– 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:
– Germany’s delegate of INSTEX structure published a table from the US statistics centre showing that the volume of trades between two nations has been doubled since US withdrawal from JCPoA. This is while united states banned EU companies from a legit trade with Iran. Just over 2018, US exports to Iran topped 435 million dollars and Iran has exported a figure of 70 mn overseas that resulted in a positive trade balance of 367.5 million dollars. Below picture has the details:
– 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.
– After months of pointless debates on the formation of an organized official Iranian FX market, where pricing is based on market forces only and all market participant including exchange houses, importer, exporters and retail side demands will be addressed with a fair market mechanism, now unofficial sources
– In its latest meeting held last Thursday, the Financial Action Task Force decided to grant Iran another grace period of 4 months to amend its financial structure with regards to the committee global standards and join CFT convention. Stressing that this would be the last chance for Iran, the council praised Iran’s actions so far, however,
– 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 previous shortlist announced by the US exempting 8 countries from sanctions on Iran Oil Exports, now experts believe that this figure could be reduced for the next time as the closing date approaches. Speculations have that only 4 nations including China, India, Turkey and South Korea may be exempted from buying Iranian oil as the US fails on zeroing oil exports of the nation. This will keep Iran oil exports above 1 mn barrels per day and Italy, Taiwan and Greece would no longer have access to Iran oil.
– 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.