Iranian Rial

[climber7]

Now the guards are turning against him 

 

Iran Guards Call on President Rouhani to Halt Rial's Drop

 

 

 

 

Ladane Nasseri

•  

 

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(Bloomberg) -- Iran’s Revolutionary Guards, in unusually pointed language, called on President Hassan Rouhani to do more to prop up the rial after the currency fell to a historic low this week in anticipation of renewed U.S. sanctions.

News & Stock(Bloomberg) -- Iran’s Revolutionary Guards, in unusually pointed language, called on President Hassan Rouhani to do more to prop up the rial after the currency fell to a historic low this week in anticipation of renewed U.S. sanctions.

 

 

“The unique and extensive backing you benefited from in past weeks shouldn’t preclude you from taking revolutionary actions to control prices and prevent the enormous increase in the price of foreign currency and gold,” Guard commander Mohammad Ali Jafari was quoted as saying in an open letter to Rouhani, published by the Tasnim news agency. “Decision-making in today’s difficult circumstances necessitates revolutionary determination and decisiveness in dealing with certain managers’ weaknesses.”

 

 

The call to revolutionary action comes from a powerful military organization that controls a range of local companies. It also plumbs ordinary Iranians’ growing frustration with the Rouhani government’s response to the tumbling of the rial and the poor state of the economy. If senior Iranian officials have in the past expressed support for Rouhani’s efforts to shield Iran from the sanctions’ fallout, then the Guards’ language on Tuesday was harsher, demanding that he immediately take more forceful action to deliver results.

In a separate appeal, some 200 lawmakers sent Rouhani a letter demanding that he shake up his economic team and replace the minister for economic and financial affairs and the minister for industry, trade and mines, the semi-official Iranian Students’ News Agency reported, quoting Abolfazl Soroush, a member of parliament for Tehran.

The rial sank to 116,000 to the dollar on the black market on Sunday from about 90,000 last week, far weaker than the official rate of 44,070. Authorities have rounded up more than two dozen merchants who they say exploited government currency measures for personal gain, in an effort to show they’re fighting profiteering and trying to cushion the blow of the U.S. economic offensive.

On Monday, President Donald Trump toned down the escalated rhetoric that has characterized exchanges between Tehran and Washington since the U.S. withdrew from an international nuclear pact with Iran in May, saying he’d be willing to meet with Rouhani and other Iranian leaders without preconditions “anytime they want to.”

U.S. officials later appeared to walk back those comments, saying Iran must downgrade its military ambitions and involvement in regional affairs for talks to talk place.

An adviser to Rouhani said the U.S. would need to show that it respects Iran and is returning to the nuclear deal that Trump rejected. Such steps “would pave the current bumpy road of talks,” Hamid Aboutalebi said in a tweet.

Major policy changes in deference to a U.S. administration that’s undermined the nuclear deal and vowed economic war against Tehran are unlikely. At the same time, a year into his second term, Rouhani faces mounting pressure both from the Iranian people and hardline political rivals to deliver on electoral promises, including job creation.

 

 

©2018 Bloomberg L.P.

 

https://www.bloombergquint.com/markets/2018/07/31/iran-guards-head-calls-on-president-rouhani-to-halt-rial-s-drop#gs.UtZwSU8

[climber7]

Wonder what happened to Screwball?  🤔

[WheresmyRV?]

4 hours ago, climber7 said:

Wonder what happened to Screwball?  🤔

I'm wondering about him too.

[Freedomwish]

On 7/31/2018 at 4:28 PM, climber7 said:

Wonder what happened to Screwball?  🤔

Would really suck if he gave up.  

 

Hope there's a great surprise waiting for us all at the end of this wild currency ride.

[pokerplayer]

15 minutes ago, Freedomwish said:

Would really suck if he gave up.  

 

Hope there's a great surprise waiting for us all at the end of this wild currency ride.

