Top Stories
Reuters: "U.S.
authorities are investigating Royal Bank of Scotland and Commerzbank over
possible breaches of sanctions on Iran, in a widening crackdown which has
already cost Standard Chartered a hefty fine. An RBS spokeswoman declined
detailed comment on Wednesday but referred to disclosures published with
the bank's half-year results earlier this month. These said RBS had
initiated talks with U.S. and British authorities on whether it complied
with economic sanctions on Iran, and that it could face a 'material impact'
from the investigation. The inquiry raises the possibility of a
substantial punishment for the part-nationalized British bank, which is
also being investigated for its involvement in the Libor rate rigging
scandal, ramping up pressure on Chief Executive Stephen Hester...
Germany's second biggest-lender, Commerzbank, also said in a regulatory
filing that investigations by the United States into violations of
sanctions on Iran and other countries could hold 'considerably negative'
consequences. Commerzbank, which is 25 percent-owned by the German state,
said U.S. authorities were investigating whether its dealings with Iran,
Sudan, Myanmar, North Korea and Cuba had violated U.S. embargoes, and
pointed out that other banks had paid large settlements to end such
investigations." http://t.uani.com/SSALJJ
Reuters:
"U.N. nuclear inspectors will press again for access to a major
military facility in talks with Iran this week but the chances of finding
any evidence of suspected atom bomb research may have dimmed because the
site has been 'cleaned up', Western diplomats and experts say. Visiting
the Parchin complex has become a priority for the International Atomic
Energy Agency as it seeks to end what the West sees as prolonged Iranian
stonewalling of its investigation into allegations of attempts to design
a nuclear weapon... Citing satellite images, Western diplomats say Iran
has demolished some small buildings and moved earth at Parchin in an
apparent attempt to purge any incriminating evidence from a site where
the IAEA believe tests in a steel chamber relevant to nuclear arms were
carried out, possibly a decade ago." http://t.uani.com/NkzzML
Reuters:
"Asia's crude imports from Iran are set to recover in September to
levels reached before a July 1 insurance ban by the European Union
plunged trade with the Islamic Republic into uncertainty not seen in
decades. Top Asian buyers -- China, India, Japan and South Korea together
take more than half of Iran's crude oil exports -- have worked around the
European Union embargo, suggesting imports will stay at least around
these levels for the rest of the year. Refiners want to continue using
the Iranian crude many of their plants are configured to process, as
changes will need lengthy testing of new grades or cause an alteration in
output... The European Union ban halved Iran's exports to top Asian
buyers in July from June's figure of 1.28 million barrels per day (bpd),
sending buyers scrambling to work around the measure." http://t.uani.com/TUqM8Z
Nuclear
Program & Sanctions
The Australian: "Australia is
imposing new sanctions against Iran in a fresh effort to pressure it into
abandoning its nuclear program. Foreign Minister Bob Carr says the new
autonomous sanctions will restrict dealings with Iran's oil, gas,
petroleum and financial sectors. They will also restrict trade in gold,
precious metals, diamonds and new Iranian currency. 'These sanctions aim
to increase pressure on Iran to comply with nuclear non-proliferation
obligations and with United Nations Security Council resolutions,' Senator
Carr said in a statement on Wednesday. 'By introducing these sanctions -
alongside others such as those of the European Union - we seek to bring
Iran back to serious negotiations.'" http://t.uani.com/NHtv2a
FT:
"Iran is trying to find new flags of convenience for its fleet of
oil tankers after Tanzania and Tuvalu announced plans to deregister the
vessels owned by Tehran, hitting Iran's ambitions to use the tankers to
supply its Asian oil clients. Iran has over the past three months renamed
and replaced the flags of more than half of its fleet of very large crude
oil carriers - each capable of transporting roughly 2m barrels a day,
equivalent to the daily consumption of France - in an apparent attempt to
bypass US and European sanctions on its crude oil exports... Tehran has
dropped its own flag and those of Malta and Cyprus and instead has since
July run the flags of Tanzania and the Pacific island-state of Tuvalu.
