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Iran, Pakistan After Barter Trade Deals' Mechanism

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Iran, Pakistan After Barter Trade Deals' Mechanism The Board of Governors of the IAEA Germany Is Working Hard to May Hold an Urgent Session to Reach the Point Where the First Discuss Iran’s Compliance With the Transactions Can Be Carried Out Joint Comprehensive Plane of Under a Special Trade Channel Being Action, Russia’s Representative to Set Up to Enable Trade Between IAEA in Vienna Mikhail Ulyanov Said Iran and European Exporters VOL. XXV, No. 6715 TEHRAN Price 20,000 Rials www.irannewsdaily.com SATURDAY, JULY 06, - TIR 15, 1398 2 4 8 DOMESTIC 3 DOMESTIC INTERNATIONAL SPORTS Reducing Nuclear Deal Iran, Iraq, Syria Agree Putin Wants Rome Nadal Defeats Commitments to Save It To Cooperate in To Help Mend Kyrgios in Bad-Tempered From Total Collapse Transport Section Moscow-EU Ties Wimbledon Duel > SEE PAGE 2 > SEE PAGE 3 > SEE PAGE 4 > SEE PAGE 8 Iran Slams UK Over Iran, Pakistan After Barter viewPoint By: Hamid Reza Naghashian..... Seizure of Oil Tanker Deterrence Power Even IRAN NEWS POLITICAL DESK Trade Deals’ Mechanism TEHRAN – Iran has slammed the UK’s illegal move to Without Having Nukes seize an oil tanker carrying Iranian oil in Gibraltar, Shooting down of the most sophisticated U.S. drone saying the move is tantamount to banditry. over the waters of Iran led to revelation of truths Following the illegal seizure of an oil tanker carrying among the remarks of analysts of the international Iranian oil by British Royal Marines in Gibraltar on political developments, and the most important part of Thursday, British Ambassador to Tehran Robert those analyses is and will be about Iran’s growing Macaire was summoned to the Ministry of Foreign deterrence power even without having weapons of Affairs later in the day. mass destruction like the nukes. According to Iranian Foreign Ministry statement, as After the U.S. President Donald Trump decided to the ambassador appeared before the Foreign Ministry, cancel a planned military response to Iran over shooting Director of the Third Department of Western Europe down of the U.S. drone, undoubtedly Iran showed its described the UK move as unacceptable, and called for unprecedented power in the region to the world and the immediate release of the oil tanker, given that it has especially to the U.S. and its regional followers. been seized at the request of the US based on the A proof to this claim is an article which was published information currently available. in the American daily Washington Post on Tuesday as Pointing to the fact that the oil tanker was sailing in the daily wrote, “Donald Trump’s threats against Iran the international waters, the Iranian diplomat described have had no impact on Iran’s behavior but they made the UK Navy’s measure as being tantamount to Iran take bolder steps against the U.S. interests because maritime banditry and stressed that Britain has no right the day before the threats, Iran had surpassed the limit on to impose its own unilateral sanctions or those of the the uranium supply permitted under the 2015 nuclear European Union in an extraterritorial manner against agreement and it showed no fear for revealing it decision the other countries. See Page 7 IRAN NEWS ECONOMIC DESK openly, and reiterated that its action was in compliance with the framework and articles of the JCPOA. This TEHRAN - Pakistan and Iran on Thursday discussed ways and means to enter into barter trade deal, besides happened after Europe failed to mitigate the effects of INSTEX Close to First removal of non-trade barriers. These issues came under discussion during the 8th meeting of Pak-Iran Joint Trade the U.S. sanctions and revealed its weakness. Committee which reviewed progress on issues relating to bilateral trade. The Pakistani team was led by Prime Iran defends its rights in its own style and this move can Minister’s Adviser on Commerce, Textile, Industries and Production and Investment Abdul Razak Dawood increase the rift between Tehran and Washington for Deal With Iran in Days whereas Iranian delegation was led by Reza Rahmani, Minister for Industries, Mine and Trade. waning the articles and paragraphs of the JCPOA.” Abdul Razak Dawood urged Iran to remove non-trade barriers to realize actual potential of bilateral trade as The newspaper continues, “Some analysts believe that POZNAN (Reuters) - French Finance Minister Bruno present level of trade between the two countries is far from actual potential. The Iranian Trade Minister the U.S. pullout of the JCPOA has weakened the U.S. Le Maire said on Thursday he hoped a special trade appreciated the Adviser’s stance on the bilateral trade issues and agreed to accelerate efforts to enhance trade with influence in Europe and even in some major part of the channel set up with Iran would complete a first, limited