Iran withdraws $75 billion from Europe: report

[Eugene]

Source: Reuters

Iran withdraws $75 billion from Europe: report
Mon Jun 16, 2008 4:58am EDT

TEHRAN (Reuters) - Iran has withdrawn around $75 billion
from Europe to prevent the assets from being blocked under
threatened new sanctions over Tehran's disputed nuclear
ambitions, an Iranian weekly said.

Western powers are warning the Islamic Republic of more
punitive measures if it rejects an incentives offer and
presses on with sensitive nuclear work, but the world's
fourth-largest oil exporter is showing no sign of backing
down.

"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.

Iranian officials were not immediately available to comment
on the report in Shahrvand-e Emrouz, a moderate weekly,
which did not specify the time period for the withdrawals
which it said were ordered by President Mahmoud Ahmadinejad.

-snip-

Read more: http://www.reuters.com/article/newsOne/idUSDAH63024720080616

[bahrbearian]

1. Well, the Threats really seem to work, ,,,for Asian Banks.

[Spouting Horn]

6. and for the Oil Speculators...

[and-justice-for-all]

2. tic-tic-tic-tic....nt

[dipsydoodle]

3. Given current threats against them by the 2 G's

its hardly surprising. Wonder if the "other part" will stay / stayed in US$'s ?

It's such a shame that Brownie wasn't christened Gilbert........lol.

[cliss]

4. This is a story to watch.

Iran will simply move their funds to Singapore & Hong Kong banks. Now watch how the European banks fare from their "withdrawal" of $75 billion.
This story is beyond belief. These banks are already in trouble. This could push them over the edge.

Note to London banks: do Bush's bidding and YOU will pay.

[The Stranger]

7. Wouldn't it be better to integrate Iran economically to bring about change, much like was done with

China? China instituted some reforms (notwithstanding its recent Tibetan disaster) as a result of being integrated economically. Since the West needs Iranian oil so bad, why not make them our friends instead of constantly trying to hate them?

The not speaking to them, calling them names, bombing them, and then expecting them to like it when they are sanctioned is beyond the absurd.

Bush wants to create more terrorism. He is a terrorist and needs terrorists to justify his own existence.

[ensho]

8. agree, something to watch

nt

[Ian David]

5. Maybe, instead of talking this up to score political points, Bush should have made it a surprise?n/t