Member Info for Bigears1170

If it’s wishful thinking that HH would have been party to the location of the ME deal ?
Had they known I can’t believe they would have loitered hereabouts given Trumps age old bluster on the JCPOA - I had a look back and found that his first broadside came as early as our prop-shaft debacle so his hatred of the deal preceded our ME MOU , so his eventual pull out was well and truly telegraphed !

I,m scavenging for a few crumbs of comfort that they might have , and that maybe there was something else in the pipe that enticed them to hang around ?... /o:

Like everyone in Europe , Rouhani,s words are irrelevant - Trumps people talking of unprecedented financial pressure and European sanctions renders our Iran deal toast )o:

The remaining signatories of JCPOA are merely going through the motions imo , history will write that they did everything they could to make the deal work but it was Trump and his secondary sanctions that ultimately choked the deal as the Iranians won’t acquiesce to Trumps demands - Turkey , India, China & Russia will continue to buy Iranian oil whilst picking up the large juicy contracts vacated by the Europeans - and the Iranians will wait for a new president by which time they might not be ar$ed so long as they are flogging their oil /o:

long before the begging bowl gets a day out ?

TW talking about buckets and shops over on SP / o: I’m taking no notice as I’m waiting for the WSG oracle on cash burn to speak - step forth H&N , he’s the best - he knows all about cash burn - ish (o: Still looking forward to his promised update from the AGM - according to him our gig falls outside of sanctions (o:

Nowt ever happens quickly - the sanctions aren’t a threat - and there wont be a deal with Trump - AIMHO

I doubt it - I see another French multinational has pulled the Iranian pin )o: They clearly don’t share the same optimism seen across these pages |o:

The EU bank is not the right tool,” an EIB spokesman told Reuters, saying its business model “would be incompatible with ignoring possible sanctions against Iran.”

But the comment, the EIB’s first since the EU executive proposed it engage in Iran last month, is a particularly hard blow coming not from a commercial bank but from an institution driven by EU policy.

Your talking out of your hat - as night follows day all US sanctions will affect European companies once secondary sanctions kick in come November 4th

Ozzie your spot on as there’s nowt new in it - that’s what bamboozles me as no one appears to comprehend its reach - including it appears you as Fowler may as well tweak his todger -
H&N commented that it didn’t we’re not affected as our contract is all about aviation safety - what utter crap , Iran have had aircraft dropping out of the sky for twenty odd years with the USA not giving a rats a$$ \o:

Oh - do you mind elaborating on the German thing - why did we set that company up ?

Unfortunately not - that licence encapsulates a smorgasbord of related services - parts , logistics, freight , ticketing , marketing etc - it captures the lot )o:

There you are slipperz

https://www.treasury.gov/resource-center/sanctions/Programs/Documents/iran_gli.pdf

I’d be interested to hear H&Ns thoughts , perhaps he might include it in his much anticipated update /o:

If you say so (o:

I’m not familiar with the precise mechanics of the IATA payments system -though I understood they use the US dollar ? what I do know is that no US Bank , or Tier 1 European Bank would process any payment from Iran BEFORE sanctions so best of luck thereafter - hence the German connection Io:

I take no satisfaction from what I posted , though unfortunately its matter of fact - our contract is parked until sanctions come to an end )o:

As I’ve said before I sincerely hope we didn’t have all of our eggs in the one basket )o:

Trouble here is that some folk really do struggle with the unpalatable truths - Anyone who’s happy to quote Fowlers word as fact had better not mind looking a bit silly - which some here clearly don’t (o:

I find it inconceivable that anyone who has the inter web at his or her finger tips would believe any of that AGM update - it’s demonstrable cobblers /o:

Having a re-read through yesterdays nothing new cobblers update and AGM feedback ( thank you Eskers ) IMO confirms we’re hamstrung until Trumps sanctions punch up plays out )o:

Fowler commented our activities don’t feature on any specific sanctions list - that counts for nowt – OFAC openly admit they cant list every single international commercial activity , and why should they bother when they know what they miss off the list will ultimately get caught in the spiders web of banking restrictions .
 
