Middle East
Despite sanctions, Iran has billions stashed away in European banks: EU advisor
Earlier this week, an EU economic advisor said the Islamic republic still has several billions in euros stashed away in European banks despite of a dispute between Western powers over Iran s nuclear program. Mehrdad Emadi was responding to comments published in Iran s semi-official Fars news agency quoting central bank officials stating that Iran had withdrawn all of its money from European banks after the EU adopted a new round of sanctions targeting the country s oil industry.
Iran Stays Away From Nuclear Talks
The United States and its allies are rolling out a new set of sanctions against Iran on Monday, with the country s central bank and petrochemical industry as targets. The move tightened the vise on Tehran after a United Nations report on its nuclear activities, but demonstrated the continued limitations to international pressure.
Fraud Case Rattles Iranian Leader
Iran's Parliament moved against President Mahmoud Ahmadinejad's economy minister over a banking-fraud case, only to back off, in a roller-coaster session that showcased the battle between the president and the country's political establishment. he $2.6 billion fraud case, the largest in Iran's history, has become a powerful vehicle for rivals of Mr. Ahmadinejad to attack his administration.