In an unprecedented move, Swift, a major world-wide communication network, has announced to pull out from Iran’s financial sector on Thursday. Around 30 financial institutions in Iran are going to be affected by the move which is going to take effect on Saturday. Once effective, it could severely hamper Iran’s ability to do international business electronically and isolate it from the global financial world.
The Society for Worldwide Interbank Financial Systems, in short, Swift has acknowledged that they are following the orders of the European Union (EU). Withdrawing communication services is a part of economic sanctions against Iran that European Union want to impose through Swift.
The Society for Worldwide Interbank Financial Systems is a Belgium-based consortium, governed by the European Union (EU) law. Iran regularly uses Swift to repatriate its huge proceeds from oil as well as other petroleum-based products.
As of now there is no reaction from Iranian authority. But they have been highly critical of western powers, mainly the United States and Europe, which they see as bullies, for imposing economic sanctions against oil-rich Iran. On the other hand, Europe and the United States are using the sanctions to pressurize Iran to stop its uranium-enrichment program. Enriched Uranium is useful for building nuclear weapons as well as for treatment in cancer therapy.
Showing posts with label Iran. Show all posts
Showing posts with label Iran. Show all posts
Thursday, March 15, 2012
Thursday, March 8, 2012
Iran is demanded unfettered access for nuclear inspection
The five permanent members of the UNSC (United Nations Security Council) including the United States, Britain, France, China and Russia along with Germany have called on Iran on Thursday to allow unrestricted access to all its nuclear sites, especially at Parchin. The latest development took place a day after the International Atomic Energy Agency (IAEA) chief, Yukiya Amano, expressed doubts about Iran’s intention for full nuke inspection. The international nuclear experts suspect that the military base at Parchin contains a testing chamber for atomic weapons.
The latest joint statement made by the six nations is aimed at bringing Iran to the negotiation table over its nuclear program. It is also meant to send out the signal that Iran has lost the support of two of its key allies, Russia and China, after the way it has carried on with producing uranium enrichment in spite of repeated appeals for its immediate suspension.
The statement also mentioned the last two visits of IAEA inspectors to Iran, in January and February this year, when they were denied access to the “relevant sites,” despite Iran’s assurance.
The last negotiation fell through more than a year ago and brought a series of economic sanctions on Iran, thus raising the global oil price. Iran has maintained that its nuclear program is meant for civilian and peaceful purposes and not for building nuclear weapons.
The latest joint statement made by the six nations is aimed at bringing Iran to the negotiation table over its nuclear program. It is also meant to send out the signal that Iran has lost the support of two of its key allies, Russia and China, after the way it has carried on with producing uranium enrichment in spite of repeated appeals for its immediate suspension.
The statement also mentioned the last two visits of IAEA inspectors to Iran, in January and February this year, when they were denied access to the “relevant sites,” despite Iran’s assurance.
The last negotiation fell through more than a year ago and brought a series of economic sanctions on Iran, thus raising the global oil price. Iran has maintained that its nuclear program is meant for civilian and peaceful purposes and not for building nuclear weapons.
IAEA chief doubts full nuke disclosure from Iran
On Wednesday, The chief of International Atomic Energy Agency (IAEA), Yukiya Amano, has cast doubt on Iran’s intention to disclose all its nuclear facilities for international monitoring. Incidentally, the day was after Iran had signaled letting international nuclear experts visit its key military site.
In a latest CNN interview, The IAEA chief has revealed that Iran has declared several of its sites that have been used for peaceful purposes. But there could be other facility (s), which IAEA chief believes, that Iran has not disclosed yet and could be used for building nuclear weapons. It is suspected that Iran would try to clean up its facility at Parchin before it handovers it for IAEA inspection.
Reports have confirmed that the monthly production of enriched uranium has tripled in Iran. The reason cited by Iran for high enriched-uranium production is that, it is helpful for cancer therapy and other civilian purposes. Recent satellite images is said to have captured trucks and other heavy vehicles at Parchin.
It has also been confirmed on Wednesday that the five permanent members of the United Nations Security Council (UNSC) along with Germany are going to present a joint statement regarding Iran. The statement that is going to be delivered to the IAEA on Thursday would highlight concern about Iran’s nuclear activities, especially the uranium-enrichment program at Natanz and Fordow.
In a latest CNN interview, The IAEA chief has revealed that Iran has declared several of its sites that have been used for peaceful purposes. But there could be other facility (s), which IAEA chief believes, that Iran has not disclosed yet and could be used for building nuclear weapons. It is suspected that Iran would try to clean up its facility at Parchin before it handovers it for IAEA inspection.
