KTFA:
BACKDOC: SO JACK, DOES THAT MEAN YOU WILL SHOW US THE MONEY FLOW THEN?
Thunderhawk: Iranian oil tankers to be back to European ports
A senior industry official announced that Iranian oil tankers will resume activities in European ports next month.
The resumption of activities is happening after five years, Nasrollah Sardashti said.
Since one and a half year ago and before implementation of the Joint Comprehensive Plan of Action (JCPOA) on January 16, National Iranian Tanker Company (NITC) as the world's largest fleet of super tanker made endeavors to be prepared for restart of its activities in the European markets.
Iran has also set its activities in the Protection and Indemnity insurance, commonly known as P&I, which is insurance in respect of third party liabilities and expenses arising out of the ownership or operating of ships, he added.
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BACKDOC: SO JACK, DOES THAT MEAN YOU WILL SHOW US THE MONEY FLOW THEN?
Thunderhawk: Iranian oil tankers to be back to European ports
A senior industry official announced that Iranian oil tankers will resume activities in European ports next month.
The resumption of activities is happening after five years, Nasrollah Sardashti said.
Since one and a half year ago and before implementation of the Joint Comprehensive Plan of Action (JCPOA) on January 16, National Iranian Tanker Company (NITC) as the world's largest fleet of super tanker made endeavors to be prepared for restart of its activities in the European markets.
Iran has also set its activities in the Protection and Indemnity insurance, commonly known as P&I, which is insurance in respect of third party liabilities and expenses arising out of the ownership or operating of ships, he added.
....
In the sanctions era and despite restrictions, the Iranian oil tankers were present in the international markets and travelled to South Korea, China and some other certain countries.
He stressed that exports of Iran's oil has been doubled since removal of sanctions.
The official further said Iran has increased its capabilities in gas transport on the seas by having several VLGCs (Very Large Gas Carrier).
In sanctions era, international insurance companies did not insure the Iranian oil tankers, so the tankers were not able to go back and forth in all world ports, he said.
http://ift.tt/21WCZwI
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Mountainman: REMEMBER You {CANNOT} have A WEDDING w/Out The GROOM=IRAN......therefore IRAQ being the BRIDE, Requires the GROOM to Show UP Ready for the CEREMONY.....Thus the REASON for Everyone Running to IRAN on A Personal Interest Level and The NEED for {EVERYONE} to See (ALL) US BANKING Barriers Removed........
This Will CLEAR the FINAL Road Blocks that will FREE UP the Other GLOBAL Countries TRADE TRANSACTIONS thru [SWIFT] w/IRAN.......
We See The Inference that some things have been Done Technically Behind the Scenes.....But the PUBLIC Exposure is What is Needed at this Point w/ the US BANKS.....Until Then.......We Will See NO FINAL RESULTS w/IRAQ......
Keep in Mind.....Yes The IMF said they will Finish w/IRAQ this Month.....So I EXPECT Something MAJOR to REVEAL Itself w/the U S A BANKING Road Blocks.....And IRAN.....This is THE KEYS to An INTERNATIONAL WEDDING of GREAT VALUE.......So to Speak.......For that was The DEAL Made w/IRAN/IRAQ.....IMO
Blessings,Mountainman (8)=New Beginnings.......for IRAN,IRAQ,and U S A BANKS.......
Thunderhawk: Dutch official urges EU to press US over removal of anti-Iran trade barriers
Sales manager of a Dutch firm has said that the European Union should press the US to remove barriers on trade with Iran.
Talking to IRNA on Wednesday, Vincent Ruiz from Avion Training said that the US is creating obstacles on trade with Iran by maintaining sanctions.
He said convergence of efforts by all will create a big force which could push the US to adopt a logical manner.
Ruiz who is in Iran as part of a delegation also said that such a move will result in normalization of world’s trade relations with Iran.
Noting that the EU has already taken remarkable steps towards having the sanctions removed, he stressed the inclination of all European countries for having normal business with Iran.
The Dutch official further described his company as among the best in Europe which offers trainings to aviation industries in about 167 countries worldwide.
Given the good process of talks with Iranian companies, he said he was optimistic about the future of cooperation with Iran in aviation sectors.
The Dutch delegation which includes representatives from about 40 companies active in foodstuff, agriculture, machinery, transportation and logistics arrived in Iran on Sunday to hold talks with Iranian trade and business people on trade interactions.
It is led by Dutch Minister of Economy, Energy and Agriculture Henk Kamp who also believes that companies of both countries are keen to expand cooperation.