 

I remember him saying he was on another site. I went there to see if he gave up on DV. Had not been on that site either in a spell. I'm thinking he just needs a break.

 

  pp

Edited August 2, 2018 by pokerplayer
Spelling, what else ?

[Freedomwish]

On 8/2/2018 at 3:47 PM, pokerplayer said:

 

I remember him saying he was on another site. I went there to see if he gave up on DV. Had not been on that site either in a spell. I'm thinking he just needs a break.

 

  pp

 

Yeah, perhaps he's taking a break.  It's been bananas for a bit, but we're continuing in keeping the faith!

Hope all's good with ya' PP!

[Freedomwish]

Wait.....wait....wait....... SAY WHAAAAAAAAAAAAAT?!!! ....THIS IS DRIVING ALL NUTS, HUH?!! 

European allies uneasy as US restores Iran sanctions 

https://www.yahoo.com/news/european-allies-uneasy-us-restores-iran-sanctions-202709057--politics.html

 

In this July 30, 2018, photo, an Iranian street money exchanger holds a U.S. banknote in downtown Tehran, Iran. As the Trump administration readies to re-impose sanctions on Iran that were lifted by the Obama administration under the nuclear deal, American allies fear greater regional instability. Sanctions on trade in Iranian metals and automobiles go back into effect Monday. The more significant sanctions _ those on Iran’s oil sector and central bank _ go back into effect in November (AP Photo/Vahid Salemi)

WASHINGTON (AP) — As the Trump administration readies to re-impose sanctions on Iran that were lifted under the 2015 nuclear accord, America's European allies fear greater regional instability.

President Donald Trump's withdrawal from the landmark agreement, signed by the U.S. and five other world powers, remains one of the most consequential foreign policy decisions of his presidency.

Secretary of State Mike Pompeo said Sunday that renewed U.S. sanctions on Iran will be rigorously enforced and remain in place until the Iranian government radically changes course. While calling sanctions an important pillar in U.S. policy toward Iran, he said the administration is open to looking beyond sanctions but that would "require enormous change" from Tehran.

"We're hopeful that we can find a way to move forward but it's going to require enormous change on the part of the Iranian regime," Pompeo told reporters aboard his plane on his way home from a three-nation trip to South East Asia. "They've got to behave like a normal country. That's the ask. It's pretty simple."

Pompeo called the Iranian leadership "bad actors" and said Trump is intent on getting them to "behave like a normal country."

Many U.S. allies believe that such language is code for regime change, according to two European diplomats involved in negotiations with the Trump administration over how sanctions would be re-imposed.

The sanctions that go back into effect on Monday cover Iranian trade in automobiles and metals, including gold. The U.S. also has banned imports of Iranian products such as carpets and pistachios and revoked licenses that allowed Iran to purchase U.S. and European aircraft. Iran acquired five new European commercial planes on Sunday before the sales were cut off.

The last and most significant sanctions — those on Iran's oil sector and central bank — will be restored on Nov. 4. Iranian oil sales are a crucial source of hard currency. 

The nuclear deal lifted international sanctions in exchange for Iran agreeing to restrictions on its nuclear program. U.N. inspectors said Iran was complying with the deal, but Trump argued that it didn't do enough to curb Iran's malign activity in the region. Trump administration officials also argued that because the U.S. lifted sanctions against Iran as part of the agreement, it in effect stripped Washington of one of its most powerful tools to penalize Tehran.

European countries say they remain committed to the agreement, seeing it as the surest way to safeguard their national security.

"The problem is: What next?" one of the European diplomats said, referring to concerns that the U.S. is eyeing regime change as the sanctions' end goal. Both diplomats spoke on condition of anonymity, as they were not authorized to brief the media on ongoing negotiations.

If the re-imposed sanctions caused the government in Tehran to collapse, Iran would likely devolve into civil war like what unfolded in Syria or radicals would assume power, the diplomat said.

A deepening of Iran's economic crisis could also lead to an influx of refugees and migrants into Europe like that seen on the heels of the Syrian conflict.

