Author Topic: Governor: CBI Starts Asymmetric Economic War against Sanctions (Read 563 times)

Ich · « **on:** July 31, 2012, 10:11:57 PM »

Quote

TEHRAN (FNA)- Governor of the Central Bank of Iran Mahmoud Bahmani announced that the CBI has set up a headquarters for asymmetric economic war against enemies' financial plots, including the sanctions.

"If we want to use the normal rules to deal with the sanctions, we will definitely be faced with problems, therefore, like military wars that we have a series of asymmetric tactics, we should start a series of asymmetric economic wars under these sanctions since these embargos are no less than a military war," Bahmani told reporters in Tehran today.

"We have started these asymmetric wars and hold meetings seven days a week and have set up a headquarters in the CBI to this end," he added.

The United States imposed additional sanctions against Iran's financial sector in late December.

US President Barack Obama authorized a law on New Year's Eve imposing fresh sanctions on financial institutions that deal with the Central Bank of Iran, Tehran's main clearing house for oil payments. The US has also persuaded the European countries to impose the same embargos against the CBI.

The extra US sanctions aim to squeeze Iran's oil sales, most of which are processed by the CBI, although many even in the West believe that the move would prove futile.

During the last two years, Iran has been replacing dollar with other currencies in its trade with the outside world.

Iran has replaced dollar in its oil trade with India, China, Russia and Japan. Late in November, the Reserve Bank of India (RBI) issued the needed permission to the Central Bank of Iran to open rupee accounts with two Indian banks, namely UCO and IDBI, as a long-lasting solution to the two countries' payment problems.

Both accounts were opened in the respective banks' Mumbai branches.

A top official of city-based UCO Bank said while payments for his country's oil imports would initially be in rupees, it would be then converted into a separate currency, which was yet to be decided by the apex bank.

Russia, opposing oil sanctions against Iran, has long promoted the ruble as an international currency which could be used in bilateral settlements.

In 2010 Moscow began offering to exchange ruble for Chinese Yuan as the two nations look to boost bilateral transactions in their own currencies and reduce their reliance on the dollar.

Tehran and Moscow announced in January that they have started using their own currencies (Rial and Ruble) instead of the US dollar in their bilateral trade exchanges.

http://english.farsnews.com/newstext.php?nn=9104252239

Who needs a dollar?

rouz · « **Reply #1 on:** July 31, 2012, 11:09:57 PM »

I see nothing new in this. It may be better than not resisting at all, but it is hardly a bold move by any standards. Iran should develop economic models proactively working for it, rather than always and for ever only acting in retaliation to shocks from abroad. In essence this is only damage control.

...but, of course, if a banker is expected to reform the banking sector one can hardly expect any real changes.

Ich · « **Reply #2 on:** August 01, 2012, 09:01:48 AM »

Sure, the CBI cant change the world banking system and me think they wount it anyway. But in some areas of the world Iran can help to lower the worth of some western currencies by prefer alternatives. This action is also done by many asian and southamerican countries. And so in the long run the world trade could be freed from the dollar-slavery and so the western sanctions lose their power.

kaman · « **Reply #3 on:** August 01, 2012, 10:46:05 AM »

The kind of world order they wanted to impose is imploding so I wonder if these sanctions are really to be considered as sanctions!
Many non alined countries start pulling back from this fake economy and we will see the impacts on the meduim term.
They have to rather view this as n opportunity and as Rouz said above, they have to emphasize on an new economic model integrating the long term. This would include bold R&D and industrial plans and the involvement of local investors. I also see a certain economic protectionism but on the other hand the boost of local competition. This is how South Korea boosted its economy in the late 60s. I would also mention that Argentina has adopted a rather nationalistic approach in order to rebuild its industry. The fight against corruption and inequities will be a major challenge.

reza18 · « **Reply #4 on:** August 01, 2012, 09:54:42 PM »

Better late than never..This is a good step..But the funny thing is, this latest round of sanctions were aimed at China..The US sanctioned a Chinese bank for doing business with Iran..Anybody see where this is going?

The other part of the sanctions was to tighten existing sanctions..So it's sort of like sanctions on sanctions..lol..This is Obama's pathetic attempt at pleasing his Zionist bankers to lend him more money after Romnney got a thumbs-up in his recent trip to Hell-Aviv ..Adelson, that wealthy Jewish billionaire is betting on Romney to deliver the goods..Obama, sensing danger, is ramping up the anti-Iran stunt to get more support..The guy's served his usefulness..I bet Romney will win the next elections..This is good news because the guy's far more stupid than Bush was..He'll speed up the collapse of the state..

kaman · « **Reply #5 on:** August 01, 2012, 10:57:07 PM »

Quote from: reza18 on August 01, 2012, 09:54:42 PM

Better late than never..This is a good step..But the funny thing is, this latest round of sanctions were aimed at China..The US sanctioned a Chinese bank for doing business with Iran..Anybody see where this is going?

China has reaacted. also listen to Poutine's latest speech...


Putin July 2012, Amazing Speech