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Majlis bans depositing Iran’s oil revenues with foreign banks

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understandinglife Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:29 PM
Original message
Majlis bans depositing Iran’s oil revenues with foreign banks
Majlis bans depositing Iran’s oil revenues with foreign banks

08/03/2006, IranOilGas.com

On 7.03.06 Iran’s parliament (Majlis) passed a ruling for the country’s budget of next year, wherein National Iranian Oil Company (NIOC) has been required to deposit 100% of the country’s crude oil export revenues with the national Treasury. Until now, the said revenues were allowed to be deposited with foreign banks.

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Link:
http://www.iranoilgas.com/news/details/?type=news&p=current&newsID=581&restrict=no


So much for the "freezing assets" lever.


Peace.
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xultar Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:31 PM
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1. They are getting ready.
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understandinglife Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:41 PM
Response to Reply #1
2. Yep.
Peace.
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mod mom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:51 PM
Response to Reply #1
3. absolutely.
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mod mom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:54 PM
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4. Wonder if that date of 3/21 is significant?
"for the upcoming Iranian year (starting Mar 21st), wherein NIOC would be obliged to deposit 94% of the total value of the entire crude oil to be produced in the country with the national Treasury and keep the remaining 6% as the company’s share."
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understandinglife Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 12:58 PM
Response to Reply #4
5. Yes, as I think that is the date the "bourse" begins. Some have ...
... indicated Mar. 10., but I've also seen reference to the transition to Euros being on Mar. 21.


Peace.
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mod mom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-08-06 01:01 PM
Response to Reply #5
6. this is just unbelievable. Even though it was expected, it is very
scarey.
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