Pompeo noted that the U.S. has long designated Iran as the world's foremost state sponsor of terrorism and that Iran cannot expect to be treated as an equal in the international community until it halts such activities.

"Perhaps that will be the path the Iranians choose to go down," he said Sunday. "But there's no evidence today of a change in their behavior."

In the meantime, he said, "we're going to enforce the sanctions."

Supporters of the Iran agreement have long argued that the U.S. departure would alienate European allies who partnered with the U.S. in the negotiations.

We "remain firmly committed to ensuring (the deal) is upheld and we continue to abide by our commitments," the second European diplomat said. "If we cannot fulfill these, this risks Iran deciding that it no longer has to abide by the restrictions."

Iran's economy was plunged into a downward spiral following Trump's announcement that the United States was scrapping the nuclear deal. The downturn has sparked waves of protests across Iran.

___

Lee reported from aboard a U.S. military aircraft.

[Freedomwish]

Tell me guys, that either is just all smoke as usual, or something is definitely gonna' go down as stuff behind the scenes are happening......especially that Adam Montana is gearing up of what's to might be happening with the Dinar alone next month if the HCL's popped?!  

 

I'll be at the bar tonight, sound off!! 

[Freedomwish]

Maybe I should had a beer during my lunch break and forget it🍺..........just would suck if this thing shuts down indefinitely if nothing comes out of the talks supposedly today....

 

http://www.msn.com/en-us/news/world/us-moves-to-restore-some-iran-sanctions-lifted-under-nuclear-deal/ar-BBLzglx?ocid=ientp

 

"Iranian President Hassan Rouhani is expected to give a speech around 1 p.m. Washington time, addressing the economy and Trump’s recent offer to meet with him.

The administration officials said the economy has lagged in large part because of widespread corruption and Islamic Revolutionary Guard Corps domination. One official noted that almost 100 foreign companies have announced their intention to leave the Iranian market" 

 

[Freedomwish]

Annnnnd, that goes that.....jeesh. 

 

Iran's Rouhani dismisses Trump call for talks on eve of new sanctions

http://www.msn.com/en-us/news/world/irans-rouhani-dismisses-trump-call-for-talks-on-eve-of-new-sanctions/ar-BBLzPwI?ocid=ientp

 

Iranian President Hassan Rouhani dismissed a U.S. call for talks on Tuesday, the eve of the imposition of new sanctions that follows Washington's decision to pull out of an agreement over Iran's nuclear programme.

The United States is due to impose new sanctions against Iran on Tuesday intended to cripple its economy, implementing President Donald Trump's decision to break with European allies and exit the 2015 agreement.

Washington has said the only way Iran could avert the sanctions would be to agree to new negotiations over its missile and nuclear programmes."We are always in favour of diplomacy and talks ... But talks needs honesty," Rouhani said in a speech broadcast live on state television.

"The U.S. reimposes sanctions on Iran and pulls out of the (2015) nuclear deal, and then wants to hold talks with us," he said. "Trump's call for direct talks is only for domestic consumption in America ahead of elections ... and to create chaos in Iran."

Under the 2015 agreement Iran agreed to curbs on its nuclear programme in return for the lifting of economic sanctions. The Trump administration argues that the curbs did not go far enough and it wants to force Iran back to the negotiating table.

Iran says that by abandoning the agreement Washington has shown it cannot negotiate in good faith. Last Month, Trump said that he would be willing to meet Rouhani without preconditions to discuss how to improve relations.

Senior Iranian officials and military commanders have rejected Trump’s offer of talks as worthless and “a dream”, saying his words contradicted his action of reimposing sanctions.

________________________________________

 

Just looking forward for something to happen on that darn HCL at this point.  Oh well. 

More whisky later.

 

 

[jaman]

the way their people are raising up,we shouldn't have long to wait....

