Stephane Dion says Iran sanctions not good for Montreal’s Bombardier

Hassan Rouhani landed in Italy on Monday and within hours was striking agreements worth billions of dollars to modernize Iran’s infrastructure.

Trading sources on Wednesday cited preliminary fixtures being made by Glencore and Total for tankers to lift Iranian crude in February although it was still unclear if the deals had been concluded partly due to insurance issues.

But many foreign oil and services companies are holding back until some of the ambiguity about doing business with Iran is resolved. Dion has acknowledged that Iran has poor relationship with Israel, which is a Canadian ally, that’s why he said lifting sanctions will be carefully done to value allies and further prevent nuclear and military activities. “There is no shortage of those”. The swap, according to an American official, was a “one-time arrangement because it was an opportunity to bring Americans home”, should not be considered something that would “encourage this behavior in the future” by Iran, and that, while it was not directly related to the nuclear talks the USA and five other Western nations had successfully completed with Iran in July, the deal those talks produced “greatly accelerated talks about the prisoners”.

“Raising new sanctions on Iran right after lifting the previous ones vividly shows what the U.S.is aiming at”. “Iran’s regional influence is not as much dependent on money as it is on Tehran’s ability to exploit the growing instability around it. And that takes less funding than often assumed”. However the Office of Foreign Asset Control (OFAC) has established a favourable licensing regime for United States companies to sell, supply, transfer or export commercial aircraft to Iran, provided recipients are not those individuals or corporate entities on the Specially Designated Nationals (SDN) list. “This shows that the U.S., if they wish, can shred the recent Iranian-U.S. agreement like a scrap of paper”. That’s hard to do, Pfeil says.

Decades of sanctions have starved the Iranian economy and isolated Iran.

“This is a vicious theocracy”, she said. Of course, it is possible to find out which payment has gone where. As of now, Barrera said they’re monitoring the matter closely and nothing official yet has been communicated to them.

Carmakers PSA Peugeot-Citroen and Renault-Nissan are also moving to ink deals as they look to rebuild the presence in the Iranian market they had enjoyed before sanctions hit.

There was little fanfare in France for the new era being ushered in for Iran as Rouhani works to help his nation of 80 million emerge from isolation and raise its profile in the West, balancing ties with Russian Federation and China.

But many foreign firms remain wary of violating other sanctions that were imposed by the United States and have not been lifted.

To be fair, Team Obama repeatedly said its misguided nuclear accord “was never based on the expectations that it would transform the Iranian regime or cause Tehran to cease contributing to sectarian violence and terrorism”. That means using small banks with no significant operations in the US or even Iranian banks.

Many nations didn’t believe Iran, especially given the 1979 revolution.