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... be issued."
https://www.newsarticleinsiders.com/us-sanctions-german-banker-heads-the-eu-payment-system-for-iran-trade
"US sanctions: German Banker heads the EU-payment system for Iran trade
"It is a delicate Job, the the German By Fischer. The 69-year-old former Manager of Commerzbank is to now at the top of the “Instex”, the new special purpose vehicle, the European company with business ties to Iran prior to U.S. sanctions.
A corresponding entry in the French register of companies on the establishment of a “Special Purpose Vehicle” (SPV), published in the official journal “Affiches Parisiennes” at 30. January. Instex stands for “Instrument in Support of Trade Exchanges”. The object of the society shall be the “financial, legal and accounting” consulting and services for companies. The purpose of the society is “to promote legitimate trade with Iran”.
the Special Purpose Vehicle of Germany, France and the United Kingdom was Founded. In the Supervisory Board, senior diplomats from the three countries: For Germany, Miguel Berger, head of the economic Department in the foreign office. For France, Maurice Gourdault-Montagne, previously French Ambassador in Beijing, for the UK, Sir Simon McDonald, the Under-Secretary and head of the diplomatic service at London’s Ministry of foreign Affairs.
Instex is to ensure that European companies which engage in legal trade with Iran, will not be affected by American sanctions. It had become from the point of view of the Europeans is necessary, after US President Donald Trump was bailed out of the nuclear agreement with Iran (JCPOA). Trump then enacted which, in his words “the harshest sanctions of all time”. Attention is directed primarily against the Iranian Oil industry and other selected sectors.
fisherman needs to export, with punitive measures of the United States
expect, Actually European companies are allowed to all Goods which are not subject to the sanctions in the Iran. The Problem, however, is that almost all banks in Europe to reject payments for such transactions. The financial institutions fear they could be punished in the United States. “Over-compliance” of sanctions call of the EU-diplomats – over-Fulfillment.
Instex is a kind of exchange, in which the claims of Iranian and European companies, will be charged. Money that Iran, for example, for oil Supplies to Europe in the invoice, could flow directly to European companies, the products to Iran to sell. On Monday, the foreign Ministers of Germany, France and Britain agreed in Brussels the final Details.
Fischer was appointed for six months to the managing Director of Instex. Prior to that, he was for 29 years in various positions at Commerzbank. The German Director of the special purpose entity must now also reckon personally with sanctions of the USA. Also, the Supervisory Board members suffer the personal consequences. While you are traveling with a diplomatic passport, which protects you worldwide against law enforcement. But Americans or other countries outside of the EU, could you explain to the unwanted Person and entry bans can b
Yes. On Monday, Heiko Maas said that it is designed so that "non-sanctioned areas - that is, business not sanctioned by the US - can be upheld."
A recording of that press conference is online now, see ~24 minutes in: https://ec.europa.eu/avservices/video/player.cfm?ref=I166979
WSJ journalist Laurence Norman reported it as 'humanitarian' trade initially - slightly different!
Probably need some setting up on the Iranian side and, you'd think, Iran avoiding FATF blacklisting.
Yesterday the Chairman of the Iranian parliamentary Commission on National Security and Foreign Policy, Heshmatollah Falahatpisheh said a similar thing to what I've been assuming: “Europeans are negotiating with the US for applying SPV.”
So maybe we do need to be watching Trump's facial expressions and paying attention to some of the rumours... ;)
Trump/The US are negotiating with Iran via the EU, imo. I also believe that this SPV is approved by DT and that it will develop over time to incorporate more and more trade, in-keeping with Pompeo's December comments: "Relief from our efforts will come only when we see tangible, demonstrated and sustained shifts in Tehran's policies."
There's obviously still work to be done but if you look back at the 12 demands the US made of Iran, you can see that they're playing ball. Doing so through the EU and them and the US permitting some sanctions relief via the SPV saves face for Iran, the EU, and also the Israelis (Trump) get their way.
Once Iran are pacified, Trump-Kushner can get on with their 'Deal of the century' before the next election campaign. I'm guessing that the aim atm is to have less Iranian pressure and leverage on Israel, so that when it comes to those discussions Kushner and Trump can 'persuade' the Palestinians to accept a bad deal (Iran are now one of the few countries willing to stick up for the Palestinians). Then the Israelis and Evangelical Christians (e.g. Pompeo and lots of Trump supporters) can get on with building their Third Temple and planning for The Rapture/return of JC...
Things flared up in Syria recently between Syria, Iran and Israel, presumably because Israel wanted to demonstrate that the US leaving (an Iranian request, but whether this was the sole reason is debatable) was not an invitation for Iran to encroach on its borders but there have since been further clues about give and take between the various parties since:
- Poland have now invited a Palestinian representative to the Warsaw summit (another Iranian demand).
