Monday, 24 September, 2018

'Cutting Iran's oil from market by November impossible'

Japan imported an average of 165,481 barrels per day of Iranian oil in fiscal 2017-18 Japan imported an average of 165,481 barrels per day of Iranian oil in fiscal 2017-18
Elsie Buchanan | 28 June, 2018, 04:13

Those demonstrations, which largely took place outside of Tehran in some 75 smaller cities and towns, were seen as the largest protests since 2009. "Without question, they should be reduced", the official said.

Indian and USA officials are now meeting for talks in New Delhi to try to resolve a growing trade dispute triggered by the Trump administration's decision to hit Indian steel and aluminum exports with new tariffs.India has promised to retaliate with tariffs on 29 U.S. products, starting August 4.

The country also banned imports on 1,300 products, including appliances, textiles, and healthcare in a move to resist USA sanctions.

Iran's President Hassan Rouhani accused the USA on Tuesday of waging an economic war against his country. The rial traded at 78,500 against the dollar in the unofficial market on Wednesday, according to foreign exchange website Bonbast.com.

The bazaar strike is the biggest sign of domestic disquiet in Iran since the United States abandoned a deal to lift economic sanctions in return for curbs to Tehran's nuclear program. At the end of 2017, it stood at 42,890. "But we will not sacrifice our independence", said Rouhani in an address broadcast on state television. Companies such as Reliance Industries, the conglomerate run by India's wealthiest man, made a decision to halt oil imports from Iran last month, Reuters reported.

Hundreds of merchants gathered in front of parliament in Tehran on Monday to protest at the rial's fall, witnesses said.

Iran eased its "resistance economy" policy after many worldwide sanctions were lifted in January 2016 under the nuclear deal.

Pete Davidson confirms engagement to Ariana Grande on Jimmy Fallon's Tonight Show
Pete continued, 'Some dude comes to me and is like, 'Yo dude, you gave me hope .' And I was like, I didn't know I was that ugly'. The video shows Grande's hand and her BFF Courtney Chipolone 's new matching tattoos that say, "H2GKMO".


Massive protests have erupted in Iran with in recent days as the country's economic crisis worsens, with many Iranians blaming the government's costly foreign interventions as the root of their economic ills.

He predicted Iran might ultimately enter a fresh recession as lower oil revenues prompted the government to put public sector projects on hold and as the economy became more militarized in response to USA pressure.

A senior Revolutionary Guards commander, meanwhile, on Wednesday that it was the responsibility of all Iranians to help the government overcome economic problems.

In the face of the public show of discontent, officials sought to reassure Iranians while President Hassan Rouhani dismissed the demonstrations as "foreign media propaganda", and accused the USA of waging a "psychological, economic and political war" on Iran.

"As always, America wants to break apart the power, glory of the Islamic Republic of Iran and grandeur of the system and the nation with a new method", Rouhani claimed, as he sought to reassure Iranians growing angry by the day over the regime's handling of the economy.

Concern about the rial's vulnerability is prompting ordinary Iranians to pour money into non-cash assets. "We condemn the government's same futile tactics of suppression, imprisonment of protestors, and the denial of Iranians' frustrations".

Oil prices surged more than 2.5 per cent in NY as traders digested the prospect of a much larger than expected loss of Iranian supply this winter.

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