Tuesday, October 30, 2012

Iran Bans Export of Basic Goods

Iran banned the export of around 50 basic goods, including wheat, flour, sugar, red meat, and aluminum and steel ingots to preserve supplies of essential items in the face of tightening Western sanctions. (Mehr News Agency, 30 October)

The ban also includes the re-exportation of goods imported with government-subsidized dollars, a major source of corruption due to multi-layered currency rates. The government provides dollars at a rate of 12,260 rials each to importers of basic goods, and they could turn around and sell them at open market at the rate of around 33,000 rials or re-export them at that rate. 


Anonymous said...

Iran has no control over economic activities of its citizens. It's like a wild west out there.

Anonymous said...

slap half a hundred citizens in prison for engaging in prohibited economic activity and quite a few amateur speculators will be deterred.

Anonymous said...

Regime Bans Breathing,LOL!