Remove sanctions on Iran to lower gas prices, deficit
Iran can have an effect on world energy and fuel. Fuel prices will go up dramatically, if sanctions are not removed: Expert
Hamsayeh.Net, April 20, 2011
Financial expert advises the US and its allies to lift the self-imposed set of sanctions supposedly aimed at curtailing Iran’s economy or wrestle with sustained oil prices at $150 plus.
In an interview with Washington Times, Iran’s Central Bank head manager, Mahmoud Bahrami warned of growing uncertainties over future energy costs and security if Washington continues on with its futile anti-Iran program in particular imposing economic sanctions against the Middle Eastern nation.
‘Iran can have an effect on world energy and fuel. Fuel prices will go up dramatically, if sanctions are not removed, particularly sanctions against banks and other economic sanctions, the price of oil will go above $150 a barrel.’ Bahrami warned.
In several of US states, the price of gasoline hit $4 per gallon which means motorists will have to pay a lot more for gas or lower down their daily level of social activities. In recent days, Brent Crude Oil price reached $123 and expected to move higher during the summer driving season. Back in 2008 when Western financial institutions experienced their biggest collapse, oil prices picked $147 in July that year.
US and its allies have imposed a series of self-inflicted sanctions against Iran so that this fiercely independent ancient Middle Eastern nation gives up its peaceful scientific nuclear program. But despite the sanctions Tehran successfully managed to advance its domestic nuclear program.
Branstad signs bill limiting investment in Iran
Chicago Tribune, April 20, 2011
Gov. Terry Branstad has signed a bill into law requiring that the state treasurer, public retirement systems and the board of regents not invest public funds with certain companies doing business in Iran.
Branstad signed the measure Wednesday. It restricts directly investing state funds in companies that provide power production-related services, mineral extraction activities, oil-related activities or military equipment to the government of Iran. The measure encourages, but does not require, that funds not be indirectly invested in those same areas.
The Legislatives Services Agency estimates the Iowa Public Employee Retirement System has between $11.9 million and $81.4 million invested in prohibited companies.
Implementing the law is expected to cost the Iowa retirement system at least $100,000 in the next fiscal year.