Reports have confirmed that the monthly production of enriched uranium has tripled in Iran. The reason cited by Iran for high enriched-uranium production is that, it is helpful for cancer therapy and other civilian purposes. Recent satellite images is said to have captured trucks and other heavy vehicles at Parchin.
It has also been confirmed on Wednesday that the five permanent members of the United Nations Security Council (UNSC) along with Germany are going to present a joint statement regarding Iran. The statement that is going to be delivered to the IAEA on Thursday would highlight concern about Iran’s nuclear activities, especially the uranium-enrichment program at Natanz and Fordow.
Tuesday, March 6, 2012
Iran to discuss its nuclear program with global powers
After more than a year of diplomatic standoff, the six-nation global powers are to resume dialogue with Iran on the highly contentious Iran nuclear program. The announcement came from the Chief of foreign affairs of EU, Catherine Ashton, on Tuesday who is currently acting for the six global powers – the United States, Britain, France, Germany, China and Russia.
The offer for negotiations was made by Iran last month amid tremendous international pressure to halt its nuclear program. On Tuesday, Iran has made another peace offer. For the first time, it has shown willingness to give access to International Atomic Energy Agency (IAEA) nuclear experts to visit its main nuclear complex. By making such an offer, it is believed, Iran is trying to send out the message that its nuclear program is for peaceful purposes only, that it has nothing to hide.
The United States together with the neighboring Israel have been alleging Iran of using its nuclear program for building nuclear weapons. While, Israel has openly declared its intention to destroy Iran’s nuclear facility, the United States has shown marked restrain from making any such comments till now. President Obama of the United States has pointed out “beating the drums of war” is of no use. It has to justify the costs and merits of military action.
In fact, in today’s world, war should not be an option. Whichever side wins, it is colossal loss to mankind. War must not be justified under any pretext.
The offer for negotiations was made by Iran last month amid tremendous international pressure to halt its nuclear program. On Tuesday, Iran has made another peace offer. For the first time, it has shown willingness to give access to International Atomic Energy Agency (IAEA) nuclear experts to visit its main nuclear complex. By making such an offer, it is believed, Iran is trying to send out the message that its nuclear program is for peaceful purposes only, that it has nothing to hide.
The United States together with the neighboring Israel have been alleging Iran of using its nuclear program for building nuclear weapons. While, Israel has openly declared its intention to destroy Iran’s nuclear facility, the United States has shown marked restrain from making any such comments till now. President Obama of the United States has pointed out “beating the drums of war” is of no use. It has to justify the costs and merits of military action.
In fact, in today’s world, war should not be an option. Whichever side wins, it is colossal loss to mankind. War must not be justified under any pretext.
Tuesday, February 21, 2012
Iran denies UN inspection to its site
In a latest report on Tuesday, the International nuclear inspectors sent to collect latest status about Iran’s nuclear program have left the country without any success. The IAEA team (International Atomic Energy agency), reportedly have spent two days trying to persuade authorities in Tehran but failed as they were denied entry to its military base at Parchin. This is the second time Iran has denied UN nuclear inspection. The agency would announce its latest report on Iran’s nuclear program in the coming week.
West suspects Iran of using the site for building nuclear weapons. On its part, Iran has repeatedly claimed that its nuclear programs are meant for only civilian purposes. Iran has justified its present stand stating that in the past it has allowed access to its nuclear-related site. But since Parchin was its military base, it is off limit to outsiders.
Iran’s denial to International inspection is likely to escalate tension in the region. The tension is further heightened by the fact that Iran has also threatened to strike first in case of possible external attack from its enemies to protect its national interest.
West suspects Iran of using the site for building nuclear weapons. On its part, Iran has repeatedly claimed that its nuclear programs are meant for only civilian purposes. Iran has justified its present stand stating that in the past it has allowed access to its nuclear-related site. But since Parchin was its military base, it is off limit to outsiders.
Iran’s denial to International inspection is likely to escalate tension in the region. The tension is further heightened by the fact that Iran has also threatened to strike first in case of possible external attack from its enemies to protect its national interest.
Tuesday, January 24, 2012
Is global recession imminent?
In the midst of market uncertainty coupled with sluggish economic growth, few had expected robust beginning to this New Year. But few had actually anticipated or openly admitted that attempts to bring global economy back on track could be numbered. That Eurozone has approached ‘a perilous new phase,’ acknowledged by none other than the International Monetary Fund (IMF) on Tuesday has certainly given it credibility. But hasn’t the threat of global recession been on the cards for some time now?
The bleak prediction by International Monetary Fund is based on two prevailing situations – high financing cost borne by euro zone nations and European banks facing severe credit crunch. Experts are of the opinion that each of the two conditions could have triggering effect on the other and may lead to further economic contractions.
