BACKDOC: IS THERE ANY DOUBT NOW WHETHER IRAN WAS TELLING US THE TRUTH ABOUT THE 18TH? MMMMMM DOC IMO
Mountainman: Well SWIFT to My DO DA SWIFT......TODAY......My oh MY IRAN says........"WHAT A WONDERFUL DAY"!!!!!!!!.......Don't FORGET that SUNSHINE w/ GOLD........IMO......NOW C'mon ABADI/IRAQ.....Let's GO!!!!!!!
Blinkster: Oh what INCENTIVE for Iraq to git 'er done...expediently!
Thunderhawk: HUGE NEWS ALERT ALERT!!!!!!!!
CBI starts implementing SWIFT in banking transactions
Iran has started implementing SWIFT codes in its banking transactions since yesterday, a senior official said.
Deputy for foreign exchanges affairs for Central Bank of Iran Gholamali Kamyab told IRNA on Monday that though the CBI together with other Iranian banks had joined SWIFT two weeks ago, they were practically able to use it only yesterday.
He said the delay was due to time-consuming banking procedures.
He also noted that most of efforts to make SWIFT practical in Iran focused in software operations by the banks.
Noting that the issuance of Letter of Credit (LC) is being underway, Kamyab said the value of the LC cases to be issued depended on the volume of banking relations.
After the nuclear deal that led to the termination of sanctions, Iran gained access to around 100 billion euros of its assets that were frozen in countries around the world.
Since two weeks ago, the Iranian banks are back in the global banking business, able to use the worldwide transaction network SWIFT, the Belgian-based cooperative which handles cash transfers and letters of credit between financial institutions, the Parseed Iranian news website reported.
“Banks can now access SWIFT. We should note that our banks were subject to banking sanctions and needed to prepare the necessary infrastructure and they managed to do that by today,” said Mohsen Jalalpour, the head of Iran’s Chamber of Commerce, Industries, Mines and Agriculture.
Re-engaging with the banking throughout the world, the SWFT system is vital for Iran’s trade, particularly of crude oil.
A government spokesman said some of the 100 billion euros in formerly frozen assets will be brought back to Iran while the rest will be used to purchase goods to be imported.
While international banks are expected to link up with their Iranian counterparts via the SWIFT, Iran will also be looking to encourage foreign institutions to expand involvement in the country’s financial system.
However, foreign banks considering establishing a subsidiary in Iran will in most cases require a partnership with a local entity unless they set up in one of a handful of free zones, said Nicholas Gilani, senior partner at Arjan Capital, a consultancy advising on Iran business.
StrongCBM: I got in late...listened to the CC....
Frank mentioned that ITeam is guarding the LDs...He also stated that ITeam told him they think Feb....... He also stated the next move is on the CBI
The CBI won't move until the LDs move...IMO....The LDs will move when ITeam let them move....I'm gonna put my one coins on ITeam (Feb.)...
Frank also stated that things will be moving even faster...This article is about 3hr after the CC...NOW THAT'S FAST ! ! ! ....
THANKS YOU Frank, Delta, ITeam, WS, MM, Doc and Thunder... you guys make me feel I have a MS Degree in currency investments with all of this education we are getting from your hard work .... I'm forever Grateful ! ! !
Mountainman: AWESOME Find.........$600 BILLION in the Next 10 YEARS.......Head em Up MOVE em OUT......"SILK TIDE"......33% of IRAN's TRADE w/CHINA........"ONE Belt ONE Road".......Well Tighten that BELT UP/This ROUTE is on a "FAST TRACK".....It sure seems You Guys are Getting "A JUMP START" Here....Making SURE All is Well on these NEW AGREEMENTS eh.......VERY NICE!!!!!!......IMO
Thunderhawk: Iran welcomes arrival of first Silk Road train
President of Iranian Railways has welcomed arrival of the first cargo train in Iran from China.
Iran’s Deputy Minister for Transport, Roads and Urban Development and President of Iranian Railways Mohsen Pour Seyed Aghaei made the welcome remarks in a ceremony held to celebrate the arrival of a cargo train with the presence of China and Turkmenistan ambassadors.
Arrival of the first cargo train to Iranian capital, Tehran means revival of the Silk Road, he added.
If the cargo was transported via sea, it would take at least 30 days but it took less than two weeks through the Silk Road, the official said.
The first cargo train that left China almost a fortnight ago arrived in Tehran on Monday morning.
Iran’s media reported on Sunday that the train has already entered the country through the northeastern Sarakhs border point.
It is carrying 32 containers each with a capacity of 40 square feet and has passed through Kazakhstan and Turkmenistan before reaching Iran.
The train left China from the trading hub of Yiwu in the northwestern province of Xinjiang on 29 January. Its trip plan was to cover a distance of over 10,000 kilometers within 14 days.
