Iran would seek return of “prepayments with interest” if the Boeing deal is thwarted by Pres Trump.

Iran would seek return of “prepayments with interest” if the Boeing deal is thwarted by Pres Trump. (IFP).

Iran’s Minister of Roads and Urban Development Abbas Akhoundi told the domestic media that a deal which Iran has sealed with Boeing was “a commercial one” and could not be therefore cancelled through an order by the US president.

“This cannot happen,” Akhoundi emphasized in response to a question on whether Trump could order to kill the deal with Boeing. “This is a commercial deal.”

Boeing announced a $16.6 billion agreement with the national carrier Iran Air in December, saying the orders were on course to support nearly 100,000 new jobs in the United States.

The deal, however, has already run into opposition in the Republican-run Congress and Trump’s travel ban further makes it impossible for pilots, cabin staff and maintenance crews to enter the US for training.

US media earlier this week highlighted concerns that Iran’s deal with Boeing to buy 80 passenger planes had been thrown into doubt following President Trump’s executive order barring travel by Iranians to the US.

Meanwhile, Iran’s Deputy Transport Minister Asghar Fakhrieh-Kashan has warned that Iran would seek return of “prepayments with interest” if the Boeing deal were thwarted by Trump’s administration.

The aircraft have to be delivered over 10 years, beginning in 2018. The agreement includes orders for 50 narrow-body 737 passenger jets and 30 wide-body 777 aircraft. Boeing has said the deal was reached under the conditions of a US government license issued in September.

Iran has also signed a deal with the European plane maker Airbus to purchase 100 planes.  It delivered the first plane in January with more deliveries coming up over the next few months.

Highly Likely U.S. company Boeing to Cancel Iran Deal: MP.

U.S. company Boeing Highly Likely to Cancel Iran Deal: MP. (IFP).

Iranian lawmaker, Mohammad-Javad Jamali Nobandegani, believes it is highly likely that Boeing would cancel its contract with Iran due to the newly passed travel ban against Iranians by US President Donald Trump, according to a Farsi report by Mizan Online News Agency.

Boeing’s pending $8 billion deal with Iran Air was already in serious doubt before President Trump’s executive order Friday barred travel to the US by nationals and travelers of seven Muslim countries, namely Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen, for the next three months, The Seattle Times reported.

The report says the travel ban adds an immediate logistical barrier as pilots, cabin staff and maintenance crews will be unable to enter the US for training on how to fly and safely maintain Boeing airplanes.

Commenting on the issue, Mohammad Yahyavi, an Iranian-born former Boeing vice president who is now retired and living in Bellevue, said the ban leaves Boeing “in a very tough situation.”

“They have a sales commitment and a customer,” Yahyavi said. “On the other hand, they have government policies to obey. I know which will prevail. It’s the government.”

Expounding on the same issue, Jamali Nobandegani said any move or decision is expected from Trump during his terms in office.

Slamming Trump’s moves as unwise and baseless, he stressed, “Undoubtedly, at present, it is highly probable that Boeing would revoke its deal with Iran. This is a possibility which cannot be denied.”

The US is not willing to let Iran benefit from the advantages of the Joint Comprehensive Plan of Action — signed between Iran and P5+1, Jamali Nobandegani said, adding, “We should not expect otherwise. The US hostility towards Iran has been proven to us.”

He stressed that Iran is required to take exigent measures to be prepared to foil the US’ plots in time, particularly those aimed at violating the JCPOA.

“At present, every move by the Trump administration hints at the US government’s disposition to revoke the nuclear deal. We are required to be ready with appropriate countermeasures.”

Ahmadinejad’s Gov’t Is to Blame for US Seizure of Iranian Assets: Governor of the Central Bank of Iran.

Ahmadinejad’s Gov’t Is to Blame for US Seizure of Iranian Assets: Governor of the Central Bank of Iran. (Iranfrontpage).

The Governor of the Central Bank of Iran (CBI), Valiollah Seif, held the former Iranian administration responsible for a recent US court ruling to seize near $2bn of Iran’s frozen assets, saying Mahmoud Ahmadinejad’s government was too negligent in making investments in the US.

“Unfortunately, in the previous government, there was negligence in buying bonds and making investments in the US dollar,” Seif said.

Seif noted that “u-turn” transactions with the Islamic Republic were exceptionally permitted in the US dollar sanctions against Iran, but Ahmadinejad’s administration was not careful and cautious enough in making the investments.

The former government’s officials should have considered the issue and exercised enough caution, but in spite of warnings by CBI experts against investments on dollar-based bonds, they (the then officials) made the purchases and set the stage for the Iranian nation’s loss, he added.

“The warnings by those experts came true, and unfortunately, the ban on dollar-based transactions with Iran was once again imposed in 2008, and American banks were banned from having such transactions with Iran,” Seif said.