But both countries, under pressure from Washington and Brussels, have now
announced they would deregister the vessels owned by NITC, formerly known
as the National Iran Tanker Company, forcing Iran to look for a
replacement. Under international law, vessels need to be registered - and
flagged - by a country." http://t.uani.com/SjRKad
Reuters:
"The small South Pacific island nation of Tuvalu will stop allowing
ships owned by Iran to operate under its flag after U.S. lawmakers
accused the country of running afoul of U.S. sanctions. Lawmakers had
called for the U.S. government to take action against the Tuvalu Ship
Registry for re-flagging 22 Iranian vessels, citing a recently passed law
that authorized sanctions against anyone who re-registered Iranian oil
tankers. Reflagging ships masks their ownership, which could make it
easier for Iran to obtain insurance and financing for the cargoes, as
well as find buyers for the shipments without attracting attention from
the United States and European Union. After initially rebuffing calls to
end the practice, the Tuvalu registry said it has started de-registering
all National Iranian Tanker Company vessels and the process would be
'completed in the shortest time practicable.'" http://t.uani.com/PcJ81M
Reuters:
"China's crude oil imports from Iran fell nearly a third in July
from an 11-month high in June, ensuring that the world's second-largest
oil consumer continues to meet the terms of a waiver from the United
States on financial sanctions... China bought 1.93 million tonnes of
Iran's crude in July, equivalent to about 454,500 barrels per day, against
632,618 bpd in June, data from the General Administration of Customs
showed... China's purchase represents about 41 percent of Iran's
estimated total exports of 1.1 million bpd in July. However, the average
of June and July imports was around 540,000 bpd, mostly in line with
contract volumes. Imports in the first seven months stood at 433,450 bpd,
or 22 percent below levels a year ago, principally because of sharp
first-quarter cuts made as China and Iran wrangled over contract
terms." http://t.uani.com/Qq5xaF
Dow Jones:
"PSA Peugeot Citroen SA and hundreds of smaller firms are feeling
the sting of sanctions against Tehran as the French government withholds
220 million euros set aside by an Iranian bank for future payments for
exports, due to a fear of harming Peugeot's alliance with U.S. auto-maker
General Motors Co. (GM). The holdup has also dealt a blow to smaller
companies by preventing them from fulfilling and receiving payment for
pledged deliveries to Iran of European goods not under sanctions. It highlights
France's struggle to balance the interests of its companies against the
desire to apply international pressure over Iran's disputed nuclear
program. The French Treasury has refused to release any of the money
previously set aside in a Bank Tejarat account in Paris to guarantee
payments for exports. The deliveries had been committed before the
European Union introduced sanctions on the Iranian commercial bank on
Jan. 23, people familiar with the matter said this week." http://t.uani.com/O1ptlX
Reuters:
"Iran's state grains agency GTC has in the past week discreetly
purchased around 400,000 metric tons of milling wheat, largely from the
European Union, Baltic Sea and Black Sea regions, European traders said
on Tuesday. Some traders thought up to 500,000 metric tons could be
involved. Iranian wheat imports are usually handled by the private sector
but the state had to step in and help with purchasing earlier this year
because of the disruption to trade financing caused by Western sanctions
aimed at Iran's disputed nuclear program." http://t.uani.com/MMxcGE
Foreign
Affairs
WSJ: "The
U.S. Treasury Department's sanctions enforcement arm granted select
non-profits 45 days to collect funds for victims of strong earthquakes in
Iran. Since the Aug. 11 temblors hit northwestern Iran, Washington has
said it would allow assistance to reach the Iranian people; Tehran has
rejected the offer. More than 300 people were killed and thousands were
left homeless from the 6.3 and 6.4 magnitude earthquakes. 'The general
license is a demonstration of [the Obama] administration's commitment to
supporting the Iranian people affected by this tragedy, and responds to
the American people's desire to provide immediate assistance,' the
Treasury Department said in a statement." http://t.uani.com/SSzYZ8
Opinion &
Analysis
David Ignatius in
WashPost: "As Israel and Iran entered this summer of