Pakistan in order to increase the economic well-being of people of both countries. world, and a united front which was and is considered by transaction in the coming days. He further added that being brotherly and neighboring countries the two countries should further strengthen the U.S. and Europe as a world community and could be Set up by France, Britain and Germany, INSTEX is a existing trade ties for the well-being of ‘our peoples’. He resolved to address all the issues which are hampering alive against Iran was sacrificed.” barter trade mechanism that aims to avoid direct bilateral trade and assured to create win-win situation for both the countries. The newspaper quoted John McLaughlin, former financial transfers by offsetting balances between The Adviser informed the delegation that Pakistan intends to increase the bilateral trade and economic ties. deputy director and acting director of the CIA, as importers and exporters on the European side. He underlined the importance of issues, pertaining to bilateral trade, which were discussed during Prime Minister’s saying, “The U.S. decision adds to the pressure on the The mechanism is aimed at making it possible for last visit to Iran and expected positive response from Iranian side. Europeans but should not push them to a decision on trade between European Union members and Iran to These issues include removing barriers which have made Pak-Iran PTA (signed in 2006) ineffective and working staying in or leaving the deal. See Page 7 continue in the face of stiff U.S sanctions since out barter trade mechanism in order to increase bilateral trade in agricultural/food products and pharmaceuticals. Washington quit a 2015 nuclear accord between Tehran Talking about barter trade, the Adviser asserted that to start barter trade, at the first instance both the countries and world powers last year. should select few items with a competitive advantage. In this regard, Pakistan can enhance export of wheat, Those sanctions have effectively suffocated Iran’s sugar, rice and fruit to Iran. Iran’s LPG Exports economy by clamping down on its oil sales. Iranian side acknowledged the fact that Pak-Iran trade relations are not matching the real potential. They emphasized “We want INSTEX to enter into force in a few days, the requirement of the constitution of a committee for barter trade. Both the countries have huge potential in agriculture and I hope that we will be able to operate in a few days. which is not yet exploited, they highlighted. Iran showed interest in import of 0.5 million tons of rice from Pakistan and On The Rise I hope the first transaction will be completed in a few asked Pakistani side to devise necessary mechanism for early shipment. days,” Le Maire told journalists at a meeting in Poland. The Iranian delegation extended its full support to work on removal of potential bottlenecks to increase trade LONDON (Dispatches) - Iran has loaded 573,000 “The first transaction will be a limited one, but this and jointly develop a way forward. Further, they also requested the Pakistani government to open more border tons of Liquefied petroleum gas (LPG) in June 2019, is a starting point and we expect INSTEX to be an points between Pakistan and Iran mainly at Ramdan, Pishin and Korak, which will further enhance bilateral trade. marking a 31 percent rise in comparison to May, and efficient tool,” Le Maire added. See Page 7 The Advisor also suggested removing various forms of taxation such as road and load taxes on vehicles/trucks a 46 percent increase compared to same month last which are crossing the borders to facilitate bilateral trade. See Page 7 layer, Kpler, a firm that tracks the movement of oil tankers, said. Nearly all of the Iranian gas exports, except 9 Turkey, Iran Aim to Keep Trade thousand tons, ended up in China, the report said. Last year, only two thirds of Iran’s gas exports Flow Via Financial Mechanism went to China. India Says Iran Oil Imports Not Stopped Liquefied petroleum gas (LPG) is Iran’s third ANKARA (Dispatches) - The U.S. sanctions on Iran NEW DELHI (Dispatches) - GIndicating that there is still some confusion in India’s position on stopping oil biggest export item after oil and petrochemical products. continue to raise concerns across the world, particularly imports from Iran in line with sanctions by the United States, the government said on Wednesday that it does The LPG export figure for last month is the largest among the main importers of Iranian oil. The U.S. not propose to cancel trade, including oil imports, from Iran. since August 2018. determination to oust Iran out of energy markets and Replying to a direct question on whether the government would “withdraw or discontinue” trade with Iran, Meanwhile, Iran exported 186,000 barrels of oil per reduce the Persian Gulf nation’s oil exports to zero have Minister of State for External Affairs V.
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