If the bonds had not been purchased at that time, there would have been no money to be seized by the Americans, he added, as reported by the CBI’s website.

The measures taken by the forerm government led to other hostile moves by the US, including the 13599 Executive Order against the CBI, he noted.

He was referring to an executive order issued in 2012, based on which the US Treasury blocked “all property and interests in property of the Government of Iran, including the Central Bank of Iran, and of all Iranian financial institutions, regardless of whether such persons are located or incorporated inside or outside of Iran”.

Therefore, he concluded, all these unfair and illegal measures by the Americans took place under Ahmadinejad’s tenure, which was a time when the Iranian government considered sanctions to be barely effective, even futile.

If any of these moves had been prevented at that time, the recent US court ruling could not have happened, he noted.

Rouhani’s Gov’t Evading Responsibility by Pinning Blame on Predecessors: Analyst.

Meanwhile, Kezem Anbarlouie, a political analyst, believes that the incumbent government of President Hassan Rouhani is trying to blame Ahmadinejad’s to whitewash its own deficiencies.
in a comment published by Tasnim and translated by IFP, Anbarlouie referred to similar remarks by First Vice-President Eshaq Jahangiri on the responsibility of the former government for the asset seizure, describing his remarks as “shocking”.

“The First VP said the previous government was not prudent enough, and spent part of the CBI’s resources on purchasing bonds, even if it knew the Americans were not committed to international regulations,” Anbarlouie said.

He further argued that if Americans are not committed to international regulations, Rouhani’s government should also have refused to sign the recent nuclear deal (JCPOA) with them.

“The previous government was in conflict with the US, and everyone in the world knew that; however, the US government did not dare to seize Iran’s money at that time,” he went on to say.

“The 11th government has made an agreement with the Americans and shaken hands with them while they promised to release Iran’s frozen assets, but now, they have not only refused to release them, but they are also stealing and seizing the country’s money once again,” the analyst added.

“To those who say the former government is to blame for the US seizure of Iranian assets, one should say, ‘What were YOU doing? Do not blame the former government for your own imprudence’.”

Quoting materials from Iran Front Page is permitted only if the source is mentioned by name.

Iran's FM Zarif: 'US government must protect Iran’s assets'.

Iran's FM Zarif: 'US government must protect Iran’s assets'. (Taz).

Iran thinks that the US government responsible for protecting Iran's assets in that country, Mohammad Javad Zarif, the Iranian foreign minister said.

Speaking at a joint press conference with Macedonian counterpart Nikola Poposki on a visit to Iran, Zarif said that Iran does not recognize the recent verdict of a US court on its assets, Iran's state-run IRINN TV reported Apr. 25.

The US Supreme Court last week ruled the transfer of nearly $2 billion of frozen Iranian assets to the American victims of terrorist attacks, including the 1983 truck bombing of a Marine Corps barracks in the Lebanese capital of Beirut. Investigators of the court concluded that Iran was responsible for that attack, which Tehran has denied.

The assets belong to the Central Bank of Iran (CBI), blocked under the US sanctions.

The verdict is against international laws, Zarif said, adding Tehran will spare no effort to prevent the US to gain access to its assets."Iran will pursue the issue via legal channels," he added.

"We have announced that the US government is responsible to protect Iran's assets, and if they fail, Iran will claim compensation in due time," Zarif said.

He further said that the Iranian government has established a special committee to consider the issue.
The committee will investigate the reason of the former government's making investments recklessly in a way that US can block that, the way of Iran's ability to prevent reoccurrence of the similar issues in the future and "encroaching on Iran's assets".

The CBI President Valiollah Seif said Apr. 24 that the former government is the one that is actually responsible for the recent US blockade of Iranian assets.

The former government of Iran paved the way for the court ruling by being ignorant of the facts while buying bonds and making investment in dollar, Seif said.


"If the bonds which had been valued in the dollar hadn't been bought with the indirect brokerage of Americans, there would not have been any money for the US to block," he added. More on this story here.

Related:

Ahmadinejad’s Gov’t Is to Blame for US Seizure of Iranian Assets: The Governor of the Central Bank of Iran (CBI)

Iran Threatens Saudi Arabia: "The IRGC...Will Take Vengeance" On The Al-Sa'ud Regime;

Iran Threatens Saudi Arabia: "The IRGC...Will Take Vengeance" On The Al-Sa'ud Regime; "Our Responses Will Be... Harsh And Decisive" HT: Memri.

In recent days, Iran's Supreme Leader Ali Khamenei and the top echelons of the Islamic Revolutionary Guard Corps (IRGC) dispatched threatening messages to Saudi Arabia's rulers in response to the hundreds of Iranians killed in the stampede in Mina, Saudi Arabia, which claimed the lives of over a thousand Hajj pilgrims.