Our bod commented that they were in talks with German Financial institutions. - It’s true that a number of small German banks have been facilitating Iranian transactions due to Iran being denied access to the dollar and the US banking system , though we were always going to have to be paid through our German company via a German bank irrespective of sanctions – the reason German cooperatives were used was that they had zero ties to the US banking system , an example being KCI which is a cooperative of small savings banks who have said they will continue to ,  “ trade with Iran for now “ and “ wait and see what the sanctions look like “   , however their banking partner in Iran is the state owned bank Melli – Melli featured on the last list of secondary sanctions so is expected to reappear in November , thus breaking the link - to add further complications to the German banking conundrum would be any Iranian transaction through one of those banks would require sign off from the German central bank .
 
Baldry mentioned our £100m airside insurance policy requirement  -  underwriting services , insurance and re- insurance sanctions become effective ‪5th November‬ – a handful of underwriters occupy the airside market place , all of whom could look forward to a substantial financial slap from the US if they somehow wrote business in Iran  /o:
 
Fowlers talk of obtaining a letter of assurance from the US Treasury is absurd - sanction relief falls in to three categories -
1/
Executive orders ; can only be rescinded or suspended by Trump himself.

2/
Sanctions ; with the built-in authority for the President , Secretary of State or Secretary of the Treasury to issue time-limited waivers or suspensions.

3/
Legislation; that can only be altered or revoked by Congressional action.

I note earlier this week the US have stated their intention to try and squeeze ALL Iranian oil exports by Nov 4th and muted sanctions against any country caught purchasing their oil .

To summarise ; if an entity decides to trade with Iran it cannot deal directly or indirectly with the U.S. financial system - that means they are not permitted to spend or receive a single dollar bill anywhere in the world |o:

Cheers

Appreciated (o:

I agree - but lets have it right and not let Fowler hoodwink PIs about MOU sensitivity - the sole reason Fowler doesn't update the markets with LOI or MOU is because is provides the markets with the ability to bench mark the bods miserable performance - he learnt that lesson from the billions of dollars worth of pipeline shat which have never converted ......

Its Fowler himself who created any perceived issues with compromising MOU location by providing the geographical regions they are located in – What stops him from providing timely updates on A N Other airport with 900K Pax located somewhere in the world ???

If they have been in a closed period for the past four years but now find themselves outside of it - what does that say about the status of this MOU they expect to convert this year ?????

If we attempted to bypass secondary’s ( November sanctions ) without a waiver from the USA it would screw SL and any other contract in US dollars without doubt – that’s my point , secondary’s ( if imposed ) don’t kick in until November so why the rush to place the contract on hold /o: In short any company that circumnavigates secondary sanctions without a waiver is F*cked , and so would anyone who facilitated the deal – all this talk of German cooperative banks is hogwash too - if the sanctions kick back in the same form as pre Jan 2016 any payment channelled through one of these banks to or from Iran will have to be approved by the Bundesbank ( German Central Bank ) that aint going to happen as Merkell wont wont to **** trump off anymore - IMO that is /o:

We have a signed contract which is not contractually binding as we await governmental approval - in my book that’s not a contract as we'd be laughed out of the bank if we went looking for finance with such a document . In any case your spot on re our BOD seeing the announcement coming alright hence no director buys - Trump has been banging on about the JCPOA for 18 months so the family Fowler were never going to be digging deep - read this following from October 2017 and ask yourself if you would stayed holding had you known it was Iran - https://www.whitehouse.gov/briefings-statements/remarks-president-trump-iran-strategy/ - or perhaps consider if you think the content of Fowlers 22nd Dec RNS was appropriate on the back of such political noise /o: In respect of the timing of the 10th May announcement I can't understand why anyone would think it not a little curious - Why would he place the contract on hold whilst still waiting for an exchange of letters to finalise the contract given there was 88 days of grace left for the world and his wife to continue normal trading /o: Can anyone point to another CEO shooting his bolt so early ???