He is also in favor of regulating banking ties to help boost trade ties.
Kamp visited the 21st International Oil, Gas Exhibition in Tehran which concluded on Sunday evening.
http://ift.tt/1USIUlf
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Thunderhawk: IDB 41st annual meeting to be held within days
He stressed that exports of Iran's oil has been doubled since removal of sanctions.
The official further said Iran has increased its capabilities in gas transport on the seas by having several VLGCs (Very Large Gas Carrier).
In sanctions era, international insurance companies did not insure the Iranian oil tankers, so the tankers were not able to go back and forth in all world ports, he said.
http://ift.tt/21WCZwI
************
Mountainman: REMEMBER You {CANNOT} have A WEDDING w/Out The GROOM=IRAN......therefore IRAQ being the BRIDE, Requires the GROOM to Show UP Ready for the CEREMONY.....Thus the REASON for Everyone Running to IRAN on A Personal Interest Level and The NEED for {EVERYONE} to See (ALL) US BANKING Barriers Removed........
This Will CLEAR the FINAL Road Blocks that will FREE UP the Other GLOBAL Countries TRADE TRANSACTIONS thru [SWIFT] w/IRAN.......
We See The Inference that some things have been Done Technically Behind the Scenes.....But the PUBLIC Exposure is What is Needed at this Point w/ the US BANKS.....Until Then.......We Will See NO FINAL RESULTS w/IRAQ......
Keep in Mind.....Yes The IMF said they will Finish w/IRAQ this Month.....So I EXPECT Something MAJOR to REVEAL Itself w/the U S A BANKING Road Blocks.....And IRAN.....This is THE KEYS to An INTERNATIONAL WEDDING of GREAT VALUE.......So to Speak.......For that was The DEAL Made w/IRAN/IRAQ.....IMO
Blessings,Mountainman (8)=New Beginnings.......for IRAN,IRAQ,and U S A BANKS.......
Thunderhawk: Dutch official urges EU to press US over removal of anti-Iran trade barriers
Sales manager of a Dutch firm has said that the European Union should press the US to remove barriers on trade with Iran.
Talking to IRNA on Wednesday, Vincent Ruiz from Avion Training said that the US is creating obstacles on trade with Iran by maintaining sanctions.
He said convergence of efforts by all will create a big force which could push the US to adopt a logical manner.
Ruiz who is in Iran as part of a delegation also said that such a move will result in normalization of world’s trade relations with Iran.
Noting that the EU has already taken remarkable steps towards having the sanctions removed, he stressed the inclination of all European countries for having normal business with Iran.
The Dutch official further described his company as among the best in Europe which offers trainings to aviation industries in about 167 countries worldwide.
Given the good process of talks with Iranian companies, he said he was optimistic about the future of cooperation with Iran in aviation sectors.
The Dutch delegation which includes representatives from about 40 companies active in foodstuff, agriculture, machinery, transportation and logistics arrived in Iran on Sunday to hold talks with Iranian trade and business people on trade interactions.
It is led by Dutch Minister of Economy, Energy and Agriculture Henk Kamp who also believes that companies of both countries are keen to expand cooperation.
He is also in favor of regulating banking ties to help boost trade ties.
Kamp visited the 21st International Oil, Gas Exhibition in Tehran which concluded on Sunday evening.
http://ift.tt/1USIUlf
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Thunderhawk: IDB 41st annual meeting to be held within days
41st annual meeting of the Islamic Development Bank (IDB) Group Board of Governors is to be held in Jakarta, Indonesia.
Iran's Minister of Economic Affairs and Finance Ali Tayebnia, heading a delegation, is to participate in the event. Iran is IDB's third main shareholder.
Fifty-six countries participate in annual meeting of the IDB Group which is held on May 15-19.
The event aims at investigating increase in economic growth and poverty reduction by developing infrastructures.
IDB heads, economy ministers, policy makers and senior leaders in monetary and international and regional financial institutions will take part in this event.
A five-day exhibition will be held on the sidelines of the event to display innovations and members' solutions in health and education fields to reinforce development of the member countries.
http://ift.tt/1USIVWr
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Thunderhawk: EU Banks Free to Engage in Commerce With Iran Under Nuclear Deal - Kerry
European banks are permitted under the terms of the Iran nuclear deal to engage in transactions with Tehran, US Secretary of State John Kerry said on Tuesday.