Khamenei, along with IRGC commanders and ideological camp leaders, were furious at the Saudi royal family, holding it responsible for the disaster and promising a "harsh and decisive" response if Saudi Arabia continued what they called its deliberate anti-Iran conduct.

The daily Kayhan, which is close to Khamenei, even claimed that Saudi authorities had intentionally caused the stampede after it was planned by the Israeli Mossad.

In fact, in the past 18 months, Iran has repeatedly threatened Saudi Arabia and the Al-Sa'ud royal family, as tensions between the two countries escalated against the backdrop of the nuclear negotiations, the Saudi policy of lowering oil prices, and the wars in Yemen, Syria, and Iraq.

Thus, for example, Iran's leadership threatened to "use all means at its disposal against Saudi Arabia," including targeting Saudi oil transports, sparking Shi'ite uprisings in eastern Saudi Arabia, threatening to set oil wells on fire, and more, in order to cause the collapse of the Al-Sa'ud regime." Read the full story here.

Iran oil won’t lead to decrease in oil prices in world markets. - Russian Expert.

Iran oil won’t lead to decrease in oil prices in world markets. - Russian Expert. (Taz).

The lift of sanctions imposed on Iran won’t lead to decrease in oil prices in world markets, Sergey Pikin, director of Russian Energy Development Fund said in an interview with Trend.

Iran will not immediately deliver large volumes of oil to the market, he said, adding that at best, it will be able to increase the oil supply by one million barrels per day throughout a year.

The expert said that it is not such a large volume to have a significant affect on oil prices.

Pikin pointed out that in order to considerably increase the oil production, Iran needs investments worth tens of billions of dollars in oil projects.

“But for the present, Iran is in such a situation that the sanctions can be imposed again and no one will make large volumes of investments,” he added.

Foreign investors will not make serious investments in Iran until it becomes clear that this country fulfills all its obligations, according to the expert.

“If the sanctions imposed on Iran are lifted much later (than planned), this will positively affect the price hike,” said Pikin.

The futures prices for crude Brent oil and WTI oil totaled $52.8 per barrel and $49.47 per barrel, respectively as of Oct.7.

Most analytical agencies do not expect significant growth in oil prices in the short term. Hmmm.....I said it before and say it again, 'Iran will use it's huge stockpile as leverage to gain back their OPEC Share, if OPEC doesn't give in to their demands the will dump all their stocks on the market crashing the OIL market prices.' Nobody wants $20/Barrel prices. Read the full story here.

Confusion continues over Total, Shell gasoline retail sites issue in #Iran: http://t.co/KwmjZhbvEB

— MFS - The Other News (@MFS001) October 8, 2015

Iran determined to reclaim its share in global oil market: Zanganeh.

Iran determined to reclaim its share in global oil market: Zanganeh. (PressTv).

Iran's oil minister says the Islamic Republic is determined to reclaim its share in global oil markets once sanctions imposed on the country’s energy sector are lifted.

“Immediately after lifting sanctions, it’s our right to return to the level of production we historically had,” Bijan Zangeneh said, adding, “We have no other choice.”

The Iranian minister made the remarks in an interview with Bloomberg, which was published on Wednesday, at the Iranian Oil Ministry in Tehran.

Iran lost part of its share in the global oil market after sanctions were imposed on the country by the United States and the European Union at the beginning of 2012, with Western countries claiming that there was diversion in Iran's nuclear program toward military purposes. Iran rejected Western countries’ claims categorically, insisting that its civilian nuclear program was only meant for peaceful purposes.

Iran reached an agreement with the P5+1 group of countries – the US, the UK, France, Germany, China, and Russia – in Vienna on July 14, known as the Joint Comprehensive Plan of Action (JCPOA). According to JCPOA, sanctions against Iran's economic sectors, including oil and gas industry, will be lifted in return for certain restrictions on Tehran’s nuclear program.

Elsewhere in his interview, Zangeneh said Iran plans to produce 3.8-3.9 million barrels per day (bpd) of oil by March 2016.

He noted that the country will raise its output by 500,000 bpd soon after sanctions are lifted and by 1 million bpd within the following five months.

He added that Iran's oil output currently stands at 2.8 million bpd, which is the highest level the country has achieved in three years, and is exporting more than 1 million bpd.

Referring to the drastic oil price fall in global markets, the Iranian oil minister emphasized that the oil price slump will not slow Iran's return to the market.

Oil has dropped by about half in the past year from more than USD 100 a barrel in September 2014 after the 12-member Organization of the Petroleum Exporting Countries (OPEC) decided during meetings in December 2014 and June 2015 not to reduce output despite a global crude glut.

In another part of his interview, Zangeneh said most OPEC members would like to see crude prices at $70-$80 a barrel and the organization does not need to coordinate with other oil suppliers to determine output levels.

