Saturday, March 17, 2012

US Exporters to Sell 220,000 tons of Wheat to Iran despite Sanctions

http://english.farsnews.com/newstext.php?nn=9012152579


TEHRAN (FNA)- US sources announced that despite the unilateral sanctions
imposed by Washington against Tehran, Iran is close to completing purchases
of 220,000 tons of wheat from American exporters due to be shipped as early
as April.

The US said Iran has purchased 60,000 tons of American wheat, reopening
grain trade ties between the two countries amid Washington's tough sanctions
against the Islamic Republic. According to a Reuters report published on Friday, it is the first time in
three years that Iran has purchased US wheat. The industry sources said Iran
was close to completing purchases of another 220,000 tons to be shipped as
early as April, and in talks with exporters to buy another undisclosed
amount.

The price tag for the 400,000 tons of grain - 180,000 confirmed and 220,000
yet to be formally declared - could be around USD 160 million, export
sources said.

Trade sources said grain giants Cargill Inc. and Bunge Ltd were the likely
suppliers to Iran.

The two companies were also major sellers of wheat to Iran three years ago
when Iran, normally self-sufficient in wheat, bought nearly 7 million tons
on the world market, including 1.8 million tons from the United States.

Iran has purchased some 2 million tons of wheat from several origins since
February in an effort to build its food stockpiles.

Many US enterprises complain that Washington's wrong policies have cost them
the Iranian market which could, otherwise, bring them billions of dollars in
trade. Hence, a large number of the US companies and firms have started
business activities in or with Iran despite the opposition of the White
House leaders.

In December 2010, the New York Times reported that over the past decade,
United States-based companies have done billions of dollars in trade with
Iran despite sanctions and trade embargoes imposed on Tehran.

One American company, the daily said, was permitted to do work on an Iranian
gas pipeline, despite sanctions aimed at Iran's gas industry in particular.

The transactions have been made possible by a 2000 law that allows
exemptions from sanctions for companies selling food or medical products,
the report added.

Iranian officials have always stressed that the international and unilateral
sanctions against Iran have had no result but inflicting damage on the
western companies.



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IMRA - Independent Media Review and Analysis
Website: www.imra.org.il

Comment: You really believe that our Administration understands how dangerousthismove is? Do you think they understand how the leaders of Iran view us? We have simply reinforced their perception of us which in turn harms any possible shifts in Iran's goals and behavior.

1 comment:

Anonymous said...

This information is our answer on how to reduce gas prices. Its simple, they charge us well over $120 a barrel for oil, and we charge them about $8 for a bushel of grain. Now, lets raise our grain prices in reflection of how they stick us on oil prices. If they dont like it, tell them to "Eat your oil".