Category: Iran

  • Turkey’s exports to Iran reach $8.5b in 8 months

    Turkey’s exports to Iran reach $8.5b in 8 months

    Turkey’s exports to Iran for the first eight months of 2012 totaled $8.5 billion, Turkish central bank governor has said.

    Erdem Basci told the Financial Times that the income was due to large-scale Iranian purchases of gold. This level of exports to Iran is widely considered unsustainable due to U.S. misgivings and limits in Turkey’s stock of gold.

    However, in August Turkey’s gold exports switched sharply to the UAE, with almost $2 billion in sales, making the country Turkey’s leading export destination for the month – a more than eightfold increase on the month before.

    Basci said his expectations about Turkey’s growing trade with the Middle East excluded gold sales.

    His remarks also signal Ankara’s growing confidence in its own economic management, after the country managed to bring growth down from unsustainable levels without a recession.

    “We have shown the first successful example of doing that in Turkish history,” he said.

    As a result, he said, Turkey’s $800 billion economy was a different case from other emerging markets, which have slowed in recent months.

    He added that the extraordinary global liquidity unleashed to deal with the financial crisis enabled the country to run a current account deficit of 7 percent of GDP, although its longer term goal was to reduce the level to 5 percent.

    He also emphasized his goal of bringing inflation down to 5 percent, compared to about 9 percent now, which he said would allow long term domestic capital markets to develop and diminish Turkish companies’ reliance on foreign lenders.

    However, at a meeting on Wednesday launching the central bank’s inflation report, several analysts questioned the bank’s ability to reach its inflation goals in a growing economy.

    In a note titled “Wishful thinking or what?”, Burcu Unuvar of Is Investment noted that the bank on Wednesday revised its inflation expectation this year to 7.4 percent, up from 6.2 percent, owing to higher than expected energy prices, while it forecast only a “mild recovery” in domestic demand for the last quarter of the year.

    She described the bank as “aggressively hopeful” in its inflation and growth expectations for next year.

    (Source: Financial Times)

    via Turkey’s exports to Iran reach $8.5b in 8 months – Tehran Times.

  • Iran Buys Gold From Turkey

    Iran Buys Gold From Turkey

    Council

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    It appears that some inside Turkey and Iran are trying to hide a multibillion dollar gold trade between to the two states, according to an exclusive report from Reuters.

    Apparently, gold traders have been flying the bullion from Turkey to Dubai in their hand luggage and then trading it on to Iran.

    Most of the gold has been legally declared in customs. In August, Turkey exported $1.9 billion to the UAE, according to a Reuters analysis of the latest data available from Turkey’s Statistics Office. In July that figure was just $7 million. It is not clear how much of that gold reaches Iran, but experts in Dubai told Reuters they did not notice any “sudden increase” in gold supply in August and they believe almost all went to Tehran.

    Turkey’s gold exports to Tehran, which had been “fluctuating between $1.2 billion and about $1.8 billion each month since April,” plummeted to $180 million in August.

    Iran appears to be using this method to hide its import of gold from Turkish traders. Sanctions against Iran, mostly stemming from its nuclear ambitions, have isolated it from the global banking industry and have crippled the economy and the value of the Rial. Iranians can use gold, instead of its rapidly declining currency, as a means to transfer their wealth and participate in certain international banking activities that would be prohibited under current sanctions on Iran.

    While the trade does not violate sanctions, the Iranians might want to keep the situation under wraps in order avoid attracting the attention from watchful eyes, especially those of the United States and the United Nations. If gold is added to the sanctions list, it would take away key tool which Iran is using to manage its finances.

    via Iran Buys Gold From Turkey – Business Insider.

  • Should Turkey be included in the P5+1?

    Should Turkey be included in the P5+1?

    The Arms Control Association’s Kelsey Davenport summarizes a case made by a Turkish professor of international relations for Turkey to be included in the p5+1 (the five permanent members of the UN Security Council plus Germany):

    Despite the failure of the Tehran Declaration, Turkey’s experience negotiating with Iran lends strength to [Mustafa] Kibaroglu’s argument for Turkey’s inclusion. Ankara demonstrated it can work with Tehran. Additionally, in June 2010 Turkey was one of two countries that voted against UN Security Council Resolution 1929, which imposed sanctions on Iran for failing to comply with early resolutions regarding its nuclear program. Given the animosity spurred on by the current sanctions, Iran may be more willing to work with Turkey than the members of the P5+1.

    In addition, Kibaroglu reminds us that Israel is not the only Middle Eastern country that would be threatened by Iran obtaining nuclear weapons and that other regional perspectives on the security environment need to be considered. According to him, a nuclear armed Iran would be the “game changer” that affects the relationship between the two countries and tips the balance of power in Iran’s favor.

    While Turkish inclusion in the P5+1 may not be the creative solution that revives the negotiations with Iran, Kibaroglu’s recommendations serve as an important reminder that there is no “one size fits all” formula for diplomatic negotiations. If the current P5+1 track does not achieve a breakthrough, it does not mean that negotiations have failed. Rather, that it is time for diplomats to get creative and consider alternative options, such as exploiting the good offices of new parties, to find a solution to the Iranian nuclear question.

    For assessing how Iran may respond to Turkey’s inclusion in the P5+1, read Iran expert Farideh Farhi’s recent analysis of Iran-Turkey relations.

    via Should Turkey be included in the P5+1? « LobeLog.com.