An oil price at $70-$80 a barrel would be “fair,” he said, adding that OPEC is open to coordinating its action with non-members, although it won’t wait for others to determine or approve its action.
Hmmm.....I said it before and say it again:
1.'Iran will use it's huge stockpile as leverage to gain back their OPEC Share, if OPEC doesn't give in to their demands the will dump all their stocks on the market crashing the OIL market prices.' Nobody wants $20/Barrel prices. 
2.Worst case scenario Iran blocks the strait of Hormuz even if it s for a few weeks the price of oil will sky rocket.

OPEC willing to talk to other oil producers, but vows to protect own interests.

OPEC ready to talk to other oil producers, vows to protect own interests.(Taz).

OPEC stands ready to talk to all other oil producers, but this has to be on a level playing field, the cartel said in its report published on its official website.

“OPEC will protect its own interests. As developing countries, its members, whose economies rely heavily on this one precious resource, can ill afford to do otherwise,” the report said.

OPEC stressed that today’s continuing pressure on oil prices, brought about by higher crude production, coupled with market speculation, remains a cause for concern for OPEC and its members.

“Apart from the obvious loss of much-needed revenue required for member countries’ socio-economic development, there are growing fears that, under the current low-price scenario, investment in future capacity additions will continue to be shelved or cancelled altogether,” OPEC said.

With the long lead times associated with bringing new oil to market, the industry cannot afford a lapse in spending, particularly in view of the long-term expectations for oil demand, which point strongly to a considerable rise in world oil consumption over the next two decades at least, according to the report.

Failure to invest now could mean prices in the coming years spiking to levels inconsistent with what is considered ‘reasonable’ for both producers and consumers, OPEC believes.

“There is no quick fix, but if there is a willingness to face the oil industry’s challenges together, then the prospects for the future have to be a lot better than what everyone involved in the industry has been experiencing over the past nine months or so. Only time will tell,” OPEC stressed.

Global oil market experienced a historic price fall as US oil prices fell below $40 a barrel on Aug. 28 for the first time since the 2009 financial crisis.

OPEC is not due to meet until Dec. 4.

Saudi Arabia, the world's top oil exporter, and other Gulf states pushed OPEC's strategy shift last year to defend market share rather than cut output to support prices. Hmmm.....I said it before and say it again, 'Iran will use it's huge stockpile as leverage to gain back their OPEC Share, if OPEC doesn't give in to their demands the will dump all their stocks on the market crashing the OIL market prices.' Nobody wants $20/Barrel prices.

Obama's BFF Iran says OPEC members in favor of $70/b oil price.

Iran says OPEC members in favor of $70/b oil price. (Taz).

Iranian oil minister Bijan Namdar Zanganeh said that the price of $70-$80 for each barrel of crude oil is fair, and most OPEC members are in favor of it, Iran’s Mehr news agency reported Aug. 29.

“We should make efforts to increase the oil prices in global markets,” Zanganeh said, meanwhile arguing that "Tehran is not concerned about oil price fall”.

“If we are concerned about this issue, so we should stop oil production, but we will not give up our historic share in the world market at any cost,” the minister stressed.

Zanganeh earlier blamed the latest drop in oil prices on some members of OPEC and questioned whether any OPEC emergency meeting would reach an agreement.

"To balance the oil price... OPEC members should balance their production. An emergency meeting has been requested and we don't have a problem with that," the Iranian minister said.

Global oil market experienced a historic price fall as US oil prices fell below $40 a barrel on Aug. 28 for the first time since the 2009 financial crisis.

OPEC is not due to meet until Dec. 4.

Saudi Arabia, the world's top oil exporter, and other Gulf states pushed OPEC's strategy shift last year to defend market share rather than cut output to support prices.

Hmmm.....I said it before and say it again, 'Iran will use it's huge stockpile as leverage to gain back their OPEC Share, if OPEC doesn't give in to their demands the will dump all their stocks on the market crashing the OIL market prices.' Nobody wants $20/Barrel prices.

Iran says not willing to give up quota in OPEC, share in world market.

Iran says not willing to give up quota in OPEC, share in world market.(Taz).

Iran’s Oil Minister Bijan Namdar Zanganeh said that Iran will not give up its quota in OPEC and its share in world market.

Speaking on Iranian State TV Aug. 26, Zanganeh said Iran will raise exports even if the oil prices fall.

“The Islamic Republic of Iran will by no means ignore its quota in OPEC and the world oil market. We have no problem with slashing of oil prices on the global market because we can double our oil exports,” said Zangeneh, adding, “We should bypass the tyrannical conditions imposed on our country because maintaining Iran quota in OPEC and world market is among our vital parameters.”

