk Bankasi (Peoples Bank), Turkey’s seventh largest bank which is owned by the government.”
Source: http://adask.wordpress.com/2012/01/24/iran-to-sell-crude-oil-for-gold/
Source: http://rt.com/news/iran-india-gold-oil-543/
Source: http://www.debka.com/article/21673/
"By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose Jan 23,".
Reference: http://articles.economictimes.indiatimes.com/2012-01-26/news/30666773_1_oil-imports-iranian-oil-iranian-counterparts
Source: http://www.tehrantimes.com/economy-and-business/1041-irans-oil-bourse-a-new-pressure-on-us-dollar
On December 31, 2011, Obama signed the "National Defence Authorization Act" for Fiscal Year of 2012.
Source: http://www.thenewamerican.com/usnews/foreign-policy/10460-us-sanctions-state-owned-central-bank-of-iran
The 'NDAA' (Section 1245) allows Obama to will freeze property belonging to the Iranian government. Blocking any deals that would involve the government of Iran or their Central Bank, so that neither can access any funds.
Reference: http://rt.com/usa/news/obama-ndaa-act-iran-645/
11th January, 2012
"Crude oil will be regularly offered on the Oil Bourse in the next Iranian calendar year,
(The Nowruz) which will start on March 20, 2012
~ Manager of the 'National Iranian Oil Company' (NIOC)
Source: http://www.tehrantimes.com/economy-and-business/94459-iran-to-regularly-offer-crude-oil-on-bourse-next-year
"March 20, 2012, which is Noruz, the Iranian New Year, is the target date for the Iranian oil bourse to begin trading crude oil in currencies other than the U.S. dollar." ~ Dated 8th February, 2012.
Source: http://tehrantimes.com/component/content/article/95305
On January 23rd, the European Union formally imposed an oil embargo on Iran , but existing contracts will be honored until July 1st. ~ Dated: 19th March, 2012
Source: http://www.mehrnews.com/en/NewsDetail.aspx?NewsID=1562746
The Brussels-based SWIFT (Society for Worldwide Interbank Financial Telecommunication) handles financial transactions among thousands of banks around the world.
On March 29th, 2012, SWIFT (Under Belgian law) complied to it's home governments decision to discontinue communication services to Iranian financial institutions.
Source: http://www.swift.com/news/press_releases/SWIFT_disconnect_Iranian_banks
The B.R.I.C. nations (Brazil, Russia, India, China and South Africa) have signed an agreement to not trade in U.S. dollars anymore, but in their own currencies. ~ 29th March, 2012
Source: http://further-left-forum.blogspot.com.au/2012/03/no-dollar-trade.html
23rd January, 2012
According to an DEBKA article,
“India is the first buyer of Iranian oil to agree to pay for its purchases in gold instead of the US dollar, debkafile’s intelligence and Iranian sources report exclusively. Those sources expect China to follow suit. India and China take about one million barrels per day, or 40 percent of Iran’s total exports of 2.5 million bpd. Both are superpowers in terms of gold assets.”
“Delhi is to execute its transactions . . . through two state-owned banks: the Calcutta-based UCO Bank, whose board of directors is made up of Indian government and Reserve Bank of India representatives; and Halk Bankasi (Peoples Bank), Turkey’s seventh largest bank which is owned by the government.”
Source: http://adask.wordpress.com/2012/01/24/iran-to-sell-crude-oil-for-gold/
Source: http://rt.com/news/iran-india-gold-oil-543/
Source: http://www.debka.com/article/21673/
"By trading in gold, New Delhi and Beijing enable Tehran to bypass the upcoming freeze on its central bank's assets and the oil embargo which the European Union's foreign ministers agreed to impose Jan 23,".
Reference: http://articles.economictimes.indiatimes.com/2012-01-26/news/30666773_1_oil-imports-iranian-oil-iranian-counterparts
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