Iran wants to buy Russian grain for the Dollar

Iran is in talks with Russian traders to buy grain for rubles.

Over the past two weeks, as reported by Reuters, Iran has purchased 1.1 million tons of grain. For comparison — in 10 months of 2011, the country bought 3.7 million tons.

 Previously, the Western press has reported that Iranian ports are unbalanced bulk carriers with a grain (in the beginning of the week, according to the Wall Street Journal, there were 12), as the Iranian companies can not pay for the goods

According entered the EU, U.S. and UN sanctions against Iran, the accounts of Iranian banks and financial organizations in these countries should be frozen. The same applies to financial institutions (not necessarily Iranian), which co-operate with the Central Bank of Iran.

Experts explain that the first sanctions affect traders, bankers, marine transportation companies and insurers.

Options for maneuver of the Iranian companies enough, analysts say, from barter to offshore.

"It can be a little bit nervous"

"Right now, Iran is trying to enter into barter deals to pay oil and gold, — says Irina Vorobiev expert" 2K Audit — Business Consulting. "- Besides, Iran can pay for deliveries in other currencies, such as the yuan, rupees, rubles."

Pay in dollars and euros Iran can not, but he and the currency is not needed, says Dmitry Pushkarev, director of financial and economic expertise 2trade.ru: "These currencies are needed to purchase goods from the countries issuing, and with the U.S. and the EU, Iran there is no trade. "

Imported goods for Iran becoming more expensive as the devaluation of the national currency. This, in turn, is due to difficulties in obtaining money for the supply of oil, as transfer payments to the accounts of Iranian banks for energy supplies foreign companies can not because of the sanctions.

For example, the finance minister of India had earlier said that considering the option of alternative schemes of payment for Iranian oil (in India is 16% of Iranian oil) in rupees and barter agreements as to pay through Turkish and German banks became impossible.

In October 2011, Reuters reported with reference to Indian media reported that pay for Iranian oil in India was going through the accounts of "Gazprombank". But then the unnamed source said that it was only about the possibility of opening accounts in India "Gazprombank" and the debt for the supply of crude oil India repaid by the Turkish Halkbank.

To buy grain from the Russian traders for rubles, open ruble correspondent account in Iranian banks. In economic purposes it is inconvenient to Tehran, said the director of the Moscow office of Tax Consulting UK Edward Savulyak as to accumulate a large amount of rubles in their accounts to Iran does not make sense.

But from a political point of view "can be a little bit nervous because of the unstable exchange rate, but to get the oil or corn contract, and most importantly — a guarantee of its performance," — said the expert.

 

Iran is in talks with China’s oil supply payment in RMB. In this country takes fifth of Iran‘s oil exports.

If the demand for the dollar in the world will fall at least slightly, the decline and ensure the dollar, says Dmitry Pushkarev. "This is a direct threat to the economic security of the United States, and in this regard oil is a secondary reason for the conflict between the U.S. and Iran," — said the expert.

Russia will look for opportunities to supply grain to Iran, I’m sure Irina Vorobyov. "The Russian financial institutions are willing to finance these deals, since it is possible to make good money," — said the expert.

According to Edward Savulyak, with the percentage of the transfer will operate a small part of the banks. Large payments to hundreds of millions of dollars Iranian companies will not spend a small organization.

"Banks remain quite respectable in appearance, large with good ratings. Other words, I allude to the state-owned banks or so" — suggests the expert.

By aligning payment with Federal Financial Monitoring Service, or the central bank, the bank can not get out for the payment. And when checking the missed payment will be present as an error of a single person, said Savulyak.

"In the debriefing even license may not be taken away, and get off the dismissal particular Ivanov," — said the expert.

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