|
Iran Moving Assets Out Of Europe
Embroiled in a nuclear standoff with the West, Iran said on Friday it was moving its foreign assets to shield them from possible U.N. sanctions and flexed its oil muscles with a proposal to cut OPEC output."Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad," said a senior Iranian official, who asked not to be named. Central Bank Governor Ebrahim Sheibani was quoted earlier as saying Tehran had started shifting funds, but he sidestepped a question on whether the assets would go to accounts in Asia. It is far from clear how placing assets in Asia or anywhere abroad would protect them from being frozen as few governments or major banks would be willing to flout U.N. sanctions openly... Yet another incredibly dumb move. Not only would their money have been "safe as houses" in the EU, but nobody in Asia, except maybe Kimmie, will hold it for them against the wishes of the US. I'm sure several will volunteer, at astronomical interest rates, but when push came to shove will halt transactions until the moon left orbit, keeping the "float" in the meantime. Posted by: Anonymoose 2006-01-20 |
| http://www.rantburg.com/poparticle.php?ID=140327 |