[screwball]

On 8/3/2018 at 5:47 AM, pokerplayer said:

 

I remember him saying he was on another site. I went there to see if he gave up on DV. Had not been on that site either in a spell. I'm thinking he just needs a break.

 

  pp

Still around just was taking a break...watching what Iran does. Big news them singing and passing CTF bill now will get FATF compliance we hope, can be on the fires without it 

[screwball]

On 8/3/2018 at 5:32 AM, Freedomwish said:

Would really suck if he gave up.  

 

Hope there's a great surprise waiting for us all at the end of this wild currency ride.

Will never give up on Iran or Iraq. I am diehard all the way to the end

[screwball]

2 hours ago, jaman said:

the way their people are raising up,we shouldn't have long to wait....

Exactly 

[screwball]

The Civil Aviation Organization of Iran issued a directive on Thursday, saying that the foreign currency needed by airlines to finance their ongoing operations would be determined at the rates set by the Central Bank of Iran’s Sana system, as the government would no longer supply forex at subsidized rates. 

Sana rates are the average of exchange rates at which foreign currencies are traded at bureaux de change on any given day. 

Fees paid to airports and  maintenance costs that should be paid in foreign currency take a huge chunk out of airlines' expenditure budget. Without subsidized foreign currency, such expenses would weigh down airlines’ bottom line, leaving them with no options but to increase ticket prices. And they did raise the fares, and fast.

 

[screwball]

In the article titled “Amendments to CFT Law, a Step in Right Direction” published on Monday, Article 1 of Iran’s new CFT law was assessed against parts of the Financial Action Task Force's Recommendation 5 and its interpretive notes. Article 1 is followed by four notes that will be elaborated at this stage.

FATF's interpretive note to Recommendation 5 stipulates that:

“It should also be an offence to attempt to commit the offence of terrorist financing … Terrorist financing offences should not require that the funds or other assets were actually used to carry out or attempt a terrorist act(s)”.

Notes 1 and 2 of Article 1 of the CFT law cover these issues, which state that any person who collects or provides funds or assets for the purposes mentioned at the outset of the article, and before these funds and assets are put to use or presented to terrorist individual/s and organization/s, the intention is suspended due to factors beyond one's control [that person] is considered the financer of terrorism. Note 2 determines the punishment for such a person.

Besides, it should be noted that the issue of attempting a crime has been extensively covered by Iran’s Penal Code, Section Three (Crimes), Chapter 1 (Attempting Crimes) and this chapter applies to all crimes defined in all other laws, including the CFT law.

Furthermore, the interpretive note to Recommendation 5 reads as follows:

“Terrorist financing offences should apply, regardless of whether the person alleged to have committed the offence(s) is in the same country or a different country from the one in which the terrorist(s)/terrorist organization(s) is located or the terrorist act(s) occurred/will occur."

This has been covered in note 3 of Article 1 of CFT law, which states: Prosecution under the title of financing of terrorism against natural and legal persons will be carried out based on this law, regardless of the place where the crime is committed or where the offender is located and what his/her nationality is.

In the former law, note 2 of Article 1 stated that the acts of liberation groups fighting against foreign occupation, etc. are not considered financing of terrorism. In the amended law, the focus is on introducing terrorists rather than the exceptions.

Based on United Nations Resolution 1373, a national committee shall be established, which will publish the national list of terrorists and decide about related details. The national committees of each country have their own criteria for their designations at the national level and Iran’s Supreme National Security Council will act accordingly based on the Iranian Constitution and its Article 154.

The interpretive note to Recommendation 5 asserts that:

“Effective, proportionate and dissuasive criminal sanctions should apply to natural persons convicted of terrorist financing.”

 Article 2 of Iran’s CFT law introduces a range of punishments starting from the harshest penalty to imprisonment, fines and confiscation of funds and assets. An important point is that as per the FATF Action Plan, “confiscation of the property of corresponding value” has also been covered in this article, which meets one of the items of the Action Plan.