Reports have indicated that European banks are hesitant to do business with Iran for fear of violating US and international sanctions. Kerry on Tuesday said those fears are misplaced and the United States is "prepared to clarify it for anybody."
"The banks in Europe are free to lend, to back a deal, to open an account for Iran [and] to engage in commerce," Kerry stated in an interview with CNN.
In July, Iran and six world powers, including the United States and Russia, signed the Joint Comprehensive Plan of Action (JCPOA) agreement whereby Tehran agreed to dismantle aspects of its nuclear program to ensure it would not be used to make a nuclear weapon.
Kerry stressed that Iran has upheld its end of the agreement and has a right to benefit from the JCPOA.
http://ift.tt/21WD0Rb
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Thunderhawk: Stuck with dangerous dollar dominance
Iran's Minister of Economic Affairs and Finance Ali Tayebnia, heading a delegation, is to participate in the event. Iran is IDB's third main shareholder.
Fifty-six countries participate in annual meeting of the IDB Group which is held on May 15-19.
The event aims at investigating increase in economic growth and poverty reduction by developing infrastructures.
IDB heads, economy ministers, policy makers and senior leaders in monetary and international and regional financial institutions will take part in this event.
A five-day exhibition will be held on the sidelines of the event to display innovations and members' solutions in health and education fields to reinforce development of the member countries.
http://ift.tt/1USIVWr
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Thunderhawk: EU Banks Free to Engage in Commerce With Iran Under Nuclear Deal - Kerry
European banks are permitted under the terms of the Iran nuclear deal to engage in transactions with Tehran, US Secretary of State John Kerry said on Tuesday.
Reports have indicated that European banks are hesitant to do business with Iran for fear of violating US and international sanctions. Kerry on Tuesday said those fears are misplaced and the United States is "prepared to clarify it for anybody."
"The banks in Europe are free to lend, to back a deal, to open an account for Iran [and] to engage in commerce," Kerry stated in an interview with CNN.
In July, Iran and six world powers, including the United States and Russia, signed the Joint Comprehensive Plan of Action (JCPOA) agreement whereby Tehran agreed to dismantle aspects of its nuclear program to ensure it would not be used to make a nuclear weapon.
Kerry stressed that Iran has upheld its end of the agreement and has a right to benefit from the JCPOA.
http://ift.tt/21WD0Rb
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Thunderhawk: Stuck with dangerous dollar dominance
The world is getting an object lesson on the problems of having one dominant global currency and even the supposed prime beneficiary, the United States, can see the downside.
Alarming bouts of volatility in world financial markets over the past 12 months have been rooted in a fear of what happens when a world with its highest-ever peacetime debt pile faces even a hint of higher interest rates.
Despite a constant narrative about U.S. households and banks paying down debts ever since the global credit crash eight years ago, any 'deleveraging' that did happen was more than offset by higher government, corporate and personal debt around the globe in Europe, China and across emerging markets.
In fact, aggregate world debt is now far higher than it was before the 2007-08 crash.
"The saga of debt is far from over," says a report from Morgan Stanley. It goes on to explain why Morgan Stanley expects demographic-led shifts in savings and investment to soon push interest rates higher and transform that debt mountain into additional deadweight on world growth over next five years.
But the role of the U.S. dollar as the world's main reserve currency denominating large chunks of that debt pile is showing up as complicating factor that's added to risk of instability.
The first U.S. interest rate increase in almost a decade in December - just a quarter of a percentage point - was enough to trigger a convulsion in world markets that led to the worst start to a year for global stocks since World War Two.
Underlining 'cause and effect', the subsequent recovery only came about once the Federal Reserve hastily made clear it was pressing the pause button precisely because of seismic events in world finance.
Few doubt a growing U.S. economy that's near full employment can absorb some normalization of interest rates from near zero, and a higher dollar goes hand in hand with that.
But the rest of the world clearly can't.
The Bank for International Settlements estimates that while U.S. dollar dominance means it accounts for almost 90 percent of all foreign exchange transactions and some 60 percent of hard currency reserves. But crucially it also accounts for about 60 percent of all debts and assets outside the United States.
And if the rest of the world goes into shock because of the higher cost of servicing and paying back those dollar debts, the boomerang effect on U.S. exporters, commodity firms and the wider economy just ends up tying the Fed's hands in ways made crystal clear this year already.
AMBIVALENCE
No surprise, then, the U.S. central bank has no deep love for the dollar's prime reserve currency status - even though it's been described by Europeans and others over the years as an "exorbitant privilege" that ensures the world lends to the U.S. Treasury in its own currency at low interest rates regardless of dollar strength.
