Somali Pirates Highjack Iranian Cargo Ship

Somali pirates seized an Iranian cargo ship and its 23-strong crew off the Hoarafush Island in the Indian Ocean. The island is part of the Maldives.

A spokesman for the Maldivian National Defense Force said the authorities were coordinating their response with the navy of the neighboring India. At least 40 vessels and more than 400 hostages were still being held in or just off Somalia at the end of last year.

Source: AFP, 26 March 2012

Shell Unable to Pay for Iranian Oil

Reuters reported today that Royal Dutch Shell is struggling to pay off $1 billion that it owes Iran for crude oil because EU and US sanctions now make it impossible to process payments.

“Shell is working hard to figure out a way to pay NIOC (National Iranian Oil Company). It is very sensitive and very difficult. They want to stay in good terms with Iran while abiding sanctions,” said an informed source to Reuters.

With daily contract volumes of 100,000 barrels, Shell was Iran’s second biggest corporate client behind Turkey’s Tupras. The EU has given European companies like Shell until July 1 to wind down their existing businesses with Iran.

Source: Reuters, 26 March 2012

Monthly Cash Handouts to Increase by 50 Percent

The Iranian government has announced that it will increase the monthly cash handouts to 90 percent of its citizens by more than fifty percent. The new payout will be 730,000 rials per person per month (around $60 in official exchange rate). The handouts are part of the government subsidy removal program and are intended to soften the impacts of the rising inflation and the currency’s falling value. The critics believe the cash handouts are wasteful public spending that has resulted in even higher inflation.

Iran, Afghan and Tajik Presidents Meet in Dushanbe

The presidents of Iran, Tajikistan and Afghanistan have signed agreements on expanding transit routes linking the three countries. Iranian President Mahmoud Ahmadinejad, Afghan President Hamid Karzai and Tajik President Emomali Rahmon met during the fifth trilateral summit in Dushanbe, Tajikistan, on Sunday. They also attended Norouz ceremonies in the Tajik capital.

17 Iranians sanctioned by EU over human rights abuses

"We deplore the continuing increase in executions and the widespread repression of Iranian citizens, including human rights defenders, journalists and members of the opposition."

-- EU Foreign Affairs Chief Catherine Ashton

According to Reuters the European Union has imposed sanctions targeting 17 Iranian officials whom it says play key roles in serious human rights violations.

Among the names on the list are the head of the Iranian judiciary, Sadeq Larijani for signing off death sentences that include stoning, floggings, amputations and the pouring of acid into the eyes of those convicted.

Equipment that can monitor or intercept telecommunications are banned from exportation to Iran.

Khameini's representative to the Revolutionary Guards Ali Saeedi and Ali Mirhedjazi the deputy chief of the Supreme Leaders office have also been sanctioned for alleged responsibility in the violent suppression of opposition protests.

Also targeted was the head of the state broadcasting network Ezzatollah Zarghami for broadcasting "show-trials" as well as Reza Taqipour the minister of information and communication for controlling and censoring the internet.

The rest of those blacklisted include a judge and several prosecutors as well as the interior minister for political affairs for infringing on press freedoms.

The EU has also placed a ban on the export of equipment that could be used to monitor or block telecommunications.

Obama to Meet Turkish Premier on Iran

President Barak Obama and Turkish Prime Minister Recep Tayyip Erdogan are set to hold a “lengthy” meeting in Seoul on Sunday ahead of the Nuclear Security Summit. Turkish daily Hurriyet reported today that Iran will be at the top of the meeting’s agenda. Premier Erdogan will fly to Tehran after the Summit to meet with senior Iranian officials on 28-29 March.

“I expect it to be a comprehensive and lengthy meeting. That’s why it has been fixed not for the sidelines of the summit but a day ahead of it,” an aide to Erdogan said [Hurriyet, 24 March].

Oil Prices Rise As Iran Exports Fall

Oil prices briefly spiked today to the highest level in three weeks following a report that Iranian oil exports dropped significantly this month, falling by 300,000 barrels per day, or 14 percent.

Source: AP, 23 March 2012

Iran Denies Interference in Yemen

Iran’s Deputy Foreign Minister Hossein Amir-Abdollahian has denied Yemen’s accusations that the Islamic Republic is interfering in Yemeni internal affairs. He said that Iran is only supporting “the legitimate demands of the Muslim People of Yemen.”

Yemeni Foreign Minister Abu Bakr al-Qirbi had said on Thursday that Iran is seeking to expand its influence in the region by interfering in Yemen’s internal affairs [Yemen Fox / Press TV, 22 March].

“The Islamic Republic has always in its mind the good of the regional states as well as the collective and native security and stability of the region,” Amir-Abdollahian said.

Iran supports anti-government movements in Yemen and Bahrain while it supports the Syrian government against the anti-government movement in that country.