Insider news & Analysis in Iran

By: Iran News Update Staff

Several news outlets reported on Friday that Iran’s oil exports had come fallen to their lowest level since October, bringing them closer to the limits that were imposed as part of the interim agreement between Iran and the P5+1, which was signed by both sides in November and went into effect in January. But with the interim period ending on the July 20 deadline for a final agreement, this late reduction will not affect Iran’s ability to comply with that deal.

It is well known that Iran has widely engaged in various sanctions-defying activity, in partnership with other countries that either depend upon its trade or maintain diplomatic and military alliances with it. Specific strategies include bartering in place of transactions that would formerly have passed through US banks, and laundering money through a variety of financial institutions.

(Reuters) -- A United Nations expert panel has concluded that a shipment of rockets and other weapons that was seized by Israel came from Iran and represents a violation of the U.N. arms embargo on Tehran, according to a confidential report obtained by Reuters on Friday.

Reps. Ed Royce (R-CA) and Eliot Engel (D-NY) – respectively the chairman and ranking member of the House Foreign Affairs Committee – on Tuesday released the text of a bipartisan letter that they indicated would soon be sent to President Barack Obama “noting that Congress played a central role in enacting sanctions against Iran and informing him that any long-term sanctions relief for Iran requires Congressional action,” the latest in what has become a back-and-forth between the White House and Congress over the degree to which lawmakers should be involved in the implementation of any agreement between Washington and Iran over the latter’s atomic program.

Forbes- Emanuele Ottolenghi: Is Iran using virtual currency and other new payment methods to circumvent financial sanctions?

As recently revealed by an exclusive Reuters report on Iran’s procurement efforts, a UN panel in charge of monitoring sanctions’ implementation believes that Iran may have “learned how to outsmart security and intelligence services in acquiring sensitive components and materials.” Iran not only knows how to cover the tracks of its procurement; its agents have figured out how to bypass financial sanctions as well. They appear to have learned from organized crime how to launder money and move illicit revenue across borders. 

The world is looking forward to the resumption of much different negotiations later this month when Iran and the five permanent members of the UN Security Council plus Germany come together for a new round of nuclear talks. But right now, these powers remain in a relatively quiet phase of the process.

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