confrontation over Tehran's nuclear program, the Iranians were also
conducting talks with the United States and other leading nations to seek
a diplomatic alternative to war. Since then, the rumors of an impending
Israeli military strike have grown almost daily, but whatever happened to
the negotiations? The answer is that the 'P5+1' talks with Iran have been
in recess during the Muslim holy month of Ramadan, but contact is
expected to resume soon between the top negotiators. Talking with Iranian
and U.S. experts, I don't hear any hint of a breakthrough that would ease
the war fever, although some useful new ideas have been floated. The
diplomatic track has been frustrating to U.S. officials, so far. But it
remains important because the military alternative is so fraught with
dangers - not least for Israel and its long-term goal of preventing the
Iranians from having nuclear weapons. An Israeli military strike might
set the Iranian program back several years. But it would probably shatter
the international coalition against Iran, galvanize support for the
mullahs at home and in the region - and thus might make Iran's eventual
acquisition of a bomb even more likely... By the end of August, Catherine
Ashton, the European diplomat who is the chief negotiator for the P5+1,
will likely talk by phone about next steps with Saeed Jalili, the
representative of Iran's supreme leader. The possibilities include
another technical meeting of experts or deputy negotiators, or a full,
top-level negotiating session. The P5+1 nations (the United States,
Britain, France, China, Russia and Germany) are still discussing their
bargaining position. The consultations quickened last week with a trip to
Beijing, Moscow and London by Wendy Sherman, the under secretary of state
who is the top U.S. negotiator. The six countries agreed to continue
working together despite some disagreements about tactics: 'At the end of
the day, we will proceed in unity,' said a senior administration
official... Unofficially, Iranians have signaled that they would be ready
to export their stockpile of 20 percent uranium and cap future enrichment
at 5 percent. This comes closer to meeting U.S. concerns, but it still
leaves Iran with a big stockpile of about 6,000 kilograms of low-enriched
uranium that could fuel a breakout - to 'dash' toward a bomb. It's this
ability that most worries Israel." http://t.uani.com/SjRKad
Thomas Joscelyn in
The Weekly Standard: "In the fall of 2011, the Obama
administration revealed that American officials had discovered an Iranian
terrorist plot against Saudi Arabia's ambassador to the U.S. Working
through a local emissary, Iranian Revolutionary Guard Corps (IRGC)
officers planned to hire members of a Mexican drug cartel to snuff out
the ambassador at a local eatery. Little did the Iranians know that the
drug dealers' hit man they sought to hire was, in reality, an informant
for the U.S. government. In its complaint against the operation's alleged
point man, a used car salesman named Manssor Arbabsiar, the Department of
Justice (DOJ) revealed that the assassination plot was just one of a few
contemplated attacks. In a footnote, the DOJ explained that
Arbabsiar and his co-conspirators 'had discussed the possibility of
attacks on a number of other targets.' The complaint continues (emphasis
added): 'These targets included foreign government facilities associated
with Saudi Arabia and with another country, and these targets were
located within and outside of the United States.' Although the nation described
as 'another country' wasn't named in the complaint, the press reported
that it was, unsurprisingly, Israel. In an interview published on
WTOP.com last week, the Israeli ambassador to the U.S., Michael Oren,
confirmed that Israeli interests were targeted. Oren explained that, in
addition to targeting the Saudis, Iran sought to strike Israel's embassy
in Washington. 'They also planned to blow up the Israeli Embassy, my
embassy in this town,' Oren told WTOP. Oren added that he learned of the
plot against the Israeli embassy in 'real time,' just as the American
public began to hear the details of the IRGC's machinations. Court
documents reveal that the Iranians allocated $1.5 million for the plot to
assassinate Saudi Arabia's ambassador, but $5 million overall for the
plots Arbabsiar was allegedly coordinating when he was arrested. That
means that the bulk of the money, $3.5 million, was allocated to plots
other than the plan to assassinate Saudi Arabia's ambassador." http://t.uani.com/PDWbvm
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