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TOP STORIES
German rail operator Deutsche Bahn [DBN.UL] and Deutsche
Telekom are ending projects in Iran after Washington imposed new
sanctions against Tehran and said firms doing business with Iran
would be barred from doing business with the United States.
German carmaker Daimler has shelved business plans in
Iran despite the European Union's best efforts to counter Donald
Trump's decision to reimpose sanctions on Tehran.
Iranian Auto parts manufacturers says 450 thousand
workers in this industry are likely to lose their jobs as a result of
Iran's foreign currency crisis. At the same time, Iranian media
report that rising prices of foodstuff and cost of housing on a daily
basis make life harder for most Iranians.
UANI IN THE NEWS
Despite its defiant warnings, Tehran will eventually
negotiate with Donald Trump-as long as Vladimir Putin mediates.
NUCLEAR DEAL & NUCLEAR PROGRAM
Iranian Supreme Leader Ayatollah Ali Khamenei has
admitted he made a mistake in allowing the country's foreign minister
to speak to his U.S. counterpart during negotiations that led to a
2015 international nuclear agreement.
SANCTIONS, BUSINESS RISKS, & OTHER ECONOMIC NEWS
The imposition of US sanctions is set to wreak a
devastating impact on the already battered Iranian economy and blame
for the increasing hardship is settling firmly with the Tehran's
"mad" regime, a leading trade expert has warned.
The vice president of Iran reiterated that Iran won't
negotiate with the United States, saying the U.S. is trying to make
Iran "surrender" by reimposing sanctions on the country,
according to the Fars News Agency.
With hotels facing mass cancellations, Iraqis in the
holy city of Najaf are being hit hard by US sanctions on neighbouring
Iran, which have forced cash-strapped pilgrims to stay home.
Iran's Oil Minister Bijan Zanganeh will attend the
September meeting of the Joint Ministerial Monitoring Committee of
OPEC and Russia and will probably press his OPEC partners to preserve
original member production quotas, S&P Global Platts reports,
quoting an Iranian oil ministry official.
Iran's Minister of Industry, Mines and Business says,
fluctuations in the local forex market in the past four months have
tripled the number of applications for import licenses worth $250
billion dollar. Describing the figure as "unbelievable",
Mohammad Shariatmadari has insisted that a "number of"
profiteering individuals are trying to "fish in troubled
waters", referring to the current currency and economic crisis.
Sanctions are not a vindictive method of destroying the
Iranian people but a tool to bring about a change in the state's
tyrannical policy. Should the Iranian government want relief from
sanctions, let it first cease destroying its citizens.
Iran recently announced plans to develop its own
national cryptocurrency in order to circumvent U.S. sanctions... Like
with the regime in Venezuela, which tried to launch its own
cryptocurrency earlier this year, this appears to be a desperate
attempt by Tehran to defy Washington while trying to usurp the
burgeoning growth of Bitcoin in Iran. Tehran's cryptocurrency pivot
likely is aided by Russia as part of a collaborative attempt to build
a new system for global financial transactions to help their
respective banks become "sanctions resistant." Ironically,
this authoritarian embrace of blockchain technology conflicts with
the ideals of libertarianism and censorship-resistance supported by
many cryptocurrency enthusiasts.
PROTESTS & HUMAN RIGHTS
The European Union has expressed serious concerns about
the continuing detention of Nasrin Sotoudeh, the prominent Iranian
human rights lawyer who is serving a five-year jail sentence. S
A prominent human rights lawyer in Iran, Nasrin
Sotoudeh, is facing accusations of espionage on top of charges
already leveled against her, Sotoudeh's lawyer says.
Lawyers for Iran's award-winning human rights advocate
Nasrin Sotoudeh said Wednesday that her five-year sentence on spying
charges was unlawful as she was never charged or given the chance to
appear in court.
The Iranian people have a message: We want our country
back.
IRANIAN INTERNAL DEVELOPMENTS
A municipal leader in the Iranian capital, Tehran, has
issued a stark warning about Iran's economic problems, saying a
"tsunami" of poverty is bearing down on society.
With growing public discontent about the deteriorating
economic situation in Iran, corruption - once seen as a taboo - has
become a source of discussion by the public.
A newly launched social media campaign is pressuring
Iranian officials to come clean about potential privileges their
children enjoy due to their influence and connections.
RUSSIA, SYRIA, ISRAEL, HEZBOLLAH, LEBANON & IRAN.
In Syria, it's increasingly clear that Iran and Russia
aren't getting along the way they did in 2015 when Moscow first
intervened to help keep President Bashar al-Assad in power.
Russian President Vladimir Putin may take part in a
summit with the leaders of Turkey and Iran at the beginning of
September, Kremlin spokesman Dmitry Peskov told reporters on a
conference call on Thursday.
A member of Hezbollah's central council warned Wednesday
that Lebanon might be headed toward a "national division
government" rather than the national unity government that the
prime minister-designate has been pursuing, the state-run National
News Agency reported.
Hezbollah-affiliated media released footage Sunday night
of clashes with IDF troops in 2005 after an infiltration of the
northern village of Ghajar.
TURKEY & IRAN
As most everyone knows by now, the Turkish lira is
struggling. On Monday, its value dropped to more than 7 lira to the
dollar before rebounding slightly. If Turkey's currency issues
continue, there could have far reaching implications for oil
markets-particularly when the US sanctions against the Iranian oil
industry take effect in November.
Erdogan is not the only autocratic leader to condemn
domestic and foreign enemies to deflect blame and attention from his
own failings. Iranian Supreme Leader Ayatollah Ali Khamenei and
Russian President Vladimir Putin have also blamed Western
"plots," fifth columnists, and "foreign agents"
for the countries' economic and political plights.
OTHER FOREIGN AFFAIRS
Though the presidents of Azerbaijan, Iran, Kazakhstan,
Russia, and Turkmenistan have long left the Caspian Sea summit,
several questions remain about the joint document dividing the sea
that they signed in Aqtau on August 12. Though some progress was made
and several longstanding issues resolved -- the major undecided
problem appears to be how to satisfactorily divide the maritime
borders of Azerbaijan and Turkmenistan with Iran.
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