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Iran to Ditch US Dollar in Financial Reporting: CBI Chief 

News ID: 1315003 Service: Politics 
 February, 01, 2017 - 14:40 
سیف

TEHRAN (Tasnim) – Governor of Central Bank of Iran (CBI) Valiollah Seif announced that the country will no longer use the American currency in its official statements. 

Tehran is seeking to replace the dollar with a new common foreign currency or use a basket of currencies in all official financial and foreign exchange reports, Seif said.

He further emphasized that the move would take effect from the start of the new fiscal year on March 21, 2017, the media reports said. 

Speaking to Tasnim, the top banking official said Iran’s oil export revenues are deposited into the country’s bank accounts in foreign countries and used for imports.

“Now, we are using 100 percent of the revenues from oil exports,” the CBI chief noted.

Replacing the US dollar with other currencies is something many other countries have been after as well.

In January 2014, the World Bank's former chief economist called for an initiative for replacing the US dollar with a single global super-currency, saying it will create a more stable global financial system.

"The dominance of the greenback is the root cause of global financial and economic crises," Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. "The solution to this is to replace the national currency with a global currency."

 

this one one slipped through the cracks...

Edited by screwball
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54 minutes ago, sandfly said:

Sb the time is coming closer every day 

Counting down the days allowing for being late by a week or so...but then they could go early..

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On 2/1/2017 at 2:04 AM, screwball said:

Goood video or bad? What was it about?

Brother Screwball, Adam now had posted the link in an open forum - check it out and get ready to have the goosebumps risen on the back of your neck!! :blink:

On 2/1/2017 at 3:21 AM, screwball said:

First five rounds are on me....:cheesehead:

I can't guarantee if I can cover drinks by the sixth round, but you can darn well bet I'll strive by the eight one!! Cheers and Keeping the faith!! :cheesehead::praying:

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1 hour ago, Freedomwish said:

Brother Screwball, Adam now had posted the link in an open forum - check it out and get ready to have the goosebumps risen on the back of your neck!! :blink:

I can't guarantee if I can cover drinks by the sixth round, but you can darn well bet I'll strive by the eight one!! Cheers and Keeping the faith!! :cheesehead::praying:

Is the interview with trump and Fox News...?

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Iran sees oil refining megadeals with Asians soon

Iran sees oil refining megadeals with Asians soon

Iran expects to sign its biggest oil refining contracts worth $8.6 billion with a number of Japanese, Chinese and South Korean companies this month or later, an official said on Wednesday.

The biggest deal is reserved for Japan's Marubeni, Chiyoda and Mitsui companies to upgrade Isfahan refinery, Deputy Oil Minister Abbas Kazemi told reporters in Tehran, Press TV reported.

"Negotiations have been held with the three companies and the deal for this massive refining project worth $3.6 billion is expected to be finalized soon," he said.

Another $2-billion contract is about to be signed with South Korea's Daelim to boost oil processing capacity at Isfahan refinery, Kazemi added.

However, the most imminent contract, valued at $3 billion, is expected to be concluded within the next couple of weeks with the Chinese to develop and improve the quality of Abadan refinery.

Kazemi predicted the formal implementation of the project beginning in the current Iranian month, which started on January 21, with the participation of energy officials from the two countries as well as senior directors of China's SINOPEC company.

The scheme is planned to cut furnace oil production at the plant to about 20 percent from the current 40 percent, the official said.

China has opened $1.3-billion credit line to financer the plan, he said, adding another $1.7 billion is expected to be opened in the spring.

Iran plans to sign contracts worth $14 billion to fix and upgrade the quality of Tehran, Bandar Abbas, Isfahan, Tabriz and Abadan refineries, said Kazemi who is also managing director of National Iranian Oil Refining and Distribution Company.

 

major trading partners, how do I say currency pairs!

Edited by screwball

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Iran confirms missile launch, says it doesn’t breach UN resolution 

February 1, 2017
 
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TEHRAN – Iran confirmed on Wednesday it had carried out a fresh missile launch, saying the firing fits into its conventional defense doctrine and does not contravene the UN Security Council resolution that endorsed a 2015 nuclear deal with world powers. 

“The recent test was in line with our [defense] program,” Defense Minister Hossein Dehqan was quoted as saying. 