This will be part of a Chinese initiative to revive the ancient Silk Road through which traders traveled from Europe to East Asia.
In 2013, Chinese President Xi Jinping introduced the new 'Silk Road Economic Belt and the 21st Maritime Silk Road' initiative to connect stronger logistics networks with Asia, Africa and Europe by building more roads, railways and airports.
Beijing has launched the Asian Infrastructure Investment Bank (AIIB) with $100 billion in capital and the New Silk Road Fund with a capital of $40 billion to fund major infrastructure projects in the region, including those pertaining to the development of the New Silk Road.
Iran is strategically-located in the Middle East, sharing land borders with 15 nations, and sea channels on its northern and southwestern coasts. China sees Iran as a country that can play a crucial role in China’s New Silk Road initiative given its access to extensive delivery routes connecting the Middle East and Eurasia.
Tehran has already pledged to support the New Silk Road initiative with an investment of $6 billion for the next six years, the Chinese media have reported.
BACKDOC: MAY THE COMPETITION BEGIN!
THE SILK ROAD IS NOW UNDERWAY! THE BUILD OUT OF TWO COMPETITIVE TRADING NETWORKS ARE NOW UNDERWAY!
DON'T UNDERESTIMATE THE EMPIRE COUNTRIES, THEY WILL LEAD THE WAY! DOC IMO
Thunderhawk: New Silk Road: Iran to Connect Europe, China by Train Route
Iran plans to provide a rail link between China and Europe under the New Silk Road project, President of the Islamic Republic of Iran Railways (RAI) Mohsen Pourseyyed Aghaei said Monday.
On January 23, Iranian President Hassan Rouhani and Chinese President Xi Jinping signed 17 cooperation agreements to strengthen bilateral ties, as the two countries set a goal of increasing bilateral trade to $600 billion in the next 10 years. One of the agreements reportedly covers the development and constructing of China's ambitious New Silk Road project.
"On the basis of defined plans, the Silk Road railroad will be linked to Europe which means the Port of Shanghai in China will be connected to Europe through Iran," Aghaei said at a ceremony to mark the arrival of the first Chinese cargo train to Tehran, as quoted by the Mehr news agency.
Iran would increase its transit volume to four million metric tons in the coming year, he added.
The same month, Iranian Ambassador to Russia Mehdi Sanaei said Iran was interested in introducing a free trade zone with the Eurasian Economic Union (EEU), a bloc comprising Russia, Kyrgyzstan, Armenia, Belarus, and Kazakhstan.
Mountainman: *NOTE*.......EUROPE has A "MAJOR" Need for OIL and so it is PARAMOUNT to have Good BUSINESS Relations w/ M.Eastern Countries like IRAN and Others....IMO.......BTW......Do You think the OLD "WIMPY" Phrase=....."I will Gladly PAY YOU/IRAN TUESDAY for A HAMBURGER TODAY" will Suffice ROUHANI???????? A CHANGE is a COMIN....IMO
Thunderhawk: Backdoc Alert
Iran Sends First Oil Shipment to Europe Since Sanctions End
Iran loaded its first cargo of oil to Europe since international sanctions ended, signaling more supplies will add to the global glut of crude.
A tanker for France’s Total SA was being loaded at Kharg Port while vessels chartered for Chinese and Spanish companies were due to arrive later Sunday, an Iranian oil ministry official said. A tanker hired by a Russian company hadn’t arrived, and was still expected, the official said. The official didn’t identify the companies that had hired the other three tankers and didn’t name the vessels. Total declined to comment.
Iran is trying to rebuild its oil production after sanctions were lifted in January, with plans to boost output and exports by 1 million barrels a day this year. Supply deals were signed with Totaland Hellenic Petroleum SA of Greece. Oil prices have dropped 11 percent this year, partly on anticipation of the increased supplies.
Iran is planning three initial shipments to Europe carrying 4 million barrels of oil with 2 million barrels going to Total and the rest to companies from Spain and Russia, Roknoddin Javadi, managing director of National Iranian Oil Co., said on Saturday, according to the Iranian oil ministry’s news service Shana.
Total, Spanish refiner Compania Espanola de Petroleos and Russia’s Lukoil PJSC all booked cargoes of Iranian crude to sail from Kharg Island to European ports, according to shipping reports compiled by Bloomberg earlier this month. The vessels included one very large crude carrier, a tanker capable of carrying 2 million barrels of crude, and two smaller Suezmax-sized vessels with capacity of about 1 million barrels each.
Total chartered the VLCC Atlantas, Spain’s Cepsa booked the Suezmax Monte Toledo and Lukoil’s trading unit Litasco booked the Distya Akula, according to fixture data compiled by Bloomberg. The Atlantas is scheduled to head for European ports, the Monte Toledo for Spain and the Distya Akula for Constantza, Romania, the data show. No one answered a phone call to Litasco’s office in Geneva on Sunday.
