Iran making global economy Asia-centric

[Lankan Ranger]

Iran making global economy Asia-centric

Iran said that it is in the process of shifting the Western and U.S. centric global economy towards Asia and this move will deepen the economic crisis sweeping Europe.

According to new Iranian Ambassador in Sri Lanka Mohammed Nabi Hassani, the Asian economies will definitely prosper by the strong Iranian presence in the Asian energy market.

He was of the view that the sanctions imposed by the European Union and the U.S. will have little impact on his country though the economies of the poor and poorest of countries will be affected by the sanctions.

The ambassador said that the economy of many countries will be affected with an increase of global oil prices.

Hassani – pour added that Iran will continue buying Sri Lankan tea and his country is eying closer relations with Sri Lanka in almost all sectors in the future.

“The Iranian government continues supplying crude oil to Sri Lanka and the supply of oil has not been affected by the U.S. – EU sanctions in anyway”, he added.

Speaking at a meeting with a group of journalists at his residence in Colombo, Hassani pour stressed the need for stronger cooperation among the developing countries to strengthen their economies by changing trade relations with the West.

The Iranian envoy said that his country would resort to the barter system to import essential items from friendly countries, if they it find difficult in making payments. He said that the economy of his country is resilient with the purchase of oil and other products by friendly countries including Russia, China and India.

“We should thank China and India for not following the unilateral sanctions He said that the sanctions on Iran seems to be a blessing in disguise and it helps the country become self sufficient in all essential goods.

He said that Iran has recorded an economic growth of 6 – 7 per cent in the midst of sanctions, though they had created some difficulties. “We are in the process of minimizing the difficulties due to sanctions”, he said.

Iran making global economy Asia-centric - Tehran Times

 

[Alchemy]

When it comes to Iran's oil no amount of sanctions are going to work !

 

[illusion8]

Sri Lanka Supports Iran Nuclear Program Defying Sanctions
Sri Lanka's Minister of Power and Energy Champika Ranawaka bitterly criticized the West sanctions on Iran saying that the Islamic Republic has right to develop its peaceful nuclear program.

"Western countries have no right to impose sanctions on Iran on the basis of its nuclear programme. All countries should come forward to support Iran which is developing its nuclear programme for peaceful purposes", Daily News quoted Patali Champika Ranawaka as saying.
The statements were made during a meeting between Ranawaka and Iranian ambassador Hasanipoor at the Ministry office yesterday, according to the report.
The progress achieved by the 1000 electricity supply schemes launched under Iranian aid was discussed during this meeting.
Ranawaka thanked Iran for the assistance granted towards Sri Lanka's development effort over the years and said Western nations led by United States had been leveling false accusations against Iran's nuclear programme.
The west has targeted Iran's economy, he added.
The Iranian ambassador for his part hailed bilateral ties between the two countries.
He also assured that Iran would continue to invest in the development of the power sector in Sri Lanka.

 

[Lankan Ranger]

Sri Lanka may drop US dollar to meet Iran oil sanctions

Sri Lanka may avoid a costly squeeze by the United States sanctions on Iranian crude by purchasing it in a currency other than US dollars officials said on Sunday.

The Indian Ocean nation is facing the most potential collateral damage from the sanctions, which are meant to cut off the dollars Washington believes are being used to fund Iran's nuclear ambitions.

Sri Lanka imports 93 percent of its oil from Iran, OPEC's second biggest producer, and its sole refinery, the 50,000 barrel-per-day Sapugaskanda plant, can only refine Iranian crude and three or four others that are in short supply.

U.S. Deputy Assistant Secretary of the Treasury for Terrorist Financing, Luke Bronin, flew in for a one-day visit on Thursday to meet a host of government officials to explain the options available and the impact on Sri Lanka.

A senior government official directly involved in Sri Lanka's payments to Iran who met with Bronin said he offered a potential solution.

"I don't know whether it was deliberate or it was accidental, but he said they are only concerned about transactions done in dollars, so that was a hint to us," the official told Reuters on condition of anonymity.

Sri Lanka's central bank pays its Iranian counterpart on behalf of the Sri Lanka Petroleum Corporation through the Asian Clearing Union (ACU), a nine-nation trade clearing house set up in Tehran in 1974.

The ACU method would run afoul of the sanctions, which were signed into law on Dec. 31 and are due to take effect after a six-month deadline.

"The point is to try and choke some dollars off, so we want to know what the Sri Lankan government is going to do in terms of a workaround," a U.S. embassy official told Reuters on condition of anonymity. "At least they are trying, so that's good."

Bronin declined to speak to a Reuters reporter on Thursday. "He came to explain the act, the meaning of the act and what options are available to us," Foreign Secretary Karunaratne Amunugama told Reuters. "We are aware of the seriousness of the act, and government agencies are discussing what options we could take."

Sri Lanka has already said it was looking at buying crude from Oman and Saudi Arabia, both of whom can supply something the Sapugaskanda refinery can handle. The possibility of a waiver from the United States, which requires a demonstration of lessened ties with Iran, is also under consideration.

Sri Lanka may drop dollar to meet Iran oil sanctions - Economic Times

 

[Lankan Ranger]

Fars News Agency :: Iran's Oil Exports to India Up by 37.5% in January

 

[illusion8]

China begins to turn against Iran
Iran slipped further into global isolation on Thursday as China, its traditional ally, warned Tehran against its pursuit of nuclear weapons.

After a visit to the Gulf in which he met the leaders of the states most threatened by Iran's aggressive foreign policy, Wen Jiabao, the Chinese premier, issued Beijing's clearest condemnation yet .

