Majlis bans depositing Iran’s oil revenues with foreign banks

[understandinglife]

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.

[xultar]

1. They are getting ready.

[understandinglife]

2. Yep.

Peace.

[mod mom]

3. absolutely.

[mod mom]

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."

[understandinglife]

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.

[mod mom]

6. this is just unbelievable. Even though it was expected, it is very

scarey.