{"id":4919,"date":"2015-01-27T21:22:39","date_gmt":"2015-01-28T02:22:39","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4919"},"modified":"2015-01-27T21:22:39","modified_gmt":"2015-01-28T02:22:39","slug":"iran-drops-dollar-as-congress-threatens-more-sanctions","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4919","title":{"rendered":"Iran Drops Dollar As Congress Threatens More Sanctions"},"content":{"rendered":"<h3><a href=\"http:\/\/oilprice.com\/Alternative-Energy\/Nuclear-Power\/Iran-Drops-Dollar-As-Congress-Threatens-More-Sanctions.html\" target=\"_blank\">Iran Drops Dollar As Congress Threatens More Sanctions<\/a><\/h3>\n<p>The clock is ticking on the Iranian nuclear deal, but it may all be for naught. A meddling Congress aside, Iran appears to lack faith in US President Barack Obama\u2019s ability to ease long-standing sanctions and is cutting what ties it can.<a href=\"http:\/\/www.tasnimnews.com\/English\/Home\/Single\/630236\">According to<\/a>\u00a0Iran\u2019s Tasnim News Agency, Iran no longer uses the US dollar in trade with foreign countries. Instead, Iran employs other currencies like the Chinese yuan, euro, Turkish lira, and Russian ruble, explained Deputy Head of the Central Bank of Iran Gholamali Kamyab.<\/p>\n<p>In November, Iran and six world powers \u2013 the United States, Great Britain, China, France, Germany, and Russia \u2013\u00a0<a href=\"http:\/\/www.usatoday.com\/story\/news\/nation\/2014\/01\/12\/obama-iran-nuclear-deal-jan-20\/4440539\/\">agreed<\/a>\u00a0on a six-month preemptive deal to restrict Iran\u2019s nuclear program. Per the terms of the arrangement \u2013 which entered into effect on January 20th \u2013 Iran will limit its uranium enrichment to peaceful levels and reduce its stockpile of already enriched uranium. Of course, a long-term agreement has yet to be made, though Obama has\u00a0<a href=\"http:\/\/www.nytimes.com\/2015\/01\/26\/opinion\/political-sabotage-over-a-deal-with-iran.html\">pledged<\/a>\u00a0a peaceful solution \u2013 and more sanctions if Iran fails to cooperate.<\/p>\n<p>For its part, the United States Congress does not plan to extend Iran the benefit of the doubt and prefers the threat of those sanctions now. The bipartisan duo of Republican Mark Kirk and Democrat Robert Menendez have\u00a0<a href=\"http:\/\/www.bloombergview.com\/articles\/2015-01-14\/exclusive-congress-moves-against-obama-on-new-iran-sanctions\">authored<\/a>\u00a0a bill that would impose several escalating rounds of sanctions on Iran\u2019s economy if they fail to agree to a long-term plan or break the stipulations of the current six-month deal. The bill is likely to hit the Senate floor in late February or early March, but may prove unnecessary if the talks stall sooner \u2013 and stall sooner they likely will.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Iran Drops Dollar As Congress Threatens More Sanctions The clock is ticking on the Iranian nuclear deal, but it may all be for naught. A meddling Congress aside, Iran appears to lack faith in US President Barack Obama\u2019s ability to ease long-standing sanctions and is cutting what ties it can.According to\u00a0Iran\u2019s Tasnim News Agency, Iran [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[5],"tags":[2961,441,579,827,834,1796,839],"class_list":["post-4919","post","type-post","status-publish","format-standard","hentry","category-geopolitics","tag-central-bank-of-iran","tag-iran","tag-nuclear-power","tag-united-states","tag-us","tag-us-congress","tag-us-dollar"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4919"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4919\/revisions"}],"predecessor-version":[{"id":4920,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4919\/revisions\/4920"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}