Tag Archives: sanctions

What Economic Recovery? U.S. sanctions against Iran means death knell for French steel factory

On February 20, 2012, French steel workers are occupying the ArcelorMittal steel plant in northeast France.  Two blast furnaces have been shut down since October 2011.

I’ve posted how U.S. sanctions against Iran include the steel industry, and it’s having negative affects, not for Iran but the West!

The shut down of the ArcelorMittal blast furnaces is supposed to be temporary, but last week company officials announced an extension to the shut down.  About 200 employees responded by taking over company offices.  Employees fear the temporary shut down is going to become permanent, no thanks in part to the U.S. and European sanctions against Iran.

Government Incompetence & World War 3: United States increasingly isolated over Sanctions against Iran. India and Japan still buying Iranian oil. South Korea gets exemption

India’s decision to walk out of step with the international community on Iran isn’t just a slap in the face for the U.S. – it raises questions about its ability to lead. The Indian government’s ill-advised statement last week that it will continue to purchase oil from Iran is a major setback for the U.S. attempt to isolate the Iranian government…”-Nicholas Burns, former U.S. Undersecretary of State for Political Affairs

India joins a growing list of countries basically telling the U.S., and U.K., to go stuff themselves.  Indian government officials are working with Indian companies to create a system that will let them pay for Iranian oil with Indian rupees.

In Japan, an affiliate of Royal Dutch Shell, says they will continue buying Iranian oil despite pressure from the U.S. government. Showa Shell Sekiyu KK is Japan’s 5th largest refinery, and uses 100,000 barrels per day of Iranian oil.  Officials say they are affiliated with Royal Dutch Shell, but they operate independently and have their own contracts with Iran.  This is also why Iran has not stopped oil shipments to Japan (Royal Dutch Shell is a British/U.S./Dutch controlled company).

Then there’s South Korea, which has managed to convince U.S. lawmakers to exempt more than 2,000 Korean companies from the sanctions.  Not only that, but South Korea’s Woori Bank, and the Industrial Bank of Korea, do business directly with Iran Central Bank.  Their transactions are done in Korean money, thus avoiding the U.S. petro-dollar.

World War 3 & Government Incompetence: Iran shuts down global Steel industries, blame the United States, Russians pissed off. “Iran is King”

“Iran is the only market in the world that can move billet prices and now trading has basically come to a halt.”-unnamed British steel trader

Not only is the U.S. oil sanctions on Iran backfiring, but so are U.S. sanctions on steel sold to Iran!

“Now you can really feel the effects of the sanctions imposed by the U.S. and Europe…It is very difficult to do any business with Iran at the moment.”-unnamed Swiss steel trader

U.S. and European sanctions might have stopped the sale of steel to Iran, but it’s also shutting down U.S. and European steel makers!  Why?  Iran is the biggest buyer of steel billet, and with the biggest buyer of steel out of the game steel prices are dropping like a rock!!!   (unlike oil, where everyone is trying to get their hands on it, thus causing oil prices to go up)

Russia is upset because they supply much of the steel Iran uses (Iran buys 15% of the steel exported by Russia): “Russian producers are not selling to Iran as they need pre-payments and won’t accept letters of credit. If I find a way to do that I won’t tell you. Iran is the king market in steel and if we can find a way to trade with them again we certainly would not share the know-how.”-unnamed Swiss steel trader dealing in Russian steel

Unlike the oil market, where Iran has established a successful trade system that avoids the U.S. dollar and U.S. & U.K. banks, the global steel market is still dominated by U.S. & British banks.  But some Russian’s are hopeful they’ll find a way ’round it: “Steel demand is pretty strong, the problem is the banking system. Russian banks do not have trading lines with Iranian banks to facilitate ruble transactions.”-Dmitry Smolin, URALSIB Capital

 

World War 3: Ron Paul says U.S. claims against Iran are overblown, sanctions are acts of war

“For them to be a threat to us and to anyone in the region, I think it’s blown out of proportion.”-Ron Paul, U.S. Congressman from Texas

The International Atomic Energy Agency (IAEA) is scheduled to come out on November 8 with a new report on Iran.  Some sources say it will accuse Iran of making nuclear weapons.

One week ago, the U.S. House Foreign Affairs Committee asked to intensify sanctions against the Islamic Republic of Iran.  Ron Paul says that proves we are at war with Iran: “When you put on strong sanctions, those are acts of war.”

If you take some college courses on warfare you’ll discover that economic sanctions really are part of the war making arsenal (that’s why the Japanese say they were justified in attacking the U.S. Navy at Pearl Harbor in 1941).




