– Unconfirmed sources at Washington post announced that president Trump of the US is to end Iran Oil sanctions waivers for good from May 02, 2019 and no longer grant exemptions to any countries despite their oil imports needs. KSA and UAE are in charge of compensation of the supply-side in the oil market, however, the global price of Brent crude hiked to a new high of +74$ per barrel just minutes after the news came out.
– After a couple of unsuccessful attempts of crude oil offering on Iran Energy Exchange, NIOC is to sell oil for the seventh time on IRENEX with 5 major changes in the bid conditions. Considering to be the last tender of 1397, the national oil company grants buyers the following incentives hoping this time it doesn’t fail:
– Iranian parliament votes for rationing of essential goods in the new year coming as sanctions pressures hit new levels. After failing of preferred FX dedication policy on controlling the price levels, now senators obliged the administration to go back 30 years and re-establish the rationing schemes for scarce and essential needs of Iran economy. President Rouhani’s administration shall issue electronic rations with a preferred USD/IRR rate of 42,000 in order to protect less fortunate revenues deciles.
– Unconfirmed sources have that it is highly possible for FATF to leave Iran another 4 months joining the CFT convention and implement anti-money laundering and anti-terrorism financing amendments accordingly. The task force meeting held just the other day was apparently positive on Iran actions that are taken so far, however, they have serious warnings this time on their next statement to be published on Thursday.
– After the ratification of the first official regulatory framework for crypto-currencies by the Central Bank of Iran, now Iran Fara Bourse is ready to perform the first asset-backed ITO (initial token offering) in a regulatory sandbox which redeems any need for a change in rules of law. Asset-backed ICOs will be under the supervision of SEO since it is related to tokenization of listed securities. CBI shall depict a framework for other types of these cryptos backed by FX, precious metals, etc.
– As the maturity dates of 20% bank deposits issued last year are closing in, now Iran Central Bank prepared a plot to reduce the risk of these massive funds flowing into parallel investment markets. The CBI is to extend the period of these certificated for another year yet with an 18% interest rate and a premature redemption rate of 10%. The important part is
– Iranian parliament’s research centre proposed a plan to tax banking deposits interest income for the coming year. According to the proposed plan, a 25% income tax shall be imposed on the Iranian Banks interest payments to depositor which is expected to make a revenue line of minimum IRR 100,000 bn (USD 833.33 mn – USD/IRR 120,000) for the administration.
– After the official inauguration of Europ Union’s Iran related SPV (INSTEX) there were rumours that EU members obliged Iran to join the CFT convention in order for the vehicle to be pragmatic. A thorough read of EU statements show that Iran is only expected to adhere to JCPoA clauses, however,
– On Friday and after a long period of delay, EU members officially announced the inauguration of their Iran related SPV, named INSTEX. Foreign ministers of UK, France and Germany noted that the INSTEX is to engage in trades of humanitarian goods at first yet it will grow into sanctioned trades after a while.
– After EU reneged on the announcement of the official inauguration of Iran related SPV due to an apparent disagreement between Italy and Spain, now the German foreign affairs minister told the press (by unconfirmed sources) this structure will only cover trades of goods that are not sanctioned by the united states. This is, if true, in direct violation of the SPV ultimate goal to circumvent the US sanctions after its withdrawal from JCPoA. The FX and gold coins markets reacted to this news fast and once again went rogue in price hikes.