“Those should be concerned that have extra income and production in the world markets; On what ground should Iranian government do something to lose its historical share in the oil market just because oil prices should increase,” he said.


Noting that the OPEC members should reconsider current oil production, Zanganeh said to this end, OPEC members have been asked to hold an extraordinary session that will be held if all the 13 members agree to it on consensus. Certain OPEC members do not wish increase in the prices and want to harm other members through low prices as a result of oversupply, he concluded. Hmmm.....I said it before and say it again, 'Iran will use it's huge stockpile as leverage to gain back their OPEC Share, if OPEC doesn't give in to their demands the will dump all their stocks on the market crashing the OIL market prices.' Nobody wants $20/Barrel prices.


Related: 

OPEC to keep "no output cut" policy

OPEC has roughly split into two groups, Pugh said in a report.

“The first group wants to maintain the current output target. This group consists mainly of the wealthier Gulf countries, that is, Saudi Arabia, Kuwait, Qatar and the UAE. The second group consists of the poorer members of OPEC who want a cut in production, namely Iran, Iraq, Nigeria, Algeria, Venezuela, Libya, Angola and Ecuador.”

“The second group outnumber the first by 2-1 and could call an emergency meeting if they wished. (It only needs a simple majority of the 12 members to call an emergency meeting.) But it is largely seen as pointless without the support of Saudi Arabia, by far the group’s largest producer,” Pugh said.
In addition, none of the second group are really in a position to cut their own output, according to the economist.

“Indeed, of the eight countries we put in the second group, both Iran and Iraq are recovering from decades of sanctions and have said they actively plan to pump as much oil as possible, regardless of the price. Libyan output remains disrupted by fighting so barely has any output to cut, and the African and South American members are struggling financially so they need to continue pumping at full blast to maximize revenues,” he said in a report.

“As a result, when these countries call for a cut in the production target, they are really calling for Saudi Arabia and its allies to reduce output,” Pugh said. And he doubts that the first group’s countries are altruistic enough “to cut their production purely to benefit the rest of OPEC and non-OPEC producers, especially as the prime beneficiary would be Saudi Arabia’s long term rival, Iran.”
He also believes that even if an emergency meeting is called, and a production target cut is agreed upon, there is little chance of the group actually sticking to it.

Oil price falls as Saudi Arabia dictates OPEC cartel to hold production levels.

Oil price falls as Saudi Arabia dictates OPEC cartel to hold production levels. (Taz).

Saudi Arabia has bulldozed fellow members of the OPEC oil cartel to hold production levels at the current level, ensuring lower crude and petrol prices should continue for the foreseeable future, The Guardian reported.

The world’s most powerful oil-producing country is determined to keep down the value of oil in a bid to reassert the dominance of Opec against its new rivals, the shale companies in North America.

Saudi Arabia’s oil minister, Ali al-Naimi, insisted OPEC’s latest ministerial meeting in Vienna on Friday had been amicable, despite fears among some cartel members that a persistent oversupply of crude could push prices even lower.

The price of the key Brent blend crude fell $1.62 to $62 a barrel after the meeting and compares with the $115 seen 12 months ago before traders panicked about the scale of US output growth and faltering demand.

In fact, prices had been steadily recovering this year from a $45 low in January but continued gloom that they could remain low this year has led to major spending cuts by the oil industry in Aberdeen and other energy hubs.

Meanwhile, the price of unleaded petrol for cars has fallen to about 113p a litre in the UK compared with 130p a year ago. Diesel prices are down from about 135p a litre to 118p, according to the AA motoring organisation. Lower transport costs has helped many British industries and reduced the country’s inflation rate.

OPEC met last November and turned its back on oil producers’ usual reaction to lower prices, which is to rein in their own output. Saudi Arabia and some key cartel allies were convinced that OPEC’s interests were best served by keeping prices low, holding on to customers and trying to shut down US shale rivals, which face higher costs.

The strategy has continued and the Saudis insisted everyone was happy. “You’ll be surprised at how amicable the meeting was,” Naimi said as he left OPEC’s headquarters in Vienna.

He confirmed the group had agreed to stick to “the same ceiling”, even though some members of the oil cartel have been cheating on their quotas. Official production is 1m barrels higher than the 31m-barrel-a-day official output target.

Oil ministers from Iraq, Venezuela and Angola said this week that a price of $75 to $80 a barrel would be their preferred level.

But they will have to hope that global demand continues to improve to absorb the supply from Iran if a deal with the west over its nuclear programme is finalised later this month, which may end western sanctions on its oil exports. Hmmm.....If you're Canadian and wonder why you're still paying almost the same at the pump as last year...here's an explanation, for Ontarians You voted for Liberals so don't complain you got what you wanted and will get even more of the same!

 Related: OPEC’s 30 mbpd ceiling output stays on

Ex Qatari-oil minister warns OPEC against unilateral output cuts.

