The vehicle is set to bypass American sanctions and tariffs, as well as normalize trade between the EU, Eurasia and China by abandoning trade in US dollars, potentially resetting the global economic order. Sputnik spoke to Pye Ian, Los Angeles-based senior economics analyst, private equity executive and commentator at Newsbud.com. Ian possesses a background in precious metals commodity trading and strategic planning. Sputnik: Is the European Union's Blocking Statue an effective mechanism for averting financial sanctions? Pye Ian: On the surface, the EU's "blocking statute" acts as a counter-measure to US sanctions on Iran, which threaten European businesses with legal actions based on noncompliance and appear to pose grave risks to EU firms seeking access to US markets and financial systems. The EU blocking statute has drawn the ire … [Read more...] about EU Blocking Statute, SPV Can Derail US Sanctions on Iran
Fact check iran nuclear deal
Since the beginning of this year the Iranian rial has, as economists say, "gone through the floor" – the currency has depreciated by nearly 70 percent against its benchmark. Most observers have described this as the effect of rising tensions in US-Iran relations, particularly the US’s withdrawal from the landmark 2015 Iran nuclear deal, known as the Joint Comprehensive Plan of Action. And in a surprising admission for Iranian politics, even Iran’s president, Hassan Rouhani, laid the blame for his country’s currency woes squarely at Donald Trump’s door during a recent parliamentary session (while also attempting to implicate his internal opponents). Somewhat ironically, this is perhaps the only issue on which Trump and Rouhani can find themselves in agreement. Trump, seconded by National Security Adviser John Bolton, has been more than happy to take full credit for the chaos in Iran, implying that his sanctions have left the Islamic … [Read more...] about It’s not just Trump’s fault that Iran’s currency is in meltdown
Daily Briefing Washington vs Brussels over Iran; a Spanish idea for migrants; strange bond spreads; and auditing firms playing musical chairs. Our daily briefing on this scorching August 7. Published on August 7, 2018 1:10 pm As of today, American sanctions against Iran are back in force. Pulling out of the Iran nuclear deal, however imperfect it may be, was a big mistake by Donald Trump. But the European co-signatories of the accord remain determined to save it, as Heiko Maas, Germany’s foreign minister, and his French, British and EU counterparts, averred yesterday. The big question is whether they can save it, given America’s huge economic clout. That’s because Trump also wants to slap “secondary sanctions” on European firms that keep doing business with Iran. In response, the Europeans have tightened laws to “block” these US measures against European companies. It’s the latest example of how our world has turned topsy-turvy, … [Read more...] about Germany braces for Trump’s secondary Iran sanctions
Washington's unilateral withdrawal from the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran nuclear deal, and the subsequent resumption of sanctions could complicate international trade with the Islamic Republic. Sputnik has surveyed 42 companies in Germany, Austria and Switzerland involved in trade with Iran, asking whether they would maintain cooperation with the Islamic Republic at the expense of their business activity in the US or yield to Washington's pressure. While the answers were different, all the companies demonstrated a cautious approach. The Swiss concern ABB, headquartered in Zurich, with a total turnover of about $33 billion in 2016 responded: © AP Photo / Eric VidalCaught in the Cross-Fire: US, Iran Give EU Two UltimatumsBASF, which turnover in 2017 mounted over 64 billion euros, was similarly circumspect: "BASF will analyze the situation. Basically, … [Read more...] about US Anti-Iran Sanctions Put EU Companies at Risk: What Do They Say?
Robert Farley Factcheck.org Published 5:24 p.m. UTC May 28, 2018 With gasoline prices rising, Sen. Chuck Schumer placed the blame on President Donald Trump, and specifically his decision to pull out of the Iran nuclear deal. But experts say that decision has had only a modest effect so far on rising prices at the pump. One expert estimated the impact of the Iran deal on gasoline prices at “maybe 3 to 5 cents per gallon.” Gasoline prices have been rising fairly steadily since late 2016 when OPEC decided to curb its oil production. Experts say that is the main driver of rising prices, though there are others outside Trump’s control as well. Schumer complained about the rising prices of gasoline at a May 23 press conference at an Exxon station in Washington, D.C., where a sign showed regular gas selling for $3.89 a gallon (the national average on May 21 was $2.92). The Democratic Senate leader blamed Trump for not doing more to … [Read more...] about Fact check: Who’s to blame for higher gas prices?