08162018Thu

Sanctions on Iran Are Working

Iran Focus

London, 28 Jun - Donald Trump’s decision to pull the United States out of the fatally flawed nuclear deal with Iran has been met with hysteria from the mainstream media and European politicians, but this should not be surprising. The media dislikes Trump and Europe is making millions from trade with Iran.

This deal, which was never ratified as a treaty by the Senate, was a diplomatic disaster. The mullahs never intended to fulfil their promises, there were no real safeguards in place to make sure that they did, and so it should come as no surprise that Iran has violated the deal.

USD Exchange Rate Reaches Record Highs in Iran, Prices for Housing, Cars, Gold Increasing

Iran Focus

London, 13 Jun - On June 11th, the exchange rate for the U.S. dollar reached record highs on the Iranian market. The dollar was traded for 69,000 rials on Tehran’s foreign exchange market. Just the previous day, traders reported on the messaging service Telegram that buyers could purchase a dollar for 67,300 rials.

As well, marking a 4 million rial rise in comparison with the price last week, the price of a standard gold coin was more than 25 million rials on the Tehran market.

The price of various models of cars has risen between 20 million and 400 million rials over the past 10 days.

Indian Refiner Nayara Energy - formerly known as Essar Oil

Iran Focus

London, 12 Jun - One of Iran's largest oil customers has begun scaling back its oil purchases this month following the US withdrawal from the 2015 nuclear deal, which will soon see harsh nuclear sanctions reimposed in addition to the nonnuclear ones that are already being imposed.

Indian Refiner Nayara Energy - formerly known as Essar Oil – will now be limiting its import of oil from Iran to about 3-4 million barrels per month, according to a source familiar with the issue, whereas they’ve previously averaged 6 million barrels per month. This is equivalent to a 40-50% drop.

French car manufacturer PSA

Iran Focus

London, 5 Jun - The French car manufacturer PSA, which makes Peugeot and Citroen cars, said on Monday that it would withdraw from two joint ventures to sell its cars in Iran to avoid US sanctions that will be reimposed following Donald Trump’s announcement that he would pull out of the 2015 Iranian nuclear deal.

In a statement, PSA said: “The group has begun to suspend its joint venture activities, in order to comply with US law by August 6, 2018.”

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