- Iran today publicly said that they're not looking to increase the range of their missiles (something that has been worrying Israel and, therefore, the US).
- They have also released Meimanat Hosseini-Chavoshi (an Australian citizen).
Could, of course, be wrong and there's still lots of work to be done but I don't think that we're relying on Trump disappearing.
Bonus Iran business related post from earlier today: https://twitter.com/tradegovukMENA/status/1090179952484470784 "Dept.Int.Trade MENA? @tradegovukMENA Excellent day of meetings on the Department for International Trade stand at @arabhealth2019 discussing opportunities in Iran #lifesciences #healthcare @UKinIran"
Oh, and I heard "Thursday" mentioned for the SPV now, lol...
Out and about now but I watched a live stream with Maas, Mogherini and others from Brussels. I think it was some kind of security meeting press conference and they only spoke about SPV when asked questions at the end.
Recording might have been put up on YouTube or the EU site by now.
I don't know what Laurence Norman (Wall Street Journal) was listening to in the EU press conference today but he completely mis-translated what Heiko Maas said! The proper translation was that the SPV is being readied so that "business not sanctioned by the US can be upheld".
I'm guessing that this has the US' blessing in private. Some more negotiations on missiles, etc., join FATF and then maybe oil sales, etc. can go through it too...
Also, the US are apparently ready to waiver some sanctions so that US companies can sell some aeroplane parts to Iran for their US-made aircraft.
No, I didn't see it, which is why I specifically asked if it had been removed for this new test. I just don't remember hearing that it had been removed and that BRX2-Y was put out of production, but then I only take a passing interest in this share! Thanks for the replies :)
Can anyone please confirm whether the oil in the tanker spotted today (and the one the other day) was definitely from the 'new' BRX4Z Kimmeridge well and not from the 'old' BRX2-Y Portland well? I asked earlier and nobody replied.
The 'old' BRX2-Y well is still listed as producing 21-35 bopd (https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/ANGS/13586369.html), using a nodding donkey (https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/759050/EPR-BL9763IN_-_Brockham_decision_document_FINAL_for_issue.pdf), but has this been removed whilst the Kimmeridge testing takes place?
Thanks in advance.
Is the BRX2-Y well producing at the moment?
“Iran is a much different country today than it was 2 years ago. It's not the same and it won't be the same. And I do believe that they want to talk.”
Trump on 17th January 2019.
Yeah, hosted by their little far right mates in Europe: https://www.aljazeera.com/news/2018/11/polish-officials-march-nationalists-independence-day-181111093227508.html
Can pretty much guarantee that Saudi, Israel, UAE, Egypt, Ukraine and Brazil will be there too. Probably a few other ME countries that rely on US, Israel and Saudi as well. Presumably hosted in Europe to try and split the EU opinion.
Officially it's not focusing on Iran, it's on Middle East peace and security. I wonder if Iran got an invitation? It would be amusing to see them to rock up.
9.66 and below were sells, the rest were buys. Around 187k of buys and around 175k of sells. So far.
Further to that, Novice, here's a German company investing in an Iranian solar plant:
https://financialtribune.com/articles/energy/96121/6th-solar-power-plant-for-irans-hamedan
"6th Solar Power Plant for Iran's Hamedan
The sixth solar power plant in Hamedan Province has been synchronized with the national power grid.
Located in Beshik Tappeh village in Kabudarahang County, the plant has a capacity of 7 megawatts, and was built by the Renewable Energy and Energy Efficiency Company (SATBA), a subsidiary of the Energy Ministry. The German Company Athos Solar GmbH invested $9 million in the project, SATBA reported.
The plant will generate 14,000 megawatts per hour of electricity per annum, helping reduce the emission of greenhouse gasses. If the same amount of energy was to be produced by a thermal power plant, 9600 tons of carbon dioxide would burn annually."
https://theiranproject.com/blog/2019/01/13/iran-private-sector-navigates-uncertainty-as-some-financial-channels-emerge/
""Before November 4 there was a lot of uncertainty as foreign banks felt no obligation to work with Iran. But in the past months there has been some new action by these banks,” Soltani said."
Latest from the EU on the SPV:
"Actually, this is the work that is carried out by the (EU) member states. And according to the information that we have, the work is continuing and advancing well,” Maja Kocijancic, spokesperson for EU High Representative Federica Mogherini told a news conference in Brussels on Monday, the Kuwait News Agency reported."
We've been there before, but some on Iranian media were stating that the SPV would be in place by "next week", some "soon" and another "within weeks"...
