Skip to comments.Iran Says Europe Hurting Itself With Sanctions
Posted on 01/24/2012 2:50:30 PM PST by Eleutheria5
Iran continues to claim it is reaping the rewards of European sanctions even amid a deep currency crisis that rocks Tehran.
In fact, the oil ministry in Tehran claims the embargo would leave Iran unscathed while inflicting "heavy economic loss" on the "people of Europe, who have been affected by crisis".
The result would be a "slowdown in global economic growth, particularly in the crisis-hit Western world," said the statement.
However, the value of the rial, Iran's national currency, has fallen by around 50 per cent against the dollar in the last month alone as Iran tries to circumvent sanctions by trading in Russian rubles and Chinese yen instead of US dollars and European Euros.
The rial lost 10 per cent of its value in the 24 hours after the European Union's announcement of oil sanctions.
Heydar Moslehi, the intelligence minister, told Tehran's official news agency that Iranians would prosper from the sanctions, hailing them as "opportunities" that have "already brought lots of benefits to the country".
Iranian officials last week had reissued their threat to close the strategically vital Strait of Hormuz, though which much of the world's oil flows, if the West brought more sanctions to bear against its oil and banking industries. The Bahrain-based US Fifth Fleet has said closing the strait would be "an act of war."
(Excerpt) Read more at israelnationalnews.com ...
Philosophical question O’the day:
Does an Islamic leader’s lips have to move for him to lie?
There are others: If an Imam demands nas-nas (beast-with-2-backs) from a woman other than his wife and it gets videotaped, who gets stoned and who gets flogged?
Guaranteed this line of attack originated in the Kremlin. The mullahs are not smart enough to play this propaganda game but the Reds have been doing it for years.
We can stick it to Russia and Iran by using the massive surplus quantities of natural gas we have to power automobiles. That will kick the support out from under high oil prices. We’re already screwing with Russia by looking at building an LNG terminal in Ukraine.