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Stories
Reuters:
"Iran has significantly stepped up military support to Syrian
President Bashar al-Assad in recent months, solidifying its position
alongside Russia as the government's lifeline in an increasingly sectarian
civil war, Western diplomats said. Iranian weapons continue to pour
into Syria from Iraq but also increasingly along other routes,
including via Turkey and Lebanon, in violation of a U.N. arms embargo
on Iran, Western officials told Reuters on condition of anonymity.
Iraqi and Turkish officials denied the allegations. Iran's acceleration
of support for Assad suggests the Syrian war is entering a new phase in
which Iran may be trying to end the battlefield stalemate by redoubling
its commitment to Assad and offering Syria's increasingly isolated
government a crucial lifeline, the envoys said... 'The Iranians really
are supporting massively the regime,' a senior Western diplomat said
this week. 'They have been increasing their support for the last three,
four months through Iraq's airspace and now trucks. And the Iraqis
really are looking the other way.'" http://t.uani.com/Wf4LWJ
Reuters:
"The United States extended 180-day waivers on Iran sanctions to
Japan and 10 European Union nations in exchange for their cutting
purchases of the OPEC nation's crude oil, Secretary of State John Kerry
said on Wednesday. 'Today's determination is another example of the
international community's commitment to convince Iran to meet its
international obligations,' Kerry said in a statement... Renewal of the
waivers, known as exceptions, means that banks in the 11 countries have
been given a third consecutive 180-day reprieve from the threat of
being cut off from the U.S. financial system under the sanctions. The
move was expected as Japan, the world's third largest oil consumer,
slashed its imports from Iran last year by 40 percent to about 190,000
barrels per day, even as its total oil imports rose 2.7 percent." http://t.uani.com/Yd7rAm
Free Beacon:
"A growing number of United States companies have been forced to
disclose their business ties to Iran following the recent
implementation of a sanctions measure. More than 90 companies,
including a number of U.S. companies, have scrambled to file an 'Iran
Notice' with the Securities and Exchange Commission (SEC), and the
number of filings is growing each day. The filings follow the Feb. 6
effective date of the Iran Threat Reduction and Syria Human Rights Act,
a comprehensive sanctions measure that includes a provision requiring
any company listed on the U.S. stock exchange to detail contact with
Iran. Those who have submitted an Iran Notice thus far include
financial heavyweights such as Citigroup Inc. and JP Morgan Chase &
Co., snack food giant PepsiCo, and energy giants ExxonMobil and BP.
Other big name companies that have disclosed ties to Iran include the
drug manufacturer Pfizer, resort giant Hyatt Hotels, travel company
JetBlue Airways, clothing giant Neiman Marcus, and the media company
Thomson Reuters. The Iran disclosure mandate has cast an unprecedented
spotlight on companies that continue to deal with Iran despite
increasingly tough sanctions measures meant to isolate the Islamic
republic." http://t.uani.com/Z5Y2No
Nuclear Program
AP: "Iran's vice
president says the Bushehr nuclear power plant has been disconnected
from the country's electricity grid because of a mechanical problem.
Fereidoun Abbasi, vice president and head of Iran's nuclear agency,
said there was a problem with the power plant's generator, according to
the official IRNA news agency Wednesday. Abbasi said the Bushehr
nuclear power plant is still in the experimental stage, and such
malfunctions can be expected. He said Russian contractors have brought
in equipment to fix the generator, and it is expected to be back in
operation in a few days." http://t.uani.com/12SImCy
Sanctions
WSJ:
"Mangalore Refinery & Petrochemicals Ltd., India's largest
importer of Iranian crude, might be forced to stop oil imports from the
Persian Gulf nation if it can't renew the insurance on its refinery, a
company executive said Thursday. Local insurers have been reluctant to
take the risk of providing insurance to refineries processing Iranian
crude, as they are mainly dependent on reinsurance in the overseas
markets to hedge their insurance risk. But global reinsurers are
staying away due to western sanctions on Iran-related financial
transactions. 'Look, insurance is an issue that may lead to a complete
halt of shipments from Iran for our refinery,' P.P. Upadhya, managing
director of the state-run company, said by phone. The company is still
getting supplies from Iran and has recently written to the federal
government to resolve the insurance issue, but Mr. Upadhya said:
'Naturally I would seek more crude from other sources if shipments from
Iran completely stops.' The insurance renewal is due in May." http://t.uani.com/10L3vcS
AP:
"Attorney General Peter Kilmartin [of Rhode Island] is pushing
legislation that would divest state pension funds from companies that
do business with Iran. Bills filed in the House and Senate would direct
the state to study its pension investments and identify companies with
direct or indirect holdings in companies with business operations in
Iran. Kilmartin spokeswoman Amy Kempe says it's not yet clear whether
Rhode Island's pension funds invest in any companies that do business
with Iran." http://t.uani.com/WpByY6
Terrorism
AFP:
"Arab interior ministers gathered for a security meeting in Riyadh
on Wednesday accused Iran of supplying 'logistic help to terrorist
operations' in Bahrain and Yemen. In a statement, the ministers
'strongly denounced logistic aid supplied by Iran to terrorist
operations in Bahrain and Yemen,' and congratulated security services
in both countries for 'dismantling cells and uncovering dangerous
terror plots.' In February, Sunni-ruled but Shiite-majority Bahrain
accused the Islamic republic across the Gulf of training, arming and
financing a 'terrorist cell' which the authorities had busted, an
accusation Tehran denied. Sanaa in January said a ship transporting 40
tonnes of weapons from Iran and destined for Shiite rebels in the north
of Yemen had been intercepted in the Gulf of Oman." http://t.uani.com/12SIQsl
Opinion &
Analysis
Securing America's
Future Energy: "Over the past decade, tight
supply-demand conditions in the global oil market limited the
willingness of Western nations to deal assertively with the Iranian
nuclear program. This dynamic began to change in 2012, when relatively
low global oil demand growth and strong increases in non-OPEC liquids
production created an opportunity for the international community to
tighten sanctions targeting Iran's oil sector. As a result of stronger
sanctions implemented by the United States and many of its European
allies, Iran's oil production fell to 3.0 million barrels per day
(mbd)-its lowest level since 1989. The coming months will provide a
critical, temporary window in which oil markets will support further
action. Surging non-OPEC oil production, combined with weak oil demand
growth in the United States and Europe, can enable the global market to
absorb the remainder of Iran's 1.0-1.5 mbd of crude oil exports through
additional sanctions or other means. The International Energy Agency
currently expects the 'call on OPEC' crude production to drop levels
last seen in 2009, while spare production in Saudi Arabia should
average at least 2.5 mbd through 2013. However, this opportunity will
not last indefinitely. The first nine months of 2013 will provide the
best opportunity for action, as oil markets tighten towards the end of
the year to accommodate increasing demand growth from emerging markets.
In Decision Point, SAFE and Roubini outline clear recommendations for
policymakers to enable the U.S. and its allies to remove Iranian
supplies from the market while minimizing volatility and price spikes.
While significant challenges and costs are associated with decisive
action to persuade Iran to abandon its nuclear program, these must be
considered against the costs of inaction: the presence of a nuclear
Iran in a Middle East region already fraught with instability will
likely lead to long-term risks to oil markets and costs for the United
States and global economy." http://t.uani.com/Z1yZIk
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Eye on Iran is a periodic news summary from United Against
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