The interpretive note to Recommendation 5 also points out that:

 “Criminal liability and sanctions, and, where that is not possible …, civil or administrative liability and sanctions, should apply to legal persons. Such measures should be without prejudice to the criminal liability of natural persons.” 

Article 4 of the CFT law mentions that legal persons who commit these crimes will be punished as per the Penal Code. In the Penal Code, there is a thorough range of punishments, including dissolution, confiscation of property, lifetime prohibition on pursuing certain occupational and social activities, fines, etc. for legal persons. It has also been expressly mentioned that this does not preclude punishment of natural persons.

Freezing, seizure and confiscation are very important issues for a successful combating financing of terrorism regime.  These are mainly covered in Recommendation 4 and its interpretive note.

The quotations, reproduced below from Recommendation 4 (and other recommendations), are based on the latest version of FATF recommendations (2012). It should be pointed out that Iran’s Action Plan is based on the older version of recommendations. So complying with the former “special recommendations” should be technically adequate for Iran to claim it has met the requirements.

However, in order to have a more powerful and strong CFT law, Iran has attempted to align its CFT law with the latest version of standards. The former generation of recommendations included fewer details in this respect. For example, the Special Recommendation 3 asserted that:

“Each country should adopt and implement measures, including legislative ones, which would enable the competent authorities to seize and confiscate property that is the proceeds of, or used in, or intended or allocated for use in, the financing of terrorism, terrorist acts or terrorist organizations.”

Recommendation 4 (2012) asks countries to adopt legislative measures “to enable their competent authorities to freeze or seize and confiscate the following, …: (a) property laundered, (b) proceeds from, or instrumentalities used in or intended for use in money laundering or predicate offences, (c) property that is the proceeds of, or used in, or intended or allocated for use in, the financing of terrorism, terrorist acts or terrorist organizations, or (d) property of corresponding value."

Recommendation 4 continues:

“Such measures should enable the authority to: (a) identify, trace and evaluate property that is subject to confiscation; (b) carry out provisional measures, such as freezing and seizing …"

Article 5 of the CFT law makes it obligatory for the judiciary and law enforcement forces to: a) identify, b) detect, c) freeze, or seize: 1) funds used, 2) funds allocated for, 3) proceeds derived, 4) properties that are the subject of the law , 5) proceeds that, in full or in part, have been transferred into other property, 6) property and proceeds that have been intermingled with legitimate property.

As can be seen, most topics relating to financing of terrorism in the new recommendation have been covered in Article 5. It is also in line with the CFT convention, Article 8 of which states: “… identification, detection and freezing or seizure of any funds used or allocated for the purpose of committing the offences…” (Here, the emphasis is on item “b” above: “proceeds from, or instrumentalities used in or intended for use in money laundering or predicate offences.

As is evident, instrumentalities used in money laundering and predicate offences have been mentioned and the instrumentalities used or intended for use in terrorist financing have not been mentioned. The same has not been prescribed by the CFT convention either and shall not be included in Iran’s Action Plan as well.)

The interpretive note to Recommendation 5 asks countries to consider “organizing or directing others to commit an offence” as an offence. Article 7 of the CFT law has covered this issue with more severe punishments for such persons.

Recommendations 10, 11 and 20, which respectively deal with Customer Due Diligence, Record Keeping and Suspicious Transactions Reporting, are reflected in articles 13 and 14 of the CFT law.

Recommendation 35 of FATF states:

“Countries should ensure that there is a range of effective, proportionate and dissuasive sanctions, whether criminal, civil or administrative, available to deal with natural or legal persons …. that fail to comply with AML/CFT requirements."

Note 1 of Article 14 of the CFT law considers punishments for both natural and legal persons who fail to carry out their legal obligations.

Recommendation 14 dealing with “tipping off” has also been covered in note 2 of Article 14 of the CFT law.

The last issue covered by this article emphasizes on “including terrorist financing offences as predicate offences for money laundering”. This has been included in Article 15 of Iran’s amended CFT law.