Ex Qatari-oil minister warns OPEC against unilateral output cuts. (DS).

KUWAIT CITY: Qatar's veteran former energy minister Abdullah al-Attiyah warned OPEC members Monday against cutting oil output unilaterally because the cartel has lost its role as the world's swing producer.

"OPEC should not do anything because it is not the swing producer" of the past, Attiyah told reporters in Kuwait City.

"They cannot and will not cut [output] unless the main producers outside OPEC join forces," he said.

Attiyah, who led the energy portfolio in gas- and oil-rich Qatar for about two decades, said OPEC should first reach a binding agreement with non-OPEC producers before cutting production.

"Otherwise they will lose market share and others will enjoy high prices and produce more," Attiyah said.

He said OPEC and non-OPEC producers were currently in talks to strike a deal ahead of the organization's meeting early in June.

The days of oil fetching $100 a barrel are over for the foreseeable future, he said, predicting that prices will settle at between $60-70.

Global oil prices dipped Monday as investors took their cue from a rebounding dollar, awaited fresh US economic data and digested another Chinese interest rate cut.

Attiyah estimated at least two million barrels of oversupply of crude in the market at a time when several countries have built the largest stockpile in over 30 years.

Oil production in Saudi Arabia in March amounted to 10.01 million barrels per day compared to 9.663 million barrels per day in February, according to OPEC’s latest monthly report.

Oil production in Saudi Arabia in 2015 will increase by 0.5 million barrels compared to 2014 and reach 10.2 million barrels per day, according to analysts at JP Morgan.

Playing for high stakes: 'Only Allah can set the price of oil' - Saudi's oil minister.

Playing for high stakes: 'Only Allah can set the price of oil' - Saudi's oil minister. (Independent).

Saudi Arabia’s oil minister has turned to divinity over the issue of slumping prices in oil, claiming that “it’s up to Allah”.

Speaking to CNBC, oil minister Ali al-Naimi said that “no one can set the price of oil – it’s up to Allah”.

Saudi Arabia is the world’s biggest producer of oil and, while oil prices have been staying low on the market, the country has decided to increase its production of the substance rather than cut it.

Sanctions currently placed on Iran could soon be lifted as part of international nuclear negotiations, which would mean the country’s crude oil would come back on to the market and cause prices to plunge further.

But al-Naimi told the broadcaster he was not worried about this possibility.

His comments come amid speculation of how the country will maintain its decision not to cut oil production. Hmmm.....'When you have eliminated the impossible, whatever remains, however improbable, must be the truth'. The only way to force the oil price up would be for Iran to close the strait of Hormuz, Which would mean war between the U.S. and Iran.

'CHANGE" - The Iran nuclear deal will kill off all US Shale oil production.

Source. 

'CHANGE" - The Iran nuclear deal will kill off all US Shale oil production.(CNBC).

Brent crude oil dropped towards $55 a barrel on Tuesday as Iran and six world powers entered a final day of talks over a nuclear deal that could see the energy-rich country increase oil exports to world markets.

Disagreements on enrichment research and the pace of lifting sanctions remained as hurdles that could scupper a deal to end a 12-year standoff between Iran and the West.

Oil prices extended two days of declines as investors said a deal in Lausanne could lead to an increase in Iranian crude supply to a market already weighed down by oversupply due to rising U.S. shale production.

"If the flood gates to Iranian crude open, (prices) will probably test this year's lows again," Daniel Ang, analyst at Singapore-based brokerage Phillip Futures, told Reuters Global Oil Forum.

Iran could increase oil production by around 500,000 barrels per day (bpd) within six months if sanctions are removed, and by an additional 700,000 bpd within another year, according to estimates by Facts Global Energy.

Western sanctions have limited Iranian crude oil exports to around 1 million bpd, and shipping sources say Iran is storing at least 30 million barrels of oil on a supertankers. Hmmmm....All that is left for Iran is to close the Strait of Hormuz a few months after US Shale production and Canadian tar sands stopped. Great foreign and domestic policy move from the Obama 'admin'Read the full story here.

"Sanctions That Benefit" - Trade turnover between Iran and U.S. growing despite of sanctions.

"Sanctions That Benefit" - Trade turnover between Iran and U.S. growing despite of sanctions.(Taz).

Despite of the sanctions imposed by the U.S. and its allies on Iran, the trade turnover between the U.S. and Iran is growing, Iranian ambassador to Azerbaijan Mohsun Pakayin told Trend on Feb.1.

The trade turnover between the two countries amounted to $360 million as of 2013, according to the ambassador. The trade turnover between the U.S. and Iran was equal to $252.3 million in 2012, according to ISNA news agency.

