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How Embargo on Transfer of Funds into Iran Is Hurting Iranians Abroad

By
IFP Media Wire
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How Embargo on Transfer of Funds into Iran Is Hurting Iranians Abroad

For more than a generation, sanctions applied against Iran (to say nothing of the threats of all-out war) have disproportionately hurt ordinary people.

In the 2010s, relations appeared to be turning a corner. Under the Obama administration, a historic deal was struck. Iran would begin to scale back its nuclear program, and in return, America would lift sanctions that would allow Iran to trade most goods and capital freely.

Sadly, that progress was demolished in a few short years. In the same way a bully destroys a sandcastle, Donald Trump scrapped the Iran Nuclear Deal in 2018. In February 2020, he went further, successfully arguing for Iran’s placement on the FATF blacklist (Financial Action Task Force).

These restrictions included an embargo on the transfer of funds to/from Iran. Because of this development, Iranians abroad now have assets trapped in their home country. In today’s blog, we’ll explore the pain this has caused, and whether things will change in the foreseeable future.

 

Trump Administration’s Tough Stance on Iran

 

2016 marked a sea change in American politics. Contrary to the expectations of pundits, voters opted to elect Donald Trump, a billionaire best known for being the host of NBC’s The Apprentice.

He pulled off this colossal upset by playing to a wave of populist anger in the electorate. After campaigning to the left of Secretary Clinton, he morphed into a typical establishment Republican once in office.

From the Iranian point-of-view, this was a disastrous development. Rather than pull back from foreign aggression as promised, Trump instead adopted an extremely hawkish stance.

After ramping up involvement in Syria, he turned his attention to Iran. With neocon advisors like John Bolton in his ear, he tore up the Iran Nuclear Deal. Then, in November 2018, the Republican-controlled Congress applied fresh sanctions that, among other things, restricted US dollar transactions.

In September 2019, the American government accused Iran of involvement in a terrorist attack on Saudi oil facilities, which Tehran denied. This event gave the Americans further reason to escalate sanctions. These restrictions further tied the hands of Iran’s central bank.

However, the worst measures taken against Iran occurred just recently. In the early days of January 2020, American officials claimed that General Qassem Soleimani, leader of the IRGC Quds Force, was actively planning terrorist attacks against US positions in Iraq.

They used this rationale to justify assassinating him while he was on a peace mission in Iraq. This act triggered a retaliatory strike by Iran on an American military base.

Following these developments and after Iran’s failure to adopt the FATF standards, the OECD placed the Islamic Republic on the FATF blacklist in late February. This designation makes it next-to-impossible for banks and regulated companies to move cash in or out of Iran. Businesses and expats have been unable to send/receive funds even through regulated money transmitters.

 

Because of this, a volatile economic/geopolitical situation has been made much worse.

 

Iranian Expats Have Lost Contact with Much of Their Life Savings

 

This act has vastly increased pressure on the Iranian government. As usual, though, ordinary people have suffered the most. With no legal way for capital to flow in/out of the country, Iran has plunged into a deep recession.

People are out of work or have had their wages/hours cut. The economy contracted 4.8% in 2018, and by a brutal 9.5% in 2019. Unemployment has soared to almost 16.8%. The Iranian Rial has devalued by more than half, leading to out-of-control inflation. Business owners are finding it exceedingly difficult to import goods and pay vendors outside their beleaguered nation. Worst of all, Iran’s weakened position has left it ill-equipped to deal with an outbreak of coronavirus.

However, the pain isn’t limited to those inside Iran. After the signing of the Iran Nuclear Deal, America lifted many sanctions. Foreign direct investment flooded in, which caused GDP growth to soar to 12.3% YoY in 2016.

Many investors were Iranians who had left home for greener pastures. Once Trump dropped the hammer on Iran in 2018 and 2019, many had access to their capital cut off. While exact figures are hard to come by, pre-sanction foreign direct investment in Iran totalled 2.3 billion USD in 2017.

 

Sanctions Unlikely to Be Lifted Anytime Soon

 

Given that figure, it’s not unreasonable to conclude that at least HUNDREDS of MILLIONS of dollars are stranded inside Iran. So, the question then becomes: When will US-led sanctions be lifted?

If current headlines are any guide – not anytime soon. Even as the coronavirus pandemic rips through Iran, America has refused to lift drug import sanctions. At the same time, American officials have criticized the EU for not walking in lockstep with them.

Republicans in the Executive Branch and Congress are pushing Iran to abandon their nuclear program completely. As long as Iran continues to develop atomic technology (even for peaceful purposes), sanctions will remain in place.

At present, NO discussions on this matter are taking place. Should the Democrats take the White House later this year, their administration might be open to dialogue. However, if Trump gets re-elected, that possibility will shrink to near-zero.

