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Archive for January 2013

Iran: Backpedaling?

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Perhaps the biggest news since the sanctions against Iran began, and perhaps an indication of their success (here):

Mahmud Bahmani, Governor of Iran’s Central Bank, said on the sidelines of the second conference on Electronic Banking and Payment Systems, “There will be some changes to the foreign trade pattern, but the euro and US dollar won’t be removed from the foreign trade system.” He explained that these changes are required, as Iran does not trade with America and European countries. Previously, the Minister of Economic Affairs and Finance said that Iran would no longer use the euro and US dollar in its trade exchanges, in keeping with the government’s economic working group decision.

Here‘s a bit of background from the blog.

And here’s what the Minister of Economic Affairs was saying before Bahmani.

Written by M. James

January 30, 2013 at 8:34 am

Posted in News, Politics

Tagged with , ,