ICBPS– The Islamic Republic of Iran (IRI) has planned to allow its citizens to invest in oil and its supply on local exchange to foil the U.S. sanctions. The Islamic government scheduled to sell oil bonds to people to raise cash.
IRI’s Supreme Council of Economic Coordination ratified a plan to enable members of the public to invest in oil on Iran’s capital market for the first time, declared the so-called moderate Hassan Rouhani.
The plan was announced by IRI’s authorities to look for ways to strengthen their economy pummeled by the Trump administration’s sanctions and widespread Coronavirus outbreak.
The government expects to tap a high level of liquidity or cash supply in its economy to snapback sanctions, the collapse in oil export conceded with the U.S. Maximum Pressure Campaign, and the COVID19 pandemic as IRI’s economy plunged into recession.
IRI’s regime is in quest of obtaining places to be investing and compensating its budget deficit by deceiving people to invest in the stock market and oil as Rouhani told his cabinet on Wednesday.
There are, however, no other details of how the plan would work, but state-run news agencies reported that it would involve pre-selling some 220 million barrels of oil — through the Islamic “Salaf” bonds — in Iran’s energy exchange, IRENEX. Whereas, the government already sells its crude and hydrocarbon products on IRENEX to domestic refineries, traders, and investors.
“The pre-selling would work in the form of the supply of ‘parallel oil futures’ whose price is defined based on the IRI’s exchange rate system”, according to the state-run Donya-e-Eghetsad website.
The Rouhani’s plan was introduced amid the Islamic Consultative Assembly (Majles) is set to summon Oil Minister Bijan Namdar Zangeneh to grill him on a list of 20 cases of “incompetency,” which Majles believes have dealt “serious damage” to the economy, and the Interior Minister Abdolreza Rahmani Fazli — for handling the government’s fuel price scheme, which sparked a series of nationwide protests throughout Iran.
As an economic relief, The Islamic Republic of Iran can keep its economy going for at least another year by collecting citizens’ foreign currency and gold, giving them “oil shares”, Centrist politician Hossein Marashi expressed during a meeting with Rouhani in earlier August. The next step in Marashi’s plan was buying back the shares from the people after three years, according to Radio Farda.
The same plan was introduced by the conservative Mahmoud Ahmadinejad that was never put into action.
Isn’t the IRI always in the pocket of the Iranian citizens? It’s a deceptive action by the regime to further plunder the nation. The Islamic regime looks to sell oil — which is a national resource — to the Iranians, even though depriving the people of their valuable natural resources as the major source of income.
The Islamic Regime of Iran is lining its own pockets from the citizens’ cash.
The plan, contrary to the IRI’s echo chambers propaganda, is only meant to fill the bank accounts of tyrants and kleptocrats to enrich the repressive regime and its terrorist proxy groups in the region.
IRI has always tried to adopt and implement policies and measures to control liquidity in the country and direct it to its treasury — where it has been spent on the regime’s ambitions in the Middle East rather than its people.