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Syria-Lebanon-Iran
Iran Withdraws Deposits From Swiss Banks
2006-04-04
Tehran, 4 April (AKI) - The Iranian government is reported to have withdrawn its financial deposits from Swiss banks after the decision by the UN atomic watchdog to refer Iran's nuclear case to the UN Security Council over Western fears that Tehran is trying to build nuclear weapons. Anonymous sources say that in the past few weeks, Iran has withdrawn 700 tonnes in gold reserves and 26 billion euros. The gold reserves were transferred to the Markazi bank, the central bank of the Islamic Republic, while the cash was deposited in banks in the United Arab Emirates.

Tehran decided to withdraw the deposits fearing that the UN Security Council might impose an international embargo on the country. Iran has rejected a Security Council statement approved on 29 March which called on Tehran to halt all its uranium enrichment activities, claiming its nuclear programme is solely for civilian use. The Council has the power to impose sanctions, though two veto-wielding members of the UN body - China and Russia - oppose the measure.
Posted by:Steve

#16  I'm behind, I guess. I thought Bill Clinton brokered the Dubai ports thingy.
Posted by: trailing wife   2006-04-04 23:00  

#15  They better return the toaster and cheap portable radio.
Posted by: Captain America   2006-04-04 20:37  

#14  Nah, it's GWTW. Along with about 2000 books.
Posted by: Matt   2006-04-04 20:22  

#13  Not to worry, did you save the telescope?
Posted by: 6   2006-04-04 19:59  

#12  #9 wasn't me.
Posted by: Matt   2006-04-04 19:57  

#11  It's man bites bong
Posted by: 6   2006-04-04 19:53  

#10  Matt, how do you feel about Mother's too much or too good?
Posted by: 6   2006-04-04 19:52  

#9  Jimbo, are you suggesting that the Dubai Ports deal was wrong to block because, supposedly, now we won't have as much "leverage" and "influence" with Dubai? I'll trade both for REAL homeland security any day...not the illusionary kind that comes from investing billions in a plaqued missile defense system that only serves Bush's buddies in the defense industry, and prompts countries like Russia to improve their missile systems (Topol-M). And in the end, who helped broker the Dubai Ports deal? Bush's dadddy. And he and HIS buddies stood to make millions from the deal. This administration must be tired from washing each other's backs all day and night. And by the way, this wasn't partisan politics, either. There were many, many Republicans opposed to this deal...ones who don't fly around the world trying to score their next cash fix. If the Iranians want to invest in Dubai, let them. I'm grateful that we're not.
Posted by: Matt   2006-04-04 18:55  

#8  needs a hijacking ...
Posted by: 3dc   2006-04-04 18:39  

#7  700 tonnes in gold isn't easy to move.
Posted by: SPoD   2006-04-04 17:51  

#6  hmmm now maybe the Demoidiots and the rest that opposed Bush on his dubai ports deal will get a clue.

All this momney went to the UAE/Dubai.

Yet we have far less influence and leverage on Dubai now. Perhaps Bush is not as dumb as many think.

Had he prevailed in that endeavor, would Iran have moved this money to Dubai? Or would they fear the ties that bind Dubai that they cant see?

We will never know.
Posted by: Jimbo19   2006-04-04 13:57  

#5  Didn't they pull out their gold a day or two ago?
Posted by: 3dc   2006-04-04 13:37  

#4  In WWII, Swiss bankers bought gold from Germany in exchange for convertible currency (Germany's currency was not accepted in international markets). I guess the WOT isn't working out well as WWII for the Swiss bankers.
Posted by: Darrell   2006-04-04 12:41  

#3  Oh yeah. Put all them eggs in one basket, baby.
Posted by: mojo   2006-04-04 12:25  

#2  The Swiss bankers must be crying in their fondue over this. I seem to be suffering from a major case of Schadenfreude over this -- I apologize to you all.
Posted by: trailing wife   2006-04-04 12:23  

#1  Interesting. That is actually/possibly a rational act. So from where I stand, it clearly identifies a weakness. The MM's don't want to lose their hard-earned stolen cash.
Posted by: Whiskey Mike   2006-04-04 11:50  

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