Factors outside Eurozone could also have a large impact on global economy. Important among them are hike in global oil price due to sanctions on Iran, investor fear in the prevailing market scenario or possibility of spill-over effect of European debt crisis on other big economies like the United States as well as emerging economies like Japan.
On its quarterly updates, IMF has scaled down its previous global growth estimates of the year 2012 from 4 percent to 3.25 percent. In her latest speech, Managing Director of IMF, Christine Lagarde, has called on all the nations of the world to help bolster the bail-out fund and combat the threat of global recession. Currently, the fund is seeking $500 billion in addition to its present reserve.
The bleak prediction by International Monetary Fund is based on two prevailing situations – high financing cost borne by euro zone nations and European banks facing severe credit crunch. Experts are of the opinion that each of the two conditions could have triggering effect on the other and may lead to further economic contractions.
Factors outside Eurozone could also have a large impact on global economy. Important among them are hike in global oil price due to sanctions on Iran, investor fear in the prevailing market scenario or possibility of spill-over effect of European debt crisis on other big economies like the United States as well as emerging economies like Japan.
On its quarterly updates, IMF has scaled down its previous global growth estimates of the year 2012 from 4 percent to 3.25 percent. In her latest speech, Managing Director of IMF, Christine Lagarde, has called on all the nations of the world to help bolster the bail-out fund and combat the threat of global recession. Currently, the fund is seeking $500 billion in addition to its present reserve.
Sunday, January 8, 2012
President of Iran given warm welcome in Venezuela
Mahmoud Ahmadinejad, the Iranian President, has kick started his five days, four-nation Latin American tour on Sunday with Venezuela. The President of Iran and his entourage have reached the Venezuelan capital, Caracas, at around 6:30 pm ET. At the Simon Bolivar International airport, Caracas, Ahmadinejad is said to be given a red-carpet welcome by the Vice President of Venezuela and other officials. This is his fifth state visit.
Iran and Venezuela are counted among the top exporters of crude oil. They also have more than 250 trade agreements between them, apart from the fact that Mahmoud Ahmadinejad and Hugo Chavez (President of Venezuela) are long-time allies.
Mahmoud Ahmadinejad’s current visit to Latin American countries comes as a no surprise to experts. Currently, Iran is under triple threats – growing (economic) unrest at home, increasing isolation from the world and intense international threat to pull out from nuclear program or face more economic sanctions. In such a scenario, it is opined that Iran has little choice but to ramp up economic, military and political support from nations having similar political views as Iran.
But not everybody is happy in Venezuela about Mahmoud Ahmadinejad’s state visit. Diego Arria, an upcoming political leader in the opposition, is quite critical and terms the trip as a “provocation” on Iran’s part and embarrassment for Venezuela.
Iran and Venezuela are counted among the top exporters of crude oil. They also have more than 250 trade agreements between them, apart from the fact that Mahmoud Ahmadinejad and Hugo Chavez (President of Venezuela) are long-time allies.
Mahmoud Ahmadinejad’s current visit to Latin American countries comes as a no surprise to experts. Currently, Iran is under triple threats – growing (economic) unrest at home, increasing isolation from the world and intense international threat to pull out from nuclear program or face more economic sanctions. In such a scenario, it is opined that Iran has little choice but to ramp up economic, military and political support from nations having similar political views as Iran.
But not everybody is happy in Venezuela about Mahmoud Ahmadinejad’s state visit. Diego Arria, an upcoming political leader in the opposition, is quite critical and terms the trip as a “provocation” on Iran’s part and embarrassment for Venezuela.
Friday, January 6, 2012
Iran President Mahmoud Ahmadinejad to visit Latin America
Mahmoud Ahmadinejad, the head of the state of Iran, is scheduled for a four-nation tour of Latin America, beginning Sunday. His first stop would be Caracas (Venezuela) where he is set to meet his long-time friend and ally President Hugo Chavez. The rest of his itinerary includes Cuba, Ecuador and Nicaragua. The tour is seen to aim at obtaining outside support and economic ties for Iran which is under intense international pressure to stop its nuclear program.
On his five day tour, the Iranian President may also visit Guatemala looking for new economic partnerships. The President is most likely to be accompanied by his Energy Minister, Majid Namjoo. He has claimed that the tour is for promoting bilateral trade and finding new trading partners in Latin American nations.
Interestingly, Ahmadinejad’s tour does not include Brazil, which is a major economic powerhouse in the region and with whom Iran has strong trading ties. Neither does it include other big Latin American countries like Argentina, Mexico or Columbia where the United States enjoys support.