Speaking at an event in Zurich on Tuesday on the dollar's global status, New York Fed chief Bill Dudley said Americans should not be perturbed if other currencies such as the euro or China's yuan eventually eat into the dollar's share of reserves.
"If other countries' currencies emerge to gain stature as reserve currencies, it is not obvious to me that the United States loses," he said, as long as it "is being driven by their progress, rather than by the U.S. doing a poorer job."
While that's far from wishing away dollar hegemony, it speaks to the greater ambivalence among central bankers toward reserve status than their national treasury chiefs - given how widespread use of the currency can compromise domestic policy.
It's that tension that risks sowing instability everywhere.
If the Fed can't adjust monetary policy because of fears of transmitting a self-defeating shockwave around the world via the dollar, then there's understandable concern that artificially low Fed policy just stores up even more debt and international accounting imbalances and undermines the very currency that's supposed to play anchor.
At the same event in Zurich, Claudio Borio, head of the monetary and economic Department of the BIS, said the dollar's role could potentially exacerbate instability by allowing the United States to run larger and more persistent fiscal and current account deficits - and to run looser monetary policy for longer.
What's more, a resulting Fed easing bias spreads to developed and emerging economies as governments resist a weaker dollar for competitiveness or financial stability reasons, Borio added.
"Easing begets easing," he said.
For Morgan Stanley, this is just leads to ever-higher debt, and there are no painless ways out of a problem that will start to hurt significantly over the coming years - only a series of "less painful" options including the option of consolidating debts and making them permanent or perpetual.
In the meantime, the U.S. bank said, the dollar itself will most likely push higher again, if only because the U.S. economy is probably the only one that can absorb a rising exchange rate in this environment.
For Borio, a more 'pluralistic' system with many world currencies sharing the reserve role doesn't by itself solve any problem, either. There would then be no credible single anchor.
Hard-headed cooperation and joint decision making may be the only answer.
"This means not just putting one's house in order, but also putting our global village in order."
http://ift.tt/24MROqK
Thunderhawk: Iran's SWIFT problems settled: Senior banking official
A senior banking official said in this holy city in central Iran that SWIFT problems have been settled between the Iranian and foreign banks, it was announced on Wednesday.
Chairman of the Coordination Council of state-owned banks Abdolnaser Hemmati made the remarks in a press conference after his meeting with senior Iranian clerics in Qom.
Hemmati said the banking communication and interactions are on the rise day-by-day.
'The infrastructures have been prepared for creating relations between the domestic and foreign banks,' he added.
'Thanks to the implementation of the Joint Comprehensive Plan of Action (JCPOA), the relations with the foreign banks are being corrected and there is no basic problem in interaction with the global banks,' Hemmati said.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) banking system is the global provider of secure financial messaging services.
Last month, international affairs' director at Central Bank of Iran (CBI) Hossein Yaqoubi said Iran has established 300 banking relations with foreign banks since anti-Iran sanctions were lifted in January.
Under sanctions, Iran's banking relations were so limited and had not been counted up even to ten, he said.
The text of JCPOA between Iran and the six world powers has focused on use of some tools like SWIFT when all international banking activities had been done, he added.
http://ift.tt/21WCZN5
A senior banking official said in this holy city in central Iran that SWIFT problems have been settled between the Iranian and foreign banks, it was announced on Wednesday.
Chairman of the Coordination Council of state-owned banks Abdolnaser Hemmati made the remarks in a press conference after his meeting with senior Iranian clerics in Qom.
Hemmati said the banking communication and interactions are on the rise day-by-day.
'The infrastructures have been prepared for creating relations between the domestic and foreign banks,' he added.
'Thanks to the implementation of the Joint Comprehensive Plan of Action (JCPOA), the relations with the foreign banks are being corrected and there is no basic problem in interaction with the global banks,' Hemmati said.
SWIFT (Society for Worldwide Interbank Financial Telecommunication) banking system is the global provider of secure financial messaging services.
Last month, international affairs' director at Central Bank of Iran (CBI) Hossein Yaqoubi said Iran has established 300 banking relations with foreign banks since anti-Iran sanctions were lifted in January.
Under sanctions, Iran's banking relations were so limited and had not been counted up even to ten, he said.
The text of JCPOA between Iran and the six world powers has focused on use of some tools like SWIFT when all international banking activities had been done, he added.
http://ift.tt/21WCZN5
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