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Monday, June 16, 2008

Tehran pulls $75 billion from EU banks UPDATE: before sanctions

Fearing expanded sanctions, Tehran pulled $75 billion from EU banks on the orders of President Mahmoud Ahmadinejad. The money was either wired back to Iran, transferred to Asian banks or converted into gold.
The report in Shahrvand-e Emrouz stated that "About $75 billion of Iran's foreign assets which were under threat of being blocked were wired back to Iran based on Ahmadinejad's order."

"Part of Iran's assets in European banks have been converted to gold and shares and another part has been transferred to Asian banks," Mohsen Talaie, Deputy Foreign Minister in charge of economic affairs, was quoted as saying.

The UK's Daily Telegraph reported last week that Iranian assets held in Europe were being funneled back to Teheran using financial intermediaries in Dubai.
/That'll show him.


Looks like Iran pulled that money out just in the nick of time.


At 7:57 PM, Blogger What is "Occupation" said...

what the islamic entity uses money and banks?

how much does it cost to replace a gasoline refinery?

I'd destroy that tomorrow if i could....

At 11:29 PM, Blogger NormanF said...

Iran is certainly taking the threat of financial sanctions seriously. Its has its money back but no wherewithal to buy the kinds of things it wants from the West. So while they may have gotten their money out in the nick of time, it doesn't leave Teheran at all facing an auspicious international climate.


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