400k would be about 4x what Lungi is now. Presumably the 400k would be larger now too? The limited Zanzibar numbers available online (from 2014!) seem to fit.
Interesting last line in this story from Persia Digest. It is their headline story atm:
https://persiadigest.com/US-sends-new-message-for-talks-with-Iran
"US sends new message for talks with Iran
ID : N-3919 Date : 2019/01/07 - 11:07
(Persia Digest) – The secretary of Iran’s Supreme National Security Council (SNSC) has said: “During my visit to Afghanistan, two US envoys came to me and said the US wants to negotiate with you. But Iran will not talk to them because the US breaks its promises and is not trustworthy. Therefore, it is meaningless to negotiate with them.”
Ali Shamkhani visited Kabul on 26 December, heading a high-ranking delegation of Iran’s political, military and security officials and exchanged views with senior Afghan officials on major bilateral, regional and international issues.
Shamkhani made the announcement while US President Donald Trump had claimed on Sunday that Iran is not doing well and wants to talk with the US.
Since Trump has taken office, the issue of US-Iran talks has repeatedly been raised while each time both sides claimed that the other side was the one who asked for the talks and no talks have ever been held between them.
As the Supreme Leader of Iran has forbidden any talks with the US (at least with the present US administration), it is unlikely that Iran will be the one to make an offer of talks. Therefore, while seeking to negotiate with Iran in various ways, it seems that Trump is trying to persuade public opinion that Iran is the one who took the first step for talks."
That last line is pretty much my estimation of it too - that sanctions poster on the table during the US cabinet meeting the other day was a massive clue imo!
n.b. Persia Digest is based in Tehran and was founded by the former director general of foreign media department at Iran’s Culture Ministry.
Variations on this are all over the Iranian press today - definitely seems that something is up...
Interesting that it says "Tanzania Airports Authority director-general Richard Mayongela said foreign travellers boarding aircraft at major airports in the country will pay $5 while those on domestic flights will pay $2." - "major airportS" (plural).
How many of these would be classed as such?: https://en.wikipedia.org/wiki/List_of_airports_in_Tanzania
If it is Tanzania, maybe this opportunity has 'grown in size and scope' too!? I guess that we'll find out soon...
"Contracts have been drafted and we anticipate providing a further update in the new year."
Re. Zanzibar: https://www.theeastafrican.co.ke/business/Tanzania-to-tax-air-travellers-from-October/2560-4777352-2u2bo5/index.html
"Tanzania to tax air travellers $5 from October
Tuesday September 25 2018
Tanzania has announced a security levy on air passengers which takes effect on October 1,2018.
The new levy, which takes effect on October 1, is meant to help improve airport security installations and safety services including perimeter fences and scanning machines.
Foreign travellers boarding aircraft at major airports in the country will pay $5 while those on domestic flights will pay $2.
The current departure tax for domestic flights is Tsh13,000 ($5.7) while international departure tax is Tsh112,101 ($49) per passenger.
Tanzania announced a security levy on air passengers, which businesses warn is likely to affect tourist numbers.
The new levy, which takes effect on October 1, is meant to help improve airport security installations and safety services including perimeter fences and scanning machines.
Tanzania Airports Authority director-general Richard Mayongela said foreign travellers boarding aircraft at major airports in the country will pay $5 while those on domestic flights will pay $2.
“The security levy is targeted at enhancing the development of airport infrastructure, and stabilising and strengthening the safety of our airports,” said Mr Mayongela.
However, airline executives say the new levy will make air transport in the country expensive, adding that several taxes and fees are already being charged. They fear it may scare away potential customers.
The current departure tax for domestic flights is Tsh13,000 ($5.7) while international departure tax is Tsh112,101 ($49) per passenger.
Alexander Van de Wint, a KLM official in Dar es Salaam, said airlines had sold tickets for up to the end of the year and asked the government to postpone the levy until January 2019.
Chief executive officer of the Tanzania Association of Tour Operators Sirili Akko told The EastAfrican that the levy “works against the government’s goal of increasing the number of tourists.”
M Akko said a reduction, if not abolition of all the fees, levies and taxes on auxiliary services in the tourism sector would have maximised returns from the country’s tourism and wildlife sector.
Tourism is Tanzania’s leading foreign exchange earner and a key economic sector.
The economy earned Tsh4 trillion ($2 billion) from the sector last year, according to the Tanzania Tourist Board.
This surpassed earnings from gold, which brought in Tsh3 billion ($1.28 billion) in the same period."
Not sure if the above has been posted before, but, assuming it is Zanzibar, perhaps that KLM request is why we were delayed a bit? That and the details about the extra charge seem to fit with us.