Subscribe free to our newsletters via your
. Military Space News .


Subscribe free to our newsletters via your




















NUKEWARS
Iran sees $32 bn of unfrozen assets as sanctions end
By Ali NOORANI
Tehran (AFP) Jan 19, 2016


Iran will receive $32 billion of unfrozen assets after sanctions were lifted under its nuclear deal, the central bank said Tuesday, in a boost to an economy sapped by years of isolation.

The unblocking of funds, which had been held in foreign banks, comes after the UN atomic watchdog confirmed at the weekend that Iran had complied with measures in the July atomic accord.

The assets will be kept "in centralised and safe accounts" abroad, central bank chief Valiollah Seif was quoted by state television as saying, adding that the money could be used to pay for imports.

Seif said that $28 billion (25.8 billion euros) would go to the central bank and $4 billion "will be transferred to the state treasury as the share of the government".

Iran hopes that steps to ease its isolation, including the re-admission of its banks to the SWIFT system of international transactions, will inject new vigour into the economy.

- Recession and unemployment -

But opening up to the world cannot completely fix the economy, President Hassan Rouhani said Tuesday in a televised speech, warning that the "difficult road has just begun".

"Today is just the start for an innocent human who was kept chained unjustly by the hands and feet for 12 years," he said.

"Sanctions are gone but there is a long way between sanctions and development," he said, speaking to an economics conference in Tehran.

"Today, our main problem is unemployment and recession, the lack of a booming economy and many structural and economic deficiencies," he added.

Iran's economy suffered greatly under the international sanctions that since 2006 targeted the Islamic republic's nuclear programme and financial systems.

Under the previous hardline government of Mahmoud Ahmadinejad, inflation topped 40 percent.

But moderate Rouhani, whose election in 2013 heralded more than two years of nuclear negotiations with world powers, managed to curb inflation to 13 percent.

- Foreign investment -

Iran needs annual foreign investment of $30-$50 billion to reach an eight percent growth target and cash in on sanctions relief, the president said Sunday.

"Untapped potential in many industries indicates that domestic demand alone cannot drive the economy" towards that goal, he said, signalling a shift in policy.

Iran announced a major boost of 500,000 barrels per day in oil production on Monday -- a move Tehran had long planned for once its nuclear deal with world powers took effect.

The next budget starting in March is based on a projected oil price of $40 per barrel price and exports of 2.25 million barrels per day.

Iran, a member of the Organization of Petroleum Exporting Countries (OPEC), now produces 2.8 million barrels of oil per day and exports just over one million barrels.

Low oil prices and years of US and European Union sanctions that barred much of Iran's foreign oil sales hammered its income from crude.

But despite global prices falling below $30, Iran intends to increase production to recoup lost market share.

Tehran aims to seize the momentum of its thawing relations with the outside world to attract foreign investment.

EU foreign policy chief Federica Mogherini, who was actively involved in the negotiations that led to the nuclear accord, said Monday that she planned to travel to Iran soon.

"This opens the way for a major European Union investment in our bilateral relations that we will need to explore with the Iranian authorities to make sure this covers their interests, our interests and that we coordinate well among Europeans," she said.

.


Related Links
Learn about nuclear weapons doctrine and defense at SpaceWar.com
Learn about missile defense at SpaceWar.com
All about missiles at SpaceWar.com
Learn about the Superpowers of the 21st Century at SpaceWar.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
NUKEWARS
Nuclear watchdog chief in Iran for talks after deal
Tehran (AFP) Jan 18, 2016
International Atomic Energy Agency chief Yukiya Amano was due to hold talks in Tehran Monday on ensuring Iran's continued compliance with a nuclear deal the US and Iranian presidents hailed as a historic breakthrough. The UN's atomic watchdog said Amano would meet with President Hassan Rouhani and Ali Akbar Salehi, the head of Iran's Atomic Energy Organization, to discuss monitoring and veri ... read more


NUKEWARS
South Korea, Japan Should Host US THAAD Missiles: Cohen

Aegis Combat System upgrade gets Navy approval

Serbia requests missile defense systems from Russia

Cavalier AFS significant link to missile warning/space defense

NUKEWARS
Latest N. Korea sub missile test a 'catastrophic failure': analysts

France signs Aster missile upgrade contract

US imposes sanctions linked to Iran's ballistic missile program

Raytheon tests new seeker for Tomahawk cruise missiles

NUKEWARS
Germany to lease Israeli Heron TP UAVs

Ground broken on Gray Eagle UAS training facility

Saab delivering U.S.-made quadcopter drones to Swedish Police

Iraq drone strike mistake kills 9 militiamen: spokesman

NUKEWARS
General Dynamics MUOS-Manpack radio supports government testing of MUOS network

Raytheon to produce, test Navy Multiband Terminals

ADS to build one of two satellites for future COMSAT NG system

Thales and Airbus to supply French military satellite communications

NUKEWARS
Saab unveils Sea Giraffe 4A AESA naval radar

Indian Army likely to get K9 Vajra-T howitzers

Sotera to perform Information Operations Support for U.S. Army

Saab to provide more equipment for U.S. Army combat vehicles

NUKEWARS
NATO awards Latvian construction contracts

Flextronics exits bid for Israel Military Industries

Kuwait MPs approve extra $10 bn for arms

Sweden shuts defense export agency

NUKEWARS
China's Xi to visit Saudi Arabia, Egypt, Iran

Philippines plans flight-tracking system in disputed sea

Philippines seeks joint patrols with US in South China Sea

Polish leader presses NATO on permanent presence

NUKEWARS
Shiny fish skin inspires nanoscale light reflectors

FAU researchers show how mother-of-pearl is formed from nanoparticles

Nanodevice, build thyself

Nano-hybrid materials create magnetic effect




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News








The content herein, unless otherwise known to be public domain, are Copyright 1995-2016 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.