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New Sanctions Imposed on Iran to Halt Gold Trading

 
Melanin-Man
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07/03/2013 05:54 AM
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New Sanctions Imposed on Iran to Halt Gold Trading
The first American sanctions on Iran since a moderate cleric won the presidential election there on June 14 went into effect on Monday, expanding the number of penalized industries and imposing rules that theoretically could halt all gold and currency trade by the country.

Proponents of the latest round of sanctions said they could deprive the Iranians of billions of dollars of income that had evaded earlier rounds — particularly with the new prohibition on gold trade. Bullion dealers in other countries who flout the prohibition risk severe American penalties, including expulsion from the United States precious metals market.

Iran has increasingly traded its oil and gas for gold with countries like Turkey because of earlier financial sanctions that have prevented the Iranians from using conventional bank payment methods. The Iranian authorities are then able to use the gold to buy dollars and euros needed to purchase other needed imports, or to support the faltering value of Iran’s own currency, the rial.

cont.
[link to www.nytimes.com]
Anonymous Coward
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07/03/2013 05:56 AM
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Re: New Sanctions Imposed on Iran to Halt Gold Trading
Iran has stuff Jews want. That's antisemitism!
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07/03/2013 06:01 AM
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Re: New Sanctions Imposed on Iran to Halt Gold Trading
The first American sanctions on Iran since a moderate cleric won the presidential election there on June 14 went into effect on Monday, expanding the number of penalized industries and imposing rules that theoretically could halt all gold and currency trade by the country.

Proponents of the latest round of sanctions said they could deprive the Iranians of billions of dollars of income that had evaded earlier rounds — particularly with the new prohibition on gold trade. Bullion dealers in other countries who flout the prohibition risk severe American penalties, including expulsion from the United States precious metals market.

Iran has increasingly traded its oil and gas for gold with countries like Turkey because of earlier financial sanctions that have prevented the Iranians from using conventional bank payment methods. The Iranian authorities are then able to use the gold to buy dollars and euros needed to purchase other needed imports, or to support the faltering value of Iran’s own currency, the rial.

cont.
[link to www.nytimes.com]
 Quoting: Melanin-Man


I will laugh when they shut down the Gulf and then mine the shit out of it. I will giggle when they shoot down the jets sent in to scare them.

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