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Iran Prepares for Sanctions (moved from ATSNN)

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posted on Jan, 20 2006 @ 09:20 AM
The Iranian government said that it has begun preparing for the possibility of UN Security Council sanctions being levied against it in the midst of a row with the West over its nuclear program. Iranian officials indicate the country is now withdrawing assets from European banks and going forward with a proposal to cut petroleum production for OPEC, a move that could put further pressure on the price of oil. It's unclear how effective these actions would be as most nations Iran could deposit its assets in are expected to respect any UNSC resolution passed against it.

today.reuters. com
TEHRAN (Reuters) - Embroiled in a nuclear standoff with the West, Iran said on Friday it was moving its foreign assets to shield them from possible U.N. sanctions, and flexed its oil muscles with a proposal to cut OPEC output.

"Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad," said a senior Iranian official, who asked not to be named.

Central Bank Governor Ebrahim Sheibani was quoted earlier as saying Tehran had started shifting funds, but he sidestepped a question on whether the assets would go to accounts in Asia.

It is far from clear how placing assets in Asia or anywhere abroad would protect them from being frozen as few governments or major banks would be willing to flout U.N. sanctions openly.

Please visit the link provided for the complete story.

It looks like Iran is starting to get a bit worried. I just hope the West keeps a united front, it could end in a good result in the unravelilng of the current Iranian theocratic regime. Some more temporary pain at the pump, probably the only thing Iran could cause, would be worth ridding the world of this menace.

[edit on 1/20/2006 by djohnsto77]

posted on Jan, 20 2006 @ 11:21 AM
all i have to say go Iran
even so its doutfull they will be sanctioned since Russia is starting to have doubts and they China on another so high hopes those to will santion anything that is thrown at Iran

its a good move by Iran remving most of its assests just in case
keeping the damage to a minimum

posted on Jan, 20 2006 @ 11:24 AM
Hey bodrul, are there guarantees that the monies would be safe? Is it possble that America is preparing to take those monies, since the monies is transferred electronically?
It just play right into America's hands.

posted on Jan, 20 2006 @ 11:36 AM
if its a straight transfer then it should be safe and if money should be lost or stolen banks are insured for that (unless international banks work diffrent)

posted on Jan, 20 2006 @ 11:55 AM
It's true that Russia and China are against sanctions, and are permanent members of the SC, but that doesn't mean large-scale sanctions won't occur. Maybe it's time for another 'coalition of the willing'. Maybe there are other ways to do things world-wide without involving the UN. This becomes more likely when more countries suffer economically.

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