The United States opines that the upcoming tour is unlikely to generate interest in Latin American countries against the backdrop of sanctions and Iran’s nuclear program.
On his five day tour, the Iranian President may also visit Guatemala looking for new economic partnerships. The President is most likely to be accompanied by his Energy Minister, Majid Namjoo. He has claimed that the tour is for promoting bilateral trade and finding new trading partners in Latin American nations.
Interestingly, Ahmadinejad’s tour does not include Brazil, which is a major economic powerhouse in the region and with whom Iran has strong trading ties. Neither does it include other big Latin American countries like Argentina, Mexico or Columbia where the United States enjoys support.
The United States opines that the upcoming tour is unlikely to generate interest in Latin American countries against the backdrop of sanctions and Iran’s nuclear program.
Thursday, January 5, 2012
Has the proposed oil ban by EU unsettled Iran?
In spite of the continuing war of words and defiant stand, has the proposed crude oil boycott by the European Union (EU) succeeded in softening Iran’s stand? Why else would Iran go on record on Thursday saying that the latest economic sanctions by the United States and the threat posed by the EU to stop nuclear program or face ban on oil export are equivalent to “an economic war”? Why would Iran waste time complaining when it could carry out its threat?
Again, “Iran threatening to take action against United States,” if an American aircraft carrier that left for Gulf of Oman via the Strait of Hormuz were to return to Persian Gulf – made news headline on Tuesday. Though there has been no report of United States making any changes to its military deployments at the Strait, no fresh tension has been reported in the Persian Gulf region till Thursday. What does it say?
Iran already has non-existent trade relationship with U.S. Its relationship with Britain is at an all time low. Currently 17 percent of Iran’s crude oil business comes from EU, which contributes a significant amount to Iran’s coffer. Under these circumstances, can Iran really afford fresh economic sanctions from EU? Is its economy in a position to continue with the nuclear program and suffer a new setback? Facts say otherwise, but only time would tell.
Again, “Iran threatening to take action against United States,” if an American aircraft carrier that left for Gulf of Oman via the Strait of Hormuz were to return to Persian Gulf – made news headline on Tuesday. Though there has been no report of United States making any changes to its military deployments at the Strait, no fresh tension has been reported in the Persian Gulf region till Thursday. What does it say?
Iran already has non-existent trade relationship with U.S. Its relationship with Britain is at an all time low. Currently 17 percent of Iran’s crude oil business comes from EU, which contributes a significant amount to Iran’s coffer. Under these circumstances, can Iran really afford fresh economic sanctions from EU? Is its economy in a position to continue with the nuclear program and suffer a new setback? Facts say otherwise, but only time would tell.
Wednesday, January 4, 2012
Prospect of oil export ban looms large on Iran
In an attempt to put further pressure on Iran, European Union is mulling over taking the toughest stand so far – impose a ban on Iranian crude oil import. The latest development has taken place on Wednesday when leaders of European nations joined forces to stop Iran from continuing with its nuclear program. A final decision is likely to be reached on January 30.
Till now, Iran has maintained that its nuclear program is purely aimed for civilian purposes. But the United States, now the European Union and most of the world see it otherwise. They want Iran to immediately stop its uranium enrichment. In the meantime, European Union nations who depend on Iran for crude oil would have to find alternative solutions.
It is reported that export of crude oil make up more than 50 percent of Iran’s revenue, out of which Europe alone contributes roughly 17%. If European nations go ahead with their decision to stop oil import from Iran, it would have to hunt for new buyers in Asia to make up for trade in Europe. That too looks like Iran would probably have to settle for a price lower than what it is getting from Europe. Currently, Iran has no trading relation with the United States. Even the United Kingdom and Canada have recently imposed sanctions on Iran. Seeing from here, the future surely looks quite bleak for Iran.
Till now, Iran has maintained that its nuclear program is purely aimed for civilian purposes. But the United States, now the European Union and most of the world see it otherwise. They want Iran to immediately stop its uranium enrichment. In the meantime, European Union nations who depend on Iran for crude oil would have to find alternative solutions.
It is reported that export of crude oil make up more than 50 percent of Iran’s revenue, out of which Europe alone contributes roughly 17%. If European nations go ahead with their decision to stop oil import from Iran, it would have to hunt for new buyers in Asia to make up for trade in Europe. That too looks like Iran would probably have to settle for a price lower than what it is getting from Europe. Currently, Iran has no trading relation with the United States. Even the United Kingdom and Canada have recently imposed sanctions on Iran. Seeing from here, the future surely looks quite bleak for Iran.