  • Iran to Give up 20 pct Uranium Enrichment if West Lifts Sanctions

    Iran to Give up 20 pct Uranium Enrichment if West Lifts Sanctions

    Iran’s permanent representative to the International Atomic Energy Agency (IAEA) Ali Asghar Soltanieh said Iran has offered to stop enriching uranium to a purity level of 20 percent if the West lifts sanctions against Tehran, semi- official Mehr news agency reported Wednesday.

    Soltanieh said that the offer was made in a meeting between Iran’s chief nuclear negotiator Saeed Jalili and European Union foreign policy chief Catherine Ashton in Istanbul earlier this month.

    “We are prepared to suspend enrichment to 20 percent, provided that we find a reciprocal step compatible with it,” Soltanieh was quoted as saying.

    “We said this in Istanbul,” he said, adding that “If we do that, there shouldn’t be sanctions.”

    On Sept. 18, Ashton met with Iranian officials in Istanbul in a bid to end the standoff over the Iranian nuclear program. Jalili said the two sides were satisfied with what they had agreed during the talks.

    On Wednesday, Commander of the Islamic Revolution Guards Corps Major General Mohammad-Ali Jafari said the Iranian enemies have resorted to economic sanctions and pressures since they have realized that they cannot engage in direct confrontation with the Islamic republic, semi-official Fars news agency reported.

    Jafari said the enemies have found out that their actions against Iran have backfired and the Islamic revolution has been exported to the world nations against their will.

    The Israelis still continue their threats, but at the same time they have realized that they cannot fight the Islamic revolution through a direct battle, Jafari said, adding that, for that reason they have resorted to exaggerating the social problems of our country and the Islamic ruling system.

    “Today, the world has found out that threatening the Islamic revolution is futile, yet those who are less wise and rational have still resorted to other methods such as different sanctions and political threats,” Jafari was quoted as saying.

    Also, Iran’s President Mahmoud Ahmadinejad said that the imposition of sanctions by the global hegemony indicates its weakness in dealing with independent nations, Press TV reported on Wednesday.

    “Sanctions and the exertion of pressure by the global arrogance and bullying powers against independent nations are not indicative of a position of power but rather the weakness of these countries in dealing with the logic of the independent states,” Ahmadinejad was quoted as saying in a meeting with his Bolivian counterpart Evo Morales on the sidelines of the 67th UN General Assembly.

    “The enemies of the independent nations know better than anyone else that these pressures and sanctions will lead nowhere,” he added.

    China on Wednesday reiterated its opposition to sanctions on Iran over Tehran’s controversial nuclear program.

    “The Chinese side has long been opposed to any unilateral sanctions on Iran,” said Chinese Foreign Ministry spokesman Hong Lei.

    He added that sanctions cannot ultimately help to resolve the Iranian nuclear issue, but will only further worsen and escalate the issue, “which will do no good in regional peace and stability. ”

    All sides concerned should increase dialogues and boost cooperation to seek an appropriate solution to the issue through negotiations, said the spokesman.

    On Wednesday, Iranian deputy nuclear negotiator Ali Baqeri said that Iran insists on its “nuclear rights,” semi-official ISNA news agency reported.

    The Islamic republic persists the total vindication of its rights to enjoy all the capacities for peaceful nuclear technology, Baqeri was quoted as saying.

    During the meeting between Jalili and Ashton in Istanbul last week, Iran offered some proposals, reiterated its insistence on the nuclear rights and demanded Ashton’s response, Baqeri said.

    “Due to Iran’s clear logic in its proposals, it is now the turn of the P5+1 — the five permanent members of the UN Security Council plus Germany — to respond to these proposals,” said the Iranian official.

    Iran insists that its nuclear program is solely for peaceful purposes, and warned that it will retaliate if it comes under an attack.

    Iranian nuclear talks in June ended without a breakthrough, while the P5+1 are expected to discuss with Tehran on the sidelines of the ongoing UN General Assembly in New York.

    via Iran to Give up 20 pct Uranium Enrichment if West Lifts Sanctions.

  • Iranian president Mahmoud Ahmadinejad condemns an anti-Islam film as well as extremist reactions to it

    Iranian president Mahmoud Ahmadinejad condemns an anti-Islam film as well as extremist reactions to it

    Iranian president Mahmoud Ahmadinejad condemns an anti-Islam film as well as extremist reactions to it

    via Video – Breaking News Videos from CNN.com.

    ‘Kimsenin Ölmesini İstemiyoruz’

    “Yüce Peygamberimizi küçük düşürmeye çalışmak yeterince kötü bir davranış. Bunun özgürlük ve ifade özgürlüğüyle alakası yok.” diyen İran Cumhurbaşkanı Ahmedinejad, bu gösterilerden dolayı dünyanın hiçbir yerinde insanların yaşamını kaybetmesini istemediklerini de söyledi.

  • New innovation from Iran: Islamic bikes

    New innovation from Iran: Islamic bikes

    After its revolutionary space programme, sending a mouse, a turtle and a can of worms into space in February 2010, and after being set to uncover the secrets of nuclear fusion, Iran is continuing on its unstoppable path of innovation and progress.

    dayibecameawoman

    Next are Islamic bikes. This new project is so special however that only women will benefit from it. Because as the deputy governor of Isfahan said: “Riding bicycle for women, if it is done to attract attention, is against Islamic law … But there are health benefits and we cannot only prohibit women from doing things … So we are designing biking provisions for women, such as specially designed bicycles.” I am curious to see the prototype…

    via New innovation from Iran: Islamic bikes | The Happy Hermit.

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