Top Stories
Reuters:
"Dubai's trade with Iran plunged by a third in 2012, the Dubai
customs authority said on Monday, an indication of how much U.S.
financial sanctions are hurting Iranian business with the rest of the
world. Dubai, across the Gulf from Iran and home to tens of thousands of
ethnic Iranians, has long been a major commercial hub for Iran, serving
in particular as a channel for consumer goods imports into that country.
This role was damaged after U.S. sanctions, imposed in late 2011 over
Iran's disputed nuclear programme, made it legally dangerous for banks
around the world to deal with Iranian institutions. Banks in Dubai
sharply cut back Iran-related dealings. Two-way trade between Dubai and
Iran was roughly 25 billion dirhams ($6.8 billion) last year, said Ahmed
Butti Ahmed, Director General of Dubai Customs. That implied a drop of
about 31 percent from 36 billion dirhams in 2011. Sharp depreciation of
the Iranian currency, which lost more than half its value against the
U.S. dollar last year, hurt business in addition to the reluctance of
Dubai banks to get involved, Ahmed told a news conference." http://t.uani.com/10fnQpL
Reuters:
"The Senate showed strong support over the weekend for blocking
Iran's access to euros, as Congress continues to push for additional
measures to choke funding to Tehran's nuclear program. The Senate
unanimously passed a non-binding amendment to the budget plan early on
Saturday that seeks to stop Iran from using a loophole allowing it use
the European Central Bank's interbank payment system to gain access to
euros. The amendment, sponsored by Illinois Republican Mark Kirk and West
Virginia Democrat Joe Manchin, is symbolic, as the budget will not become
law. It follows a letter signed last month and sent to the European Union
by 36 senators, and could indicate the Senate would introduce legislation
later on the issue... 'Closing the euro loophole in our sanctions policy
is critical in our efforts to prevent Iran from acquiring a nuclear
weapons capability,' Kirk said. 'The U.S. Senate has spoken and now the
European Union needs to act.'" http://t.uani.com/X9EXwL
Reuters:
"The United States is concerned Iranian appeals to European courts
could loosen sanctions against Tehran, said a State Department official
on Monday who urged the EU to urgently find a way to allow judges to
examine secret intelligence evidence. Europe's General Court told EU
governments in January to lift asset freezes against Bank Mellat and Bank
Saderat, two of more than a dozen Iranian banks which the European Union
says are helping finance Tehran's nuclear program. Both the European
Union and the United States view sanctions against the Iranian banking
sector as a crucial component of economic pressure designed to force
Tehran to scale back the nuclear work, which they suspect has covert
military goals... More than 30 cases are still pending at the General
Court, including ones filed by the Central Bank of Iran and the National
Iranian Oil Company (NIOC). Those sanctions severely affected Iran's
ability to export oil and carry out international financial
transactions." http://t.uani.com/11H8onG
Nuclear Program & Sanctions
Wired:
"A cyberattack that sabotaged Iran's uranium enrichment program was
an 'act of force' and was likely illegal, according to research
commissioned by NATO's cyberwarfare center. 'Acts that kill or injure
persons or destroy or damage objects are unambiguously uses of force' and
likely violate international law, according to the Tallinn Manual on the
International Law Applicable to Cyber Warfare, a study produced by
international legal experts at the request of NATO's Cooperative Cyber
Defense Center of Excellence in Estonia. Acts of force are prohibited
under the United Nations charter, except when done in self-defense,
Michael Schmitt, professor of international law at the U.S. Naval War
College in Rhode Island and lead author of the study, told the Washington
Times. The 20 experts who produced the study were unanimous that Stuxnet
was an act of force, but were less clear about whether the cyber sabotage
against Iran's nuclear program constituted an 'armed attack,' which would
entitle Iran to use counterforce in self-defense. An armed attack
constitutes a start of international hostilities under which the Geneva
Convention's laws of war would apply." http://t.uani.com/10fpasA
The Hindu:
"ONGC Videsh Ltd and its partners Indian Oil Corporation (IOC) and
Oil India Ltd (OIL) had in 2009 dropped plans to develop the Binaloud oil
find in the Farsi offshore block as it found one billion barrels of
reserves commercially unviable... However, Indians remain in contention
for the Farzad-B gas find in the same Farsi block. But they haven't yet
signed a contract for the development due to US and western sanctions
against the Persian Gulf nation. In February 2012, Iran issued an
ultimatum to OVL to decide whether it would develop Farzad B, after the
company missed the November 2010 deadline that had been set for the
investment decision... Sources said OVL is yet to sign the development
contract as it is wary of participating in Iranian oil and gas sector for
fear of being sanctioned by US and EU." http://t.uani.com/ZTP2eQ
Foreign Affairs
Reuters:
"Saudi Arabia said on Tuesday that people it arrested on suspicion
of spying this month had direct links to the intelligence services of
Iran, its main rival for influence in the Gulf. A Saudi Interior Ministry
spokesman told official media that preliminary investigations - based on
physical evidence and statements by the suspects - had found that members
of the group had received payment for information. Riyadh announced a
week ago it had arrested 16 Saudis, an Iranian and a Lebanese on spying
grounds. The spokesman said the investigation was ongoing." http://t.uani.com/X9FY7T
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