Tuesday, January 3, 2012
Iran locks horn with US over withdrawing Navy fleets
Only a day after Iran’s successful testing of its nuclear fuel rods, fresh tension brewed in the Gulf as Iran warns United States to pull out its Navy fleet from the Persian Gulf or face consequences. The veiled threat came on Tuesday from Iran’s military commander Major General Ataollah Salehi after the conclusion of Iran's naval parade near the Strait of Hormuz. Salehi was referring to a U.S. Aircraft carrier which had been moved last week from the Persian Gulf to the Gulf of Oman on account of its naval drill.
The United States has refused to budge from the Strait of Hormuz citing its commitment towards the safety of international maritime traffic. The Strait of Hormuz serves as the world’s largest and busiest waterway for international oil trade. If this strategic route is closed, this would have severe negative impact on global oil supply and shoot up oil prices throughout the world.
Isolation from the global community and four economic sanctions by the United Nations have already taken a heavy toll on Iran’s economy. Tuesday saw Iran’s currency, rial, hitting a record low as a new round of international sanction became a possibility. At one time, news came in that the government of Iran may stop trading relations with UAE (the United Arab Emirates) for aligning with the United States, which was later denied by the government of Iran. The question is could Iran ever be able to end the deadlock with the world community or is it destined to remain isolated from the rest of the world?
The United States has refused to budge from the Strait of Hormuz citing its commitment towards the safety of international maritime traffic. The Strait of Hormuz serves as the world’s largest and busiest waterway for international oil trade. If this strategic route is closed, this would have severe negative impact on global oil supply and shoot up oil prices throughout the world.
Isolation from the global community and four economic sanctions by the United Nations have already taken a heavy toll on Iran’s economy. Tuesday saw Iran’s currency, rial, hitting a record low as a new round of international sanction became a possibility. At one time, news came in that the government of Iran may stop trading relations with UAE (the United Arab Emirates) for aligning with the United States, which was later denied by the government of Iran. The question is could Iran ever be able to end the deadlock with the world community or is it destined to remain isolated from the rest of the world?
Sunday, January 1, 2012
Iran builds indigenous nuclear fuel rods ignoring UN sanctions
Iranian scientists claimed a major feat on Sunday as reports came out that they have tested their first ever indigenous nuclear fuel rods successfully. If it is true, they have openly defied the United Nations’ sanction that restricts Iran from sourcing fuel rods from overseas companies. The sanction was imposed in order to restrict the country’s atomic work and to prevent production of atomic weapons.
A year ago, Iran had put forwarded its intention to build fuel rods and plates in order to make its nuclear program completely self-sufficient – a claim that generated scant regards from the United States as they doubted Iran’s capability in building nuclear fuel rods.
The United States and its European Union allies had long feared Iran of using its nuclear program to create atomic weapons. On its part, Iran has repeatedly denied such allegations and said that they use its nuclear program purely for civilian purposes i.e. generating electricity and treating cancer patients. In the mean time, Iran has carried on with their uranium enrichment program despite repeated sanctions from the United Nations and several economic penalties by the United States and the European Union.
It is reported on Sunday that Iran has bundled together its nuclear fuel rods in the core of a nuclear reactor, where its highly enriched uranium is stored for producing cancer-treating isotopes. But at this moment, the attention of the whole world is turned towards Iran as these nuclear fuel rods (with the help of its uranium-enriched pallets) can also be used to generate fuel for nuclear reactors. Till the intention of Iran is clear, the whole world would be on tenterhooks. For, if what it claims is true, that would mean Iran is now very much closer to build a nuclear bomb than it has ever been if it so desires.
A year ago, Iran had put forwarded its intention to build fuel rods and plates in order to make its nuclear program completely self-sufficient – a claim that generated scant regards from the United States as they doubted Iran’s capability in building nuclear fuel rods.
The United States and its European Union allies had long feared Iran of using its nuclear program to create atomic weapons. On its part, Iran has repeatedly denied such allegations and said that they use its nuclear program purely for civilian purposes i.e. generating electricity and treating cancer patients. In the mean time, Iran has carried on with their uranium enrichment program despite repeated sanctions from the United Nations and several economic penalties by the United States and the European Union.
It is reported on Sunday that Iran has bundled together its nuclear fuel rods in the core of a nuclear reactor, where its highly enriched uranium is stored for producing cancer-treating isotopes. But at this moment, the attention of the whole world is turned towards Iran as these nuclear fuel rods (with the help of its uranium-enriched pallets) can also be used to generate fuel for nuclear reactors. Till the intention of Iran is clear, the whole world would be on tenterhooks. For, if what it claims is true, that would mean Iran is now very much closer to build a nuclear bomb than it has ever been if it so desires.
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