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In Case You Missed It: UANI Featured
in The Wall Street Journal, The New York Times
UK Bank Standard Chartered Exits Iran Amid International
Pressure
By
Benoit Faucon
May
9, 2012
Standard
Chartered PLC has pulled out of Iran after decades of having a presence,
the latest bank to exit the lucrative market amid mounting international
pressure. ...
Kristen
Silverberg, the newly appointed president of New York-based pressure group
United Against Nuclear Iran, welcomed Standard Chartered's decision to end
its business in Iran.
"We
call on other banks around the world to follow Standard Chartered by
pulling out of Iran, and completely cut off the regime's access to
international markets," said Ms Silverberg, a former U.S. ambassador
to the European Union. ...
Click
here to read the full article.
European Countries Seek Easing of Provision Included in
Iranian Oil Embargo
By
Rick Gladstone
May
10, 2012
Britain
said Thursday that it was in talks with other European Union members about
possibly easing a provision of their Iran oil embargo, set to begin in less
than two months, that could cause harmful and unintended side effects
because it bans Europe-based insurers from covering any ships that carry
Iranian oil anywhere in the world.
Such
an easing would most likely be welcomed by Iran as well as non-European
buyers of Iranian oil, and it could reduce a potential cause of spiking oil
prices. But advocates of aggressive sanctions against Iran argue that it
could also subvert the underlying purpose of pressuring Iran, a major
exporter of oil. ...
Most
big maritime insurers and underwriters are based in Europe, and other
buyers of Iranian oil are finding it increasingly difficult to buy the
required liability insurance needed to ship it as the embargo's July 1
enforcement date looms. ...
Proponents
of the sanctions, reacting to a possible delay in the insurance ban, were
angry. "Iran's economy is feeling the impact of international
sanctions, and it is now time to not only keep that pressure on, but
increase it," Mark D. Wallace, the chief executive of United Against
Nuclear Iran, a New York-based advocacy group, said in a statement.
"The regime will not change course due to half measures." ...
Click
here to read the full article.
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