 

Global Economic War: EU officials say they want economic sanctions against other EU countries

“We are in complete agreement in the Dutch cabinet that imposing automatic sanctions as much as possible against countries who do not stick to the rules is the only way to ensure the euro’s long-term success.”-Mark Rutte, Prime Minister of Netherlands

Officials in Netherlands, an economically stable member of the European Union, is pushing other EU members to impose economic sanctions against EU countries that don’t meet the EU standards.

The Dutch claim that for far too long there are some EU countries that have not been playing by EU rules, and they’re the ones dragging down the EU economy.  They want sanctions placed against those member countries, or they want them expelled.

Many citizens of Netherlands, and Germany, would like to see Greece, Ireland and Portugal kicked out of the European Union.

Idaho State University hit with sanctions, major donor says ISU President “inflexible”

“There’s something very sick at that school, and Art Vailas I think is at the core of it. I was shocked when I heard about the potential for a vote of no confidence. I talked to Art several times about it. Art is not a very good listener. He’s very stubborn. He’s inflexible. It is his way or no way because he thinks he’s right. I told him never to call me anymore.”-Jim Rodgers, major Idaho State University donor, and former chancellor of higher education in Nevada

Jim Rodgers is a major donor to ISU, and he’s not happy with what’s been happening there.  The Idaho State Board of Education ended the faculty’s bargaining ability by suspended the Faculty Senate, at the request of President Arthur Vailas.
Vailas, and his administrators, have been busy trashing ISU ever since they arrived a few years ago.  It’s looks like it’s part of a plan by the state to reduce ISU’s ability to provide higher education.
For one thing student tuition and fees have skyrocketed, and classes have been cut.  The reason given is always lack of money, but just a few weeks ago ISU announced they were buying an old factory building that was used to make medical products (aka Ballard Medical building).
The suspension of the Faculty Senate prompted a vote by the American Association of University Professors.  They voted to sanction ISU, the largest university ever to be sanctioned by the AAUP.  The vote was unanimous.
Former ISU Faculty Senate Chair, Phil Cole, says AAUP sanctions should be taken seriously, because they act as a warning to potential employers, and graduate schools, that the education program at ISU is ‘suspect’, and that “there is a fundamental flaw in a university and it could collapse.”

This might be part of the State Board of Education’s plans to end ISU as a four year university (which many of the state employees at ISU believe is the intention).

Iran names 26 U.S. officials in Human Rights violation sanctions

On May 24, Iran issued a list of 26 officials from the United States that violated international Human Rights laws.

The list includes: Commander of U.S. forces in Iraq Raymond Odierno.

USS Vincennes Captain Will Rogers III.

Former FBI chief Thomas J. Pickard.

Former commander of the U.S. detention facility at Guantanamo Bay, Geoffrey D. Miller.

Current Guantanamo commander Rear Admiral Jeffery Harbeson.

Former Secretary of Defense Donald Rumsfeld.

Former U.S. US administrator in Iraq Paul Bremer.

Former U.S. Army General Tommy Franks.

Iran is joined by Amnesty International, and the UN Human Rights Council in condemning the growing evidence human rights violations committed by the U.S., both outside and inside its borders.

 

Venezuela to break U.S. oil sanctions with Iran, will cancel oil shipments to U.S. instead

On May 24, the United States imposed new oil sanctions against Iran, and that includes Venezuela’s state controlled PDVSA oil company.

Syria, Iran and Venezuela co-own an oil refinery in the Syrian state of Homs.

Venezuela’s Energy Minister Rafael Ramirez, says they have a right to do business with whomever they wish: “This is a right we are not going to renounce.”

On May 25, Venezuela’s Foreign Minister Nicolas Maduro, announced that plans were underway to stop exporting oil to the United States: “There are several proposals that are being evaluated by President Chavez to respond to the United States’ imperialist pretensions.”

German bank continues violating sanctions against Iran

European-Iranian Trade Bank AG (EIH Bank), based in Hamburg Germany, says it will not abide by European Union sanctions against Iran.

Earlier in the week the EU froze the bank’s assets.  Bank officials say it will not stop them: “Nothing has changed; the same Bundesbank office which approved our transactions during the investigation will continue to approve our transactions under sanctions.”-Norbert Eisenmenger, EIH finance and marketing

Last year the United States blacklisted the EIH bank, saying the bank was providing financial services for other banks doing business with Iran.

Obama sanctions Syria, Iran

U.S. Treasury Department announced that President Barak Obama has imposed sanctions against Syrian President Bashar al-Assad, and other Syrian officials.

The sanctions also include two Iranian officials.  Also, Obama signed a similar order against at least 10 Syrian officials on April 29.

“As a result of this action, any property in the United States or in the possession or control of U.S. persons in which the individuals listed in the Annex have an interest is blocked, and U.S. persons are generally prohibited from engaging in transactions with them.”-U.S. Treasury statement