Thursday, September 16, 2010

Sanctions on Iran and Its Effects (Part II)

By Amir Taheri

Further on the effects of sanctions on Iran and Nader's recent post here are some further thoughts. On the subject of banking and its difficulties,
China will pick up where other banks are not comfortable issuing L/C for oil export. Alternatively, Turkey's prime minister spoke of Iran-Turkey trade today and added how he is encourging Turkish financial instituations to start doing what Dubai banks were/are doing to facilate Iran's trade with world. On the subject of oil tankers unwillingness to dock at Iranian ports, Iran currently has the fourth largest tanker company in the world, NITC. This firm can easily pick up if there is a need for it. Its capacity is such that 60% is devoted to international non-Iran locations and has recently signed deals to purchase further VLCC tankers to increase its capacity. As most of Irans non-oil exports are destined for freindly states, impact of sanctions on these export markets are mitigated. Watch for Iranian trade delegations shutteling to Asian, Latin American, and Africian states in the months to come. Key will be opening of new local Iranian banks in export target countries to by-pass sanctions focusing on the trade financing.


Anonymous said...


Anonymous said...

As Turkey becomes more and more hostile to the west, could it be coming together? Turkey aka Gomer will form an alliance with Iran aka Persia who in turn will form an alliance with Russia, Libya and several other Middle Eastern and Central Asian countries that will lead to what bible scholars describe as the War of Gog and Magog. Getting interesting.

Anonymous said...

Original Article

30 Billion $ trade volume per year. Iran is for Turks the gateway to Asia.
That is onlyvolume between Iran-Tuekey, not mentioned between ran- China, India, Russia,...

you can say good bye to sanctions.
The US/EU donot dominate the world Trade anymore.

Anonymous said...

It's perfectly natural that neighbouring countries should maximise trade, political, military relations. I'd ask 'what took you so long?'.

On another note, there's much for Arabs/Iranians/Muslims to learn from Turky's democratic system (of course they should disregard the imposed secularism and military coups of the past).

- Zaki

Anonymous said...

sanctions only raise the prices for Iran 10%

certain countries buy the products and resell them to Iran

USA wanted to curb everyone and now it is selling all through others to Iran

Gifted one said...

good post. any country trying to isolate iran is in for a rude awakening. The American, and various international efforts, to do so are mere public relations exercises. The west resorts to the same devices and threats, but as the old saying goes, "Empty barrels make the most noise". How can they hope to marginalise Iran when they couldn't succeed in isolating Syria? It beggars belief.

Technocrat said...

The Central Bank of Iran (CBI) has agreed to open accounts with two South Korean government banks to avoid disruption in Tehran-Seoul trade despite anti-Iran sanctions.