By Micah Halpern
I've Been Thinking:
Iran has announced through their media that all $100 billion of frozen assets are now unfrozen.
Most of the money was kept in banks in China, South Korea, Turkey, India and Japan. It sat and earned interest.
The Iranians are now accessing those assets.
Iran is now reconnected to SWIFT, a Belgian-based cooperative that transfers monies from bank to bank. For years no foreign banks were located in Iran so all funds needed to be transferred through SWIFT.
Much of the money will remain abroad. This is telling. It tells us that the Iranians are nor fearful that their funds will be frozen again in the future.
Keeping the money abroad makes it very simple for Iran to transfer dollars after they purchase the many, much needed, goods - like planes from France, that Iran needs and Rouhani plans to procure.
Watching how Iranian leadership conducts itself now that the sanctions against them have been lifted is an important key in understanding how Iran views the future.
Micah@MicahHalpern.com
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