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Top Stories
Reuters:
"Iran's inflation rate surged to 45 percent in June, official data
showed, adding pressure on squeezed Iranian households and an indication
of the huge task President-elect Hassan Rouhani faces to repair the
economy... Prices rose 45 percent in the month up to June 21 compared to
the same month a year earlier. They accelerated from 41.7 percent
inflation in the month to May 21. Prices rose 25 percent in the
corresponding calculation for last year, official figures showed...
Inflation averaged 35.9 percent over the 12 months through June 21, the
central bank said earlier this month. Inflation has resulted in
several-fold price increases of staple foods and fuel and the prospect of
finding a job is increasingly difficult because of slumping investment
and productivity. Independent analysts say the official figures do not
show the real picture and some estimate actual inflation is double the
official figures or more." http://t.uani.com/13dDDoP
Reuters:
"New York's top financial regulator has expanded a probe into
whether reinsurance companies have written policies on international
trade with Iran, which could potentially violate new U.S. sanctions. In a
letter posted to its website on Wednesday, the state's Department of
Financial Services asked reinsurers to explain their dealings with
entities and people that have ties to Iran. The department also asked
reinsurers to explain procedures in place to ensure compliance with the
Iran Freedom and Counter-Proliferation Act of 2012, which took effect on
July 1... Lawsky opened his probe after news reports that
Switzerland-based Glencore Xstrata Plc and Trafigura AG had supplied
thousands of tons of alumina to an Iranian firm that provided aluminum
for Iran's nuclear program." http://t.uani.com/149caVC
WashPost:
"Just over a month after he landed in Moscow and on the same day
that he may finally win permission to leave an airport transit zone and
officially enter Russia, an Iranian organization has invited Edward
Snowden to visit Iran. The state-affiliated Fars News Agency reports that
an Iranian NGO known as 'Justice-Seekers Without Borders' has written him
a letter asking him to come to Iran and 'elaborate' on any information he
has about U.S. espionage against the country. 'Since one of the United
States' illegal actions disclosed by you is spying on the Iranian
citizens, we invite you to visit Iran and elaborate on the US
administration's measures in this regard in detail,' the letter
said." http://t.uani.com/149ayv8
Sanctions
Bloomberg:
"Zurich Insurance Group AG is among companies being questioned by
New York's insurance regulator in a widening probe into compliance with
an Iran sanctions law, according to a person familiar with the matter.
The state Department of Financial Services is asking insurers to explain
their policies and procedures to avoid violations of the Iran Freedom and
Counter-Proliferation Act of 2012, according to the person. The act took
effect July 1... The regulator, led by Superintendent Benjamin Lawsky,
contacted a group of insurers in June about compliance with the law. That
group included Swiss Reinsurance Co. and Lloyd's of London. Besides
Zurich, other companies contacted in the newest letter are American
International Overseas Ltd., AXA Global Risks, and St. Paul Reinsurance
Co. Ltd." http://t.uani.com/17FC4EN
Deutsche Welle:
"Four men stand trial in Hamburg for having violated the Iran trade
embargo. A large-scale problem or an isolated case? With most countries,
exporting some sorts of special valves to them wouldn't even be worth a
mention. Yet exporting them to Iran is a different matter - it's banned
under the EU embargo. Kianzad Ka., Gholamali Ka., Hamid Kh. and Rudolf M.
stand accused of having purposefully violated the Iran embargo. They now
have to answer to those charges in front of a Hamburg court. The men are
believed to have worked on the delivery of the valves from Germany to
Iran and could also have helped set up deliveries from India to Iran. The
special parts were, according to the court, shipped to an Iranian company
that is responsible for the construction of a heavy water reactor in the
Iranian city of Arak. The same reactor could though be used for the
production of weapon-grade Plutonium." http://t.uani.com/17FANxm
Human Rights
HRW:
"Iran's judiciary should abandon charges and quash the verdicts
against 11 members of a Sufi sect convicted in unfair trials and informed
of their sentences in July 2013. Those in detention should be freed
immediately and unconditionally. The evidence suggests that all 11 were
prosecuted and convicted solely because of their peaceful activities on
behalf of the largest Sufi order in Iran or in connection with their
contributions to a news website dedicated to uncovering rights abuses
against members of the order. 'The Sufi trials bore all the hallmarks of
a classic witch hunt,' said Tamara Alrifai, Middle East advocacy director
at Human Rights Watch. 'It seems that authorities targeted these members
of one of Iran's most vulnerable minorities because they tried to give
voice to the defense of Sufi rights.'" http://t.uani.com/145iy7s
Foreign Affairs
LAT:
"Iran's expatriate filmmaker Mohsen Makhmalbaf is facing withering
condemnation in his homeland for attending a film festival in Israel, the
Islamic Republi's archfoe. The acclaimed director, considered a pioneer
of moviemaking in Iran, traveled to the Jerusalem Film Festival this
month to screen his latest work, 'The Gardener,' which explores the
conflict between two generations about the role of religion in society.