The comments come as the first formal reaction to a Fox News report that quoted two U.S. officials as having said that Iran had test-fired a failed ballistic medium-range missile on Sunday. 

“Our missile tests do not conflict with BARJAM (Persian acronym for the nuclear deal) or (UNSC) Resolution 2231,” the minister said, adding Tehran will press ahead with its missile program. 

The nuclear deal between Iran and six world powers resolved the nuclear dispute by removing sanctions against the country in exchange for it rolling back its nuclear program. 

Days after the signing of the Joint Comprehensive Plan of Action, the official name for the nuclear accord, the Security Council ratified Resolution 2231 to endorse the deal. 

It calls upon Iran “not to undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons, including launches using such ballistic missile technology,” until eight years after the implementation of the deal. 

Washington called on the Security Council to look into the missile launch, arguing that it violated the resolution. 

The UN Security Council met on Tuesday at the Trump administration's request after U.S. ambassador to international body called the test “unacceptable.”

The emergency meeting, however, did not come up with any specific decision, recommending it be studied at committee level, Reuters quoted British UN ambassador Matthew Rycroft as saying.

The missile launch comes as the first one since President Trump took office. 

During the campaign, Trump often condemned the nuclear deal and at times conflated Iran’s nuclear program and its missile program.

Condemning the launch on Monday, Senator Bob Corker, chairman of the U.S. Senate Foreign Relations Committee, said he would work with other lawmakers and the Trump administration to hold Iran accountable. 

In a joint press conference with his French opposite number Jean-Marc Ayrault on Tuesday in Tehran, Iranian Foreign Minister Mohammad Javad Zarif hoped Tehran’s defensive program would not act as a “pretext” for the new U.S. administration. 

Neither confirming nor denying the missile test report, Zarif underscored that his country’s missiles are conventional and not capable of carrying warheads. 

Iran uses its “conventional” missiles to “legitimately” defend its territory, the top Iranian diplomat maintained. 

Also, Ali Shamkhani, secretary of the powerful Supreme National Security Council and former defense minister, ruled out any international effort to limit the country’s missile capability. 

“We will not take permission from any country or international organization to boost our conventional defense capability,” he said during a meeting with Armenian Defense Minister Vigen Sargsyan on Wednesday.


Reactions from Europe

The missile launch has been met with mixed reactions from Europe. 

In the joint press meeting with Zarif in Tehran, French Foreign Minister Ayrault said he had voiced concerns over the testing, seeing it in defiance of Resolution 2231. 

London also expressed concerns. 

"On Iran, there was very significant concern about the ballistic missile launch which has now been confirmed," Reuters quoted British UN ambassador Matthew Rycroft as saying. 

Similarly, Germany saw the test “case for serious concern” and “incompatible with UN Security Council resolution 2231,” its foreign ministry said. 

Also, EU foreign policy spokeswoman Nabila Massrali said a ballistic missile test would not violate the nuclear deal with world powers, but added that it was "inconsistent" with Resolution 2231.

However, "Whether it constitutes a violation is for the Security Council to determine," she said.

In an exception to the pattern, Russia rejected that the ballistic missile test violated the resolution. 

“Such actions, if they took place, do not breach the resolution,” Russian Deputy Foreign Minister Sergei Ryabkov told Interfax news agency, saying demands for UN talks were aimed at “heating up the situation”.

China has not commented on the issue yet. 

Iran missile program, and unjustified concerns 

Over the past few years, Iran’s missile program has been time and again discussed by certain Western countries and their Middle East allies. 

Opponents cite what they call “concerns” over the arcana of the program, and have attempted to carve out a provocative, destabilizing image of Iran via their propaganda machines.

Zalmay Khalilzad, former U.S. Ambassador to Afghanistan, Iraq, and the United Nations, asserts that Iran’s missile program should “rank among the highest priorities of U.S. national security concerns.” 

He goes on to give Iran’s increasing missile capability a strategic direction, and looks at it as a key element of the country’s long-term ambitions for “regional hegemony.”

Iran, on the other hand, has rejected the views, saying its missile program is purely defensive as part of a “strategic policy.” 

"We will pursue any measure to boost our defense might and this is a strategic policy," President Hassan Rouhani, a moderate, said in March 2016.

