06202018Wed

19 Million Dollar Scam in Tehran Sparks Protests

Iran Focus

London, 19 Jun - In the Gisha area, a builder pre-sold several housing units that were under construction to several people simultaneously. After issuing a tracking code, the builder fled with over 80 billion tomans (approximately 19 million USD). On Monday, June 18th, a group of the betrayed home buyers staged a protest against the million-dollar scam of the Gisha housing construction in Tehran, Iran.

Iran's blocking of OPEC agreement still leaves options for Saudi Arabia

Iran Focus

London, 18 Jun - Many have been saying that Iran is putting Saudi Arabia in a position where it cannot act. However, this is not true. There are a number of possibilities still open to Saudi Arabia even if Iran does go ahead and block an increase in OPEC's oil production.

Iran is threatening to veto any proposal for more OPEC output and claims that it has the support of Venezuela and Iraq. Both Saudi Arabia and Russia are keen for output to be increased.

OPEC's representative from Iran - Hossein Kazempour Ardebili - said yesterday that if Russia and Saudi Arabia want the production to increase, it must have unanimity.

Iran: IRGC creating more environmental disasters

Iran Focus

London, 14 Jun - There were hopes that Iran’s Islamic Revolutionary Guard Corps (IRGC) was going to ease up on its control over the Iranian economy. The country’s defence minister had said that Supreme Leader Ayatollah Ali Khamenei ordered the IRGC to diminish its economic activities.

However, its actions show that this is not the case at all. In fact, looking at its actions, it is safe to say that it is planning to increase its activities.

Oberbank

Iran Focus

London, 14 Jun - An Austrian bank has become the latest company to withdraw from deals with Iran in light of strict US sanctions that are set to be imposed in November.

Oberbank, which signed a deal with Iran in September, announced on Wednesday that it would withdraw from Iran due to the increased risk for European companies.

Oberbank said on its website: "Oberbank has supported numerous clients and their Iran business in the past two years. The threat posed to European companies by U.S. secondary sanctions is forcing us to retreat."

Iranian banks to SWIFT

Iran Focus

London, 13 Jun - As the US takes measures to re-impose crippling sanctions on Iran, options to support the Iranian people’s strive for freedom and democracy are being revealed.

For instance, severing all access for Iranian banks to SWIFT, or the Society for the Worldwide Interbank Financial Telecommunication has the potential to exert crippling economic and financial pressure Tehran that would affect the regime’s trade relations and import/export process.

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