More details can be covered in this article, but the comparisons made above give enough information to readers to get a sense of the amended law and how it complies with international standards. The related bylaws will cover more details.

Technically speaking, we should keep in mind that no law should incorporate all details of standards, otherwise this may indicate that it is not going to be implemented!

Considering the fact that Iran has been the victim of numerous terrorist activities and internationally known terrorists stalk its borders, Iran is determined to combating terrorism and financing of terrorism. This determination deserves the acknowledgment and appreciation of the international community. 

 

[screwball]

The Central Bank of Iran has released the updated list of certified exchange bureaux currently active in the country, as it pursues a crackdown on unlicensed moneychangers that have proven a bane of the country's currency market.

According to the official website of CBI, the regulator has authorized 640 exchangers, which shows an increase of 22 since the start of the new Iranian year on March 21. 

[gregp]

4 hours ago, screwball said:

The Central Bank of Iran has released the updated list of certified exchange bureaux currently active in the country, as it pursues a crackdown on unlicensed moneychangers that have proven a bane of the country's currency market.

According to the official website of CBI, the regulator has authorized 640 exchangers, which shows an increase of 22 since the start of the new Iranian year on March 21. 

 

Good to see you posting Screwball! Dubai was sounding so good!

[pokerplayer]

Welcome back SB ! When do you figure we may see some positive movement ?

 

   pp

[blueskyline]

Welcome back k SB 

[Freedomwish]

16 hours ago, screwball said:

Will never give up on Iran or Iraq. I am diehard all the way to the end

DUDE?!!!!  DO YOU HAVE ANY IDEA WHAT'S IT'S BEEN LIKE FOR US AND ME HAVING WHISKEY DRINKS AT THE BAR ON MY OWN WONDERING WHERE YOU'VE BEEN AND WHAT'LL HAPPEN WITH THIS CRAZY CURRENCY?!!  WELCOME BAAAAAAAACK!!! 

 

 

[screwball]

13 hours ago, Freedomwish said:

DUDE?!!!!  DO YOU HAVE ANY IDEA WHAT'S IT'S BEEN LIKE FOR US AND ME HAVING WHISKEY DRINKS AT THE BAR ON MY OWN WONDERING WHERE YOU'VE BEEN AND WHAT'LL HAPPEN WITH THIS CRAZY CURRENCY?!!  WELCOME BAAAAAAAACK!!! 

 

 

Yes I read the posts...LOL

[screwball]

17 hours ago, pokerplayer said:

Welcome back SB ! When do you figure we may see some positive movement ?

 

   pp

I was hoping for positive movement months ago, but trump has thrown a monkey wrench...I personally see trump sanctions are a good thing because he has stated that he wants Iran to be part of the global financial system, and at the moment they are doing their best to stay away...thank Obama for that one.i want to see more riots the Iranian people want economic reform and they want it now. Unfortunately they are stuck with the current President for four years. In answer to your question I have no idea, I am hoping the majlis are calling the shots and there Plan to remove four zeros is on the table. We know they want to trade in their own currency and their accounting records are in the euro and they have been trading in the euro for awhile so its a wait and see. As I am on another site, I will post when I can and onky thengood stuff but will check in daily. As for this investment I am in it til the end regardless of the outcome. They want a stronger rial and so do I!

[screwball]

23 hours ago, gregp said:

 

Good to see you posting Screwball! Dubai was sounding so good!

Still is good...still part of the plan will travel to all ends of the earth if I have too..

[screwball]

Amendments to their CTF law is a biggy they need this to be part of the global financial system and FATF have been pushing for years but they need to walk the walk as trump will be watching. I was told by Karen Hudes (world bank) before she was world bank in email that Iran is good to go and this was several years ago, what’s interesting is I seen a photo months ago taken of trump at camp David posted by a chap called “Q” and sitting that the table was Karen. Interesting why would she be there for Iran, Iraq or both?