"But at the same time we should remain vigilant so that Iran's enemies do not find any excuse to take advantage of the situation,” he further said. 

In comments posted on his twitter on March 15, 2016, Zarif said if Iran had missiles, former Iraqi dictator Saddam Hussein may not have invaded the nascent Islamic Republic in 1980.

“If we had missiles during Saddam’s war on us, they may have discouraged or at least reduced his indiscriminate attacks on our civilians.” 

“Iran hasn't attacked any country in 250 years. But when Saddam rained missiles on us and gassed our people for 8 yrs., no one helped us.” 

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Iran begins drilling 20 new wells in joint oilfield with Iraq

نفت گاز
News ID: 3895038 - Thu 2 February 2017 - 14:51
TEHRAN, Feb. 02 (MNA) – An official announced Thursday the start of a project on drilling 20 new development wells in Azadegan oilfield as the largest joint oilfield of Iran and Iraq.  

Saeed Nazari, project manager of South Azadegan drilling at National Iranian Drilling Company (NIDC), said three oil rigs have been situated at the site to start the operation of drilling 20 development wells at South Azadegan oilfield.

According to him, the drilling process for one well has already begun, and with the installment of two other oil rigs, the drilling of the second and third well will soon commence.

Nazari maintained that the execution of the project has been scheduled for 24 months, adding “by increasing the number of oil rigs to six, we will further expedite the drilling process.”

“Given the importance of environmental issues, the drilling machines used for this operation are all up-to-date and equipped with fluid treatment system and solid waste management,” he added.

At the present, drilling of 40 other wells at South Azadegan oilfield have been under operation by National Iranian Drilling Company (NIDC). With over 91 per cent progress, the project is expected to be completed by mid-March this year. 

MS/3894718

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1 hour ago, Freedomwish said:

Brother Screwball, Adam now had posted the link in an open forum - check it out and get ready to have the goosebumps risen on the back of your neck!! :blink:

I can't guarantee if I can cover drinks by the sixth round, but you can darn well bet I'll strive by the eight one!! Cheers and Keeping the faith!! :cheesehead::praying:

where is the video? 

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3 hours ago, screwball said:

Is the interview with trump and Fox News...?

 

2 hours ago, markb57 said:

where is the video? 

If the site hasn't archived it yet, see if you can click on this link: http://www.kimclement.com/watch.php?id=012817Den1500

Move forward to the 35 minute to 1:01 minute mark - just keep an open mind, and be ready to get the chills.:blink:

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Well Kim the prophet talked about 20,000 which is the Dow hitting 20,000, he talked about California or Colorado coming out of a drought, he talked about a new president this is back in 2012-2013 and the new president is gold, which trump is all about gold, he talked about dinar...he then mentioned a major shift in systems in the Middle East and Iran extending the hand to Iraq, he mentioned the Dinar but was big on both Iran and Iraq and major shift in systems, which I take it to mean financial system. He talked about the debt, which is funny because ink this week I watched a video about trump and us debt and how he is going to tackle it.i find interesting the trump also said during the second presidential debate mentioned Iran and said he has a feeling they will be a powerhouse...interesting time ahead..

 

 

 

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Time ripe for Europe's business in Iran in post-JCPOA era

Copenhagen, Feb 2, IRNA - Very good conditions have been prepared in the post-JCPOA era for European countries to be present and compete in Iranian economic field.

 
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Head of Tehran Chamber of Commerce, Industries, Mines and Agriculture (TCCIM), Masoud Khansari, made the remarks in an address to the Iran- Denmark trade session on Thursday.

Khansari said sound implementation of the Joint Comprehensive Plan of Action (JCPOA) has prepared the ground for the European countries play an active role in Iran’s economy.

Grounds are now well prepared for a sound competition in the Iranian marketplace and the role of European countries could be of high importance, he said. 

A Memorandum of Understanding (MoU), signed between the TCCIM and Danish Industries Confederation last year, prepared the ground for a broad-based economic cooperation between the two countries. 

Economic relations between Iran and Denmark date as back as about one century ago, he said, adding that the first pasteurized milk factory was established in Iran by Denmark, while they have also been playing active role in other industries such as pharmaceuticals as well as cement, he said. 

Many Iranian nationals immigrated to Europe in the past and gained high- ranking social and economic positions, he said. 

