Wed, Apr 16, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Currencies more

Iran faces tighter currency squeeze

Posted on 07 February 2013

Iran faces a fresh obstacle to turning its most lucrative export into cash as the U.S. tightens sanctions this week to keep importers from paying for the oil with dollars and euros.
Under penalty of expulsion from the U.S. banking system, Iranian crude customers such as China, Japan and India will be restricted to using their own currencies for the purchases, starting Wednesday. Importers will be compelled to keep the payments in escrow accounts that Iran can use only for locally sourced goods and services, in what will amount to barter arrangements………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 34604 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930