As a result of sanctions, the trade turnover between the two countries started to drop beginning from mid-2010, while its growth is observed from mid-2012, the diplomat said.

The trade turnover between the two countries increased by 39 percent (to $118.5 million) in January-April 2013 compared to the same period of 2012.

Pakayin pointed out that immediately after the imposing of the sanctions a decrease was observed in economic relations of the two countries. However, later the U.S. companies began to find circuitous legal ways for cooperation, after which the trade turnover began to grow.

Taking into account the agreement signed in Geneva (lifting of several sanctions against Iran), the trade turnover between Iran and the U.S. will increase even more, the ambassador said.

Who lifted the Iran Sanctions? latest report from Iran indicates doubling the petrochemical products export over the past month.

Who lifted the Iran Sanctions? latest report from Iran indicates doubling the petrochemical products export over the past month.(Taz).By Dalga Khatinoglu.

The latest report from Iran indicates doubling the petrochemical products export over the past month. A report from the Iran Custom Administration shows a growth of about 214 percent, surpassing pre-sanctions levels.

There is not any concrete evidence to show the reason, but the Custom Administration's report last month indicates a twofold increase of condensate export in last two months of Iranian calendar year, compared to average of monthly condensate export during the year, surpassing pre-sanctions level as well.

The condensate and petrochemical products exports are vital for Iran because they share about a half of the country's total non-oil exports.

The rapid rising of condensate and petrochemical products exports after the Iranian newly elected moderate President Hassan Rouhani took power in August seems to be resulted by the easing of some restrictive measures imposed by the West on Iran during Mahmoud Ahmadinejad's presidency.

When comparing the figures over the past two months with the same periods during last two years, we find no indication that these rises result from seasonal conditions.
The EU's petrochemicals-related sanctions on Iran started even several months earlier than oil-related ones.Read the full story here.

"Sanctions That Benefit" - U.S. acts to block Turkish firm from sending GE engines to Iran.

"Sanctions That Benefit" - U.S. acts to block Turkish firm from sending GE engines to Iran.(Taz).

The U.S. Commerce Department on Monday issued a rare emergency order aimed at blocking the illegal re-export of two large, used U.S.-built commercial jet engines to Iran by a company based in Turkey, Reuters reported.

Assistant Commerce Secretary David Mills, who oversees export enforcement, signed the order on Friday after learning that Turkish-based 3K Aviation Consulting & Logistics planned to re-export two engines built by General Electric Co to Iran on Tuesday using Pouya Airline, an Iranian cargo airline.

There has been a warming in U.S.-Iranian ties this year, including a Nov. 24 deal to curb the Iranian nuclear program, but most exports to Iran remain strictly banned under U.S. law.

The order, which will be in effect for 180 days, includes sweeping consequences for 3K Aviation, Pouya Airline and Adaero International Trade, the Illinois-based company that the department said had shipped the used aircraft engines to Turkey.

The order bans all three companies and their key officers from engaging in negotiations, trade, transport or other activities involving any U.S. export-controlled items, not just the aircraft engines in question.
The order also applies to banks, insurance companies and other parties that might be involved in financing or otherwise supporting any such transactions.

The department issues one or two such orders a year, said one Commerce Department official.
Sadettin Ilgin, managing director of Adaero International, denied any wrongdoing, and said he had been in touch with U.S. and Turkish authorities to clear his company's name.

Ilgin told Reuters the company had documentation showing that it sold the engines, which came from Turkish Airlines, to International Aerospace Group, a U.S.-based company, for $4.1 million, and then shipped them from Istanbul, Turkey, to Frankfurt, Germany, in late December.

He said he had expected the engines to be sent to Russia for use by Siberian Air and was shocked when he received the U.S. order aimed at blocking their transfer to Iran.
"We did not sell the engines to 3K," said Ilgin, who worked for Turkish Airlines for 40 years. "This was all done properly and we have the paperwork to show it."

Ilgin said Turkish officials had assured him that they had denied permission for Pouya Airline to pick up the engines in Antalya, southwestern Turkey. Officials at 3K told him they planned to send the engines back to Germany, he told Reuters.
No comment was immediately available from 3k Aviation or from International Aerospace Group.

A Commerce Department official declined comment on whether Turkey was cooperating with the U.S. government on the issue and how the department had learned about the planned transfer.

GE spokesman Rick Kennedy said the company had not been informed about the Commerce Department order. The engines in question were used and GE was not involved in their sale.

It was not immediately clear what type of engines might have been involved in any previous transport by Pouya.

The Commerce Department official declined comment on whether the U.S. government was investigating possible earlier illegal exports of U.S.-built engines to Iran by 3K Aviation.