"The loading operation of the three tankers at Kharg terminals will be done within 48 hours,” Pirouz Mousavi, managing director of Iran Oil Terminals Co., told semi-official Mehr news agency on Sunday. The company hasn’t loaded tankers for Europe in four years because of sanctions, he said.
BACKDOC: IN MY OPINION THE MOVE TO REDUCE CASH IS ALREADY UNDERWAY!
THE EURO IS AN ACCIDENT WAITING TO HAPPEN. WITH BREXIT FEARS AND ATTACKS ON THE SCHENGEN AGREEMENT THE EUROZONE MAY REACH A BREAKING POINT.
THE ADDED EXCLUSION OF GREECE AND POSSIBLY SPAIN WITH THE CATALONIA REGION, THE EUROZONE IS IN DESPAIR. MANY FOLKS ARE BUYING GOLD DUE TO THEIR DISTRUST IN THE BANKNG SYSTEM!
AS I MENTIONED THE GBP IS UNDER DEVALUATION PRESSURE TO BE SURE. DOC IMO
Thunderhawk: ECB considers scrapping 500 euro note
The European Central Bank is examining ditching the 500-euro note, its president said on Monday, describing the note used by savers to hoard tens of billions of euros as an instrument also used by criminals.
Mario Draghi said savers would not be penalized and could use the 200 euro note instead to hold their cash.
"People will continue saving the 200 euro notes," Mario Draghi told lawmakers in the European Parliament, saying that governors were considering action.
"The 500 euro note is being viewed increasingly as an instrument for illegal activities," he said. "It has nothing to do with reducing cash."
The amount of cash in the euro zone rose to more than 1 trillion euros ($1.1 trillion) last year, with almost 30 percent of it hoarded in 500 euro notes, reflecting fears about banks as well as exasperation with low returns on savings.
European finance ministers called on the ECB on Friday to look at ways to tighten access to the notes as part of a move to cut funding of militant activity.
It is more than five times the value of the largest U.S. note - the $100 bill.
Germany was one of the early champions of the 500 euro note to match the value of its old 1,000 mark note and cater to Germans' traditional preference for cash over electronic money.
Cash hoarding has become more prominent throughout the years of crisis. Capital controls prohibit large withdrawals in Greece, where savers have hoarded tens of billions, after big depositors lost money in the country's financial bailout.
($1 = 0.8983 euros)
Mountainman: Oh C'mon EU.......You KNOW What's "COMING"......ABANDON SHIP.........ABANDON SHIP......."EVERY MAN for HIMSELF" !!!!!!!!........LOL......
The DRAMA is UNWINDING....IMO Blessings,Mountainman
Thunderhawk: Backdoc Alert
Britain says EU reform talks will 'go to the wire'
Britain's push to win backing from its European partners for its wish list of EU reforms will go "right to the wire" at a summit this week, Foreign Secretary Philip Hammond said on Sunday.
"There isn't a deal yet, there is a working draft, there are lots of moving parts and we have got a negotiation that will run through this week, and I have no doubt will run right to the wire," he told BBC television on Sunday.
Mountainman: Per the IMF/BIS........ALL Countries are "VALUED" Independently From EACH OTHER......."COVER Your OWN ASSETS" ........In OTHER WORDS!!!!!!!!
Hello ROCKET MAN/TIME TO FLY.....But NOT W/ SIR ELTON JOHN.......IMO
Thunderhawk: Backdoc Alert
Fears of Grexit Grow as IMF and EU Fall Out Over Bailout Program
Greek Prime Minister Alexis Tsipras has warned that disagreements between the European Union and the International Monetary Fund are hampering Athens' efforts to get to grips with the country's economy following the latest bailout.
Greece has been forced to implement a deeply unpopular set of austerity measures by its creditors — the European Central Bank (ECB) the International Monetary Fund (IMF) and the European Commission, known as the Troika — and is awaiting the latest assessment of its plans.
However, despite sending the Troika details of its latest pension reforms, Athens has heard nothing following disagreement between the EU and the IMF.
"Negotiations on the reform plan have fallen behind, which is in nobody's interest. To date we have had no official response from the institutions, which is due to disagreements at their heart," Tsipras said.
There have been disagreements within the Troika ever since Greece was offered a huge US$95 billion bailout loan over three years to prevent it from crashing out of the Eurozone.
The IMF did not take part in what has become known as the third Greek bailout. In its assessment, the IMF said: "Greece's public debt has become highly unsustainable. Greece's debt can now only be made sustainable through debt relief measures that go far beyond what Europe has been willing to consider so far".
The reforms demanded under the terms of the bailout include massive reforms of the Greek state pension scheme, which was seen as over-generous and unsustainable as well as the phasing out favorable tax treatments for ship-owners or farmers, or a myriad of exemptions, with some islands on low or even zero VAT rates.
Link to Part 2