"China adamantly opposes Iran developing and possessing nuclear weapons," he said.

China appears to have sent a message to Iran that it could not rely on Beijing's unstinting support by reducing its imports of oil at a time when the US and Europe are promoting an embargo on the country.

The Washington Post reported that China trimmed its oil imports from Iran in January from a daily average of around 550,000 barrels to 285,000 barrels a day.

Chinese foreign policy experts said the statement demonstrated that Beijing would not allow its international position to end up beholden to Iran.

China begins to turn against Iran - Telegraph

 

[venu309]

China begins to turn against Iran
Iran slipped further into global isolation on Thursday as China, its traditional ally, warned Tehran against its pursuit of nuclear weapons.

After a visit to the Gulf in which he met the leaders of the states most threatened by Iran's aggressive foreign policy, Wen Jiabao, the Chinese premier, issued Beijing's clearest condemnation yet .

"China adamantly opposes Iran developing and possessing nuclear weapons," he said.

China appears to have sent a message to Iran that it could not rely on Beijing's unstinting support by reducing its imports of oil at a time when the US and Europe are promoting an embargo on the country.

The Washington Post reported that China trimmed its oil imports from Iran in January from a daily average of around 550,000 barrels to 285,000 barrels a day.

Chinese foreign policy experts said the statement demonstrated that Beijing would not allow its international position to end up beholden to Iran.

China begins to turn against Iran - Telegraph

China may issue warnings just to please her main market the US/European & ME, but will not halt her oil imports from Iran.

 

[Lankan Ranger]

China begins to turn against Iran
Iran slipped further into global isolation on Thursday as China, its traditional ally, warned Tehran against its pursuit of nuclear weapons.
China begins to turn against Iran - Telegraph

China will buy Iran Oil, Always...

 

[pmukherjee]

China begins to turn against Iran
Iran slipped further into global isolation on Thursday as China, its traditional ally, warned Tehran against its pursuit of nuclear weapons.

After a visit to the Gulf in which he met the leaders of the states most threatened by Iran's aggressive foreign policy, Wen Jiabao, the Chinese premier, issued Beijing's clearest condemnation yet .

"China adamantly opposes Iran developing and possessing nuclear weapons," he said.

China appears to have sent a message to Iran that it could not rely on Beijing's unstinting support by reducing its imports of oil at a time when the US and Europe are promoting an embargo on the country.

The Washington Post reported that China trimmed its oil imports from Iran in January from a daily average of around 550,000 barrels to 285,000 barrels a day.

Chinese foreign policy experts said the statement demonstrated that Beijing would not allow its international position to end up beholden to Iran.

China begins to turn against Iran - Telegraph

Wrong title by the news agency. China has always opposed an Iranian nuclear weapons programme. No country in the world supports Iran's nuclear weapons programme. China has simply reiterated her stand, there is no change in policy. This statement in no way increases/decreases Iran's isolation. This is an example of idiotic journalism.

 

[kawaraj]

what about option using Yuan as the trading currency between Iran and Sri Lanka? could be an alternative against hassles from west sanctions.

 

[retaxis]

China also 'turned against' North Korea when they were developing nukes as well.

Whatever the Telegraph wants to say I couldn't care less

 

[pmukherjee]

what about option using Yuan as the trading currency between Iran and Sri Lanka? could be an alternative against hassles from west sanctions.

For that to be possible, SL has to have large reserves of Yuan to pay for the oil. Large reserves of Yuan will come to SL when SL exports goods of large volume to China. SL will also need Yuan to pay for Chinese imports. They can only pay in Yuan to Iran when they have adequate Yuan reserves to pay for their own imports. For that, SL needs to have a really very large volume of foreign trade with China and that trade should be in SL's favour so that money flows into the country. I think the payment methodology will be part barter and part credit.

 

[below_freezing]

For that to be possible, SL has to have large reserves of Yuan to pay for the oil. Large reserves of Yuan will come to SL when SL exports goods of large volume to China. SL will also need Yuan to pay for Chinese imports. They can only pay in Yuan to Iran when they have adequate Yuan reserves to pay for their own imports. For that, SL needs to have a really very large volume of foreign trade with China and that trade should be in SL's favour so that money flows into the country. I think the payment methodology will be part barter and part credit.

Its quite simple to set up currency swaps with both Iran and Sri Lanka. That way, we can increase our foreign reserves almost free of cost while promoting the RMB.

 

[kawaraj]

For that to be possible, SL has to have large reserves of Yuan to pay for the oil. Large reserves of Yuan will come to SL when SL exports goods of large volume to China. SL will also need Yuan to pay for Chinese imports. They can only pay in Yuan to Iran when they have adequate Yuan reserves to pay for their own imports. For that, SL needs to have a really very large volume of foreign trade with China and that trade should be in SL's favour so that money flows into the country. I think the payment methodology will be part barter and part credit.

that's quite easy if you know international trade or finance. China can provide Line of Credit at Central Bank level.

 

[Serpentine]

Wrong title by the news agency. China has always opposed an Iranian nuclear weapons programme. No country in the world supports Iran's nuclear weapons programme. China has simply reiterated her stand, there is no change in policy. This statement in no way increases/decreases Iran's isolation. This is an example of idiotic journalism.

Don't get it wrong.Iran doesn't have any weapons program that some want to oppose it or not.
Hitler says: when you repeat a lie more and more,after a while people will start believing it and accepting it as truth.