Two sources familiar with the aircraft engine market said the engines were likely intended for use on Airbus planes operated by Iran.
Previous cases have led to criminal and civil charges against companies that re-exported goods to Iran.Hmmm...............Iran military Dassault Falcon 20E jets, again operational

Iranian Foreign Ministry Spokeswoman Marzieh Afkham: "Iran would review EU embassy request."

Iranian Foreign Ministry Spokeswoman Marzieh Afkham: "Iran would review EU embassy request." (PressTv).

Iran Foreign Ministry Spokeswoman Marzieh Afkham says Tehran will review any request by the European Union to establish a representative office in the country.

“If the European Union makes a request for establishing a representative office in Tehran, we will review the case according to the importance of relations and its impact,” Afkham said Saturday.

Afkham remarks came after a Member of the European Parliament (MEP) said EU countries had informally requested the EP open an embassy in Iran to aid more “open exchange.”

Tarja Cronberg of Finland, who sits on the EP’s Foreign Affairs Committee, said the proposal was made by the ambassadors of member states in Iran during her recent visit to the country.

Cronberg said that the proposal had also been discussed with Iranian President Hassan Rouhani and Foreign Minister Mohammad Javad Zarif during her visit.

However, she said EU officials in Brussels are concerned about the cost of establishing a mission in Tehran.

The new calls for improved relations comes after Iran and the six major world powers sealed a historic interim agreement in Geneva on November 24 in an effort to set the stage for the full resolution of the West’s decade-old dispute with the Islamic Republic over the country’s nuclear energy program.


In exchange for Tehran agreeing to limit certain aspects of its nuclear activities for six months, the six countries have agreed to lift some of the existing sanctions against Iran.Hmmmm.....European human right defence is only worth so much Euro's in Financial profit.

Video - Missile attack by Al-Mukhtar Army on Camp Liberty, December 26, 2013.

Video - Missile attack by Al-Mukhtar Army on Camp Liberty, December 26, 2013. HT: NCRI.

Hmmm......Anyone believing these 'Mad Mullahs' wouldn't do the same to Israel or the US need his head examinated!

Iranian dissidents Baghdad camp attacked with Rockets by the al-Mukhtar Army militia, leaves Two killed - 50 + wounded.

Many trailers and facilities of Camp Liberty destroyed in fourth missile attack

Iranian dissidents Baghdad camp attacked with Rockets by the al-Mukhtar Army militia, leaves Two killed - 50 + wounded.(NCRI).

A large number of trailers and facilities at Camp Liberty were destroyed as the result of the fourth attack with dozens of different types of missiles at 9:15 pm local time tonight.

Mohammad Javad Saleh Tehrani is one of the victims of this missile attack and another martyr has not yet been identified due to the severity of his wounds. A number of those wounded are in critical condition.

By this criminal attack, [Iraqi Prime Minister] Nuri al-Maliki and [the Iranian regime’s Supreme Leader] Ali Khamenei are attempting to cover up the disgrace over the September 1st execution-style massacre at Camp Ashraf. The missile attack on Camp Liberty came after the trip to Tehran by Maliki and his security officials.

As of 10:00 pm Baghdad ocal time, two martyred during the missile attack on Camp Liberty.

At 9:15 pm local time, on 26 December 2013, Camp Liberty was attacked with dozens of missiles of different types. The attack occurs after Nuri al-Maliki’s trip to Tehran and is payback to the religious fascism ruling Iran to enlist the mullahs’ support for Maliki’s third term as Prime Minister.

At 21:15 local time, Camp Liberty was targeted by dozens of missiles of different types. The number of those slain and wounded will be announced subsequently.

This is the fourth missile attack on Iranian dissidents in Camp Liberty (Iraq) in 2013, while the Iraqi government has not yet delivered the bodies of those massacred during the September 1, 2013 attack on Camp Ashraf, to Liberty residents for burial.

According to Reuters The Al-Mukhtar Army militia claimed to be resposible for the cowardly attack:
In a rare claim of responsibility for attacks on the MEK, Wathiq al-Batat, commander of the al-Mukhtar Army militia, told Reuters his group had fired 20 Katyusha rockets and mortar rounds at the camp.

"We've asked (the government) to expel them from the country many times, but they are still here," he said, accusing the group of communicating with Sunni and Shi'ite politicians he claimed were linked to al Qaeda.

Al-Mukhtar Army is a relatively new Shi'ite militia, which has said it is supported and funded by Iran. Batat is a former leader of the more well-known Kata'ib Hezbollah militia.

Shahriar Kia, another spokesman for MEK who lives in the camp he said houses about 3,000 Iranian dissidents, said two men were killed when a rocket fell near their caravan.

Related:

Iranian Resistance reveals: Iraq's Maliki agrees to conditions set by mullahs for his third term. 

Hmmmm........ Obama: If We Work Hard, Afghanistan Could Be a Success...Like Iraq!If feel already for the people in Afghanistan with this kind of Success