Javad Shamgdari, the head of Iran's official cinema organization, penned
a letter to the leadership of the Iranian cinema museum demanding the
removal of all of the director's awards and trophies. 'Makhmalbaf made
his first 10 films in Iran using the money of the state-run organizations
to learn cinema,' Shamgdari was quoted as saying by the semiofficial Mehr
news agency. 'Now he has fallen into the arms of the occupier, the
murderous Zionist regime.'" http://t.uani.com/13fwXaQ
Bloomberg:
"Iran is inviting foreign heads of state to attend the swearing-in
ceremony for new President Hassan Rohani next month, in a break with the
Islamic Republic's traditions. 'For the first time, Iran decided to
invite foreign dignitaries,' Iranian Foreign Ministry spokesman Abbas
Araghchi said. All nations except the U.S. and Israel are invited, he
told reporters in Tehran on July 23. Iran hasn't had diplomatic ties with
the U.S. for more than three decades, and doesn't recognize Israel.
Previous events were attended by ambassadors, according to state-run
Press TV... Araghchi did not say why this inauguration will be different.
The move may serve to illustrate Rohani's pledge to better engage with
the world after eight years under Ahmadinejad in which the Islamic
republic became increasingly isolated politically and economically."
http://t.uani.com/137x6kk
Guardian:
"Britain will not be sending a representative to next month's
inauguration of the new Iranian president, Hassan Rouhani, despite an
invitation from Tehran. A Foreign Office spokeswoman said the agreed
European Union position was that the ceremony on 4 August would only be
attended by Tehran-based diplomats. The UK has not had diplomatic
representation there since the British embassy was ransacked by a mob in
November 2011. Iran has said that leaders from around the world, with the
notable exception of the US and Israel, have been invited to the
inauguration - previously a low-key event." http://t.uani.com/13HeNlF
Opinion &
Analysis
Michael Makovsky
& Jonathan Ruhe in The Weekly Standard: "The
momentum to restrict Iranian oil exports has stalled, and it is time for
Congress to eschew a more gradualist approach and mandate zero oil
exports with zero waivers. This, along with more concrete military
pressure, could increase the otherwise slim chances for success in
expected new talks with Iran. U.S. lawmakers and Obama Administration
officials should not fear the impact on the oil market, which can manage
a cutoff of Iranian oil revenue better than can Tehran. Iranian oil
exports have fallen but plateaued, to less effect than commonly
understood. Oil exports dropped 22 percent in 2011-12 to 1.7 million
barrels per day (mmb/d), but exports in the first half of this year
roughly equaled those in the second half of last year. The drop last year
followed the European Union's oil embargo, and some countries cutting
back to receive waivers from the Obama Administration. Existing U.S.
sanctions allow waivers for countries 'significantly reducing' Iranian
crude purchases, which the Administration interprets as roughly a 20
percent cut. In fact, 2012 was quietly one of Tehran's most profitable
years ever in terms of oil export revenue. High oil prices meant Iran
earned about $60 billion, its fourth-highest annual earnings ever, and
only a 17 percent drop from its prior five-year average (which included
four of its five previous highest totals). This accounted for half of the
government's 2012 budget. Meanwhile, Iran has drawn extremely close to
acquiring the capability to produce a nuclear weapon before detection by
international observers. This suggests the urgency of shifting to a much
more aggressive posture. New legislation in the House of Representatives
to reduce Iran's exports by 1 mmb/d leaves the decision of how to implement
additional 'significant reductions' to Iran's customers. It also allows
waivers if these countries continue reducing purchases every six months.
This merely perpetuates the current trend of gradually increasing
pressure. Instead, lawmakers should target all Iranian oil exports and
permit no waivers, which is what the proposed Senate bill, the Iran
Export Embargo Act, does. The oil market can take it. Diminished Iranian
oil exports and increased global consumption in 2012 were more than
offset by increased available global supply-from rising oil production in
North America and the Middle East-so that global spare production
capacity actually grew a net 400,000 barrels per day to an estimated 2.9
mmb/d (based on Department of Energy data). Spare production capacity
influences prices. Current levels are much higher than in 2008, when
virtually no production cushion existed and prices skyrocketed, but
slightly slower than in 2009 when prices were lower." http://t.uani.com/17FABy2
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Eye on Iran is a periodic news summary from United Against
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