After implementation of the JCPOA, Iran turned into a new economic power, welcoming active presence of the world countries, the European ones in particular, he said.

Industrial infrastructures, suitable geographical condition, geographical proximity with seven countries surrounded with arid regions and as secure Middle East country have made it a suitable place for foreign investors, he said. 

With a population of 80 million, Iran can provide access to some 400 populations in the region for economic purposes, Khansari said.

Iran ranks first in the world in terms of gas reserves and is also among the countries rich in oil as there are more than 50 minerals in the country and they account for suitable ground for broadening cooperation with other countries, he said. 

Iran requires some dlrs 50 billion foreign investment to hit its target of six percent economic growth this year, he said.

Over 200 economic delegations visited Iran last year and many of the deals, signed during the visits, for example the deals signed with with the French, Italian and Austrian companies, are now in force, he said. 

Iran continued cooperation with such countries as India, China and South Korea, which did not stop economic cooperation with the country during economic sanctions, he said.

Banking problems have not been resolved yet and it is expected that Denmark will take initiative to remove the barriers, he said. 

A 30-member Iranian delegation, headed by the TCCIM head, Masoud Khansari, arrived in the Czech Republic and Denmark to confer with the countries' businessmen and industrialists, he said. 

The Iranian economic delegation will leave Copenhagen for Tehran on Friday night.

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7 hours ago, screwball said:

Well Kim the prophet talked about 20,000 which is the Dow hitting 20,000, he talked about California or Colorado coming out of a drought, he talked about a new president this is back in 2012-2013 and the new president is gold, which trump is all about gold, he talked about dinar...he then mentioned a major shift in systems in the Middle East and Iran extending the hand to Iraq, he mentioned the Dinar but was big on both Iran and Iraq and major shift in systems, which I take it to mean financial system. He talked about the debt, which is funny because ink this week I watched a video about trump and us debt and how he is going to tackle it.i find interesting the trump also said during the second presidential debate mentioned Iran and said he has a feeling they will be a powerhouse...interesting time ahead..

 

 

 

Before this,  was there anything he else predicted that came true?  

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On 2/2/2017 at 0:54 AM, screwball said:

Adirective has been issued for the current fiscal year (started March 20, 2016) to extend the penalty waiver for loans fewer than 1 billion rials ($31,400) for the coming fiscal year too, announced the spokesman of Majlis Joint Commission, reports Banker. According to the measure, all fines and penalties pertaining to the interest on loans below 1 billion rials ($31,400) will be forgiven for debtors who return the principal amount of their loans to banks in the next fiscal year.”The interest on loans will be reimbursed to lenders from the revaluation of foreign exchange resources of the Central Bank of Iran and the fines will be forgiven,” Mohammad Mehdi Mofatteh added. “The measure is in line with increasing the lenders’ capital, recapitalizing state-owned banks and settling government debts.” 

Jesus lord........I almost dropped my cheeseburger, I can't believe I missed this one from you Screwball!!!! :blink::blink::blink:

And now Trump's talking about some new sanctions crap due to Iran's whole missile hoopla, I would be amazed if something of a miracle would to come out of all this in the positive light for the Rial.  

Everything's moving so fast, does anyone else feels the same way?  :shrug:

Or am I losing it? :facepalm3:

Should I cut back on the drinking? :cheesehead: Lol :lol:

 

 

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53 minutes ago, Freedomwish said:

Jesus lord........I almost dropped my cheeseburger, I can't believe I missed this one from you Screwball!!!! :blink::blink::blink:

And now Trump's talking about some new sanctions crap due to Iran's whole missile hoopla, I would be amazed if something of a miracle would to come out of all this in the positive light for the Rial.  

Everything's moving so fast, does anyone else feels the same way?  :shrug:

Or am I losing it? :facepalm3:

Should I cut back on the drinking? :cheesehead: Lol :lol:

Freedomwish, Agree.....President DJT is pressuring many countries to up their game in all aspects security, economics, currency manipulation, etc.  We are definitely in a "Good Place" right now at this moment in time IMHO.  

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On 2017-02-02 at 4:08 AM, screwball said:

Traditionally when has Iran posted their rate changes? Anyone know where to find this on the IMF websites?

Spent quite abit of time trying to find an answer for this but was not able to.

  Sorry SB

pp

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