 

Coronavirus and Iranian Sanctions

 

Iran could end up being the epicenter of COVID-19, the notorious pandemic which is hitting globally nowadays. A big part of it is due to sanctions, which president Trump has already mentioned will not be lifted under any circumstances, even on a temporary basis.

 

Ordinary Iranians Pawns in Geopolitical Chess Match

 

The impact of these sanctions makes sense from a geopolitical point of view. As tax revenue nosedives and the population gets restive, the pressure to conform to American demands escalates.

In the end, though, everyday Iranians are the biggest losers. They are the ones getting thrown out of work and paying 3-4x more for groceries. Outside the country, expat Iranians can no longer access a large portion of their net worth. Possibly worse than everything, there could be more dead in Iran in light of American sanctions.

Until reasonable leadership returns to Washington DC, little hope exists that these parties will come together to resolve this situation.

Iran Says COVID-19 to Peak in Autumn; No Vaccine in Sight in Near Future

By
IFP Editorial Staff
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Deputy Health Minister Iraj Harirchi on Thursday underlined that it is not possible to develop a vaccine for COVID-19 in the coming 12 to 18 months.

The official said at least 3 billion coronavirus vaccines will be needed for one year.

He noted there is no coronavirus medication available.
“Some drugs are available on the black market and prescribed by some doctors, but those medicines are not approved by the Medical Council,” he added.

He said the coronavirus outbreak is a pandemic which has gripped the whole world.

“Since the beginning of the coronavirus outbreak, Iran had been criticized by foreign media, but later on, major industrial countries, including Italy, Britain, the US, France, Germany and even Spain were massively gripped by the coronavirus,” he said.

He said Iran ranks tenth in the world when it comes to the number of fatalities due to the coronavirus outbreak.

According to Harirchi, 21% of those who have died of COVID-19 infection have been Americans.

He said there are no shortages of ICU beds and ventilators in Iran right now.

“Unlike European countries such as Italy, Spain and Britain, in Iran it was not only the youth whose treatment was a priority; rather, all coronavirus patients are a priority for treatment. So, no one has received preferential treatment in this regard,” he said.

Elsewhere in his remarks, Harirchi said no sensitivity to heat has been observed with regards to the coronavirus.

He added the coronavirus is not sensitive to heat and grows in temperatures of between 5 to 12 degrees centigrade and humidity of 40 to 70.

He further said 26.5 percent of COVID-19 infections happen on public transport while the possibility of virus transmission in schools with over 14 million students is just half a percent.

The official also stressed the importance of observing social distancing plans.

He noted the epidemic has affected both people’s health and the nation’s economy.

So, he added, measures should also be adopted to prop up the economy.

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Storytelling Helps Children Overcome Fear of Coronavirus

By
IFP Editorial Staff
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Storytelling Helps Children Overcome Fear of Coronavirus

Children and young adults are among the vulnerable groups who need care and support amid the outbreak of coronavirus more than ever. They are more liable to psychological harms and crises such as wars, floods, earthquakes, pandemics and contagious diseases. Such distressing events could cause psychological trauma in children, including stress, anger, anxiety, nervousness or obsession.

Therefore, it is necessary for the parents to take utmost care in talking to their children about the news and threats of the coronavirus outbreak, because the kids are unable to analyze such issues and may be left in a state of confusion and get into a panic.

Psychologists recommend that the parents should first control their own stress and anxiety before trying to ensure the psychological safety of children, because the children would feel safe by observing the calmness of their parents. For the next step, the parents should make plans to entertain the kids at home and make it clear for the children that in the current circumstance amid the outbreak of coronavirus, the situation is not appropriate for getting out of the house and playing in parks, because it is safe for them to stay home.

No doubt long-term planning to entertain children at home requires creativity and familiarity with family science. One of the most helpful factors in planning a variety of family entertainment is cultural and artistic activities, such as reading books and storytelling. Reading stories could have a more beneficial effect than the other activities, since the children are overly fond of stories and storytelling. Stories can deeply affect the spirit, language, behavior and character of children.

In an interview with Iran’s Book News Agency (IBNA), director general of the Institute for the Intellectual Development of Children and Young Adults in Iran’s southern province of Bushehr has highlighted the significant role of storytelling during the days of self-quarantine.

“Parents must take into account the psychological capacity of their children when telling and reading stories and even buying a book. We know that every child has a different sentimental atmosphere and interests. A story that is chosen for a child must be simple, concise, attractive and, above all, hopeful, because giving energy and hope to children will have many positive impacts,” Sommaye Rasouli said.

“For instance, the local and indigenous stories about the culture of people in old countries in the past and their customs and traditions, and handing down those stories from generation to generation have helped to bind the generations together. The children hearing these stories are given the opportunity to broaden their knowledge of their national identity. All of the old stories told by our grandfathers and grandmothers are full of the difficulties that end in comfort, full of the problems that are solved with wisdom and thoughtfulness, and full of the tears ending in grins; so that a happy ending strengthens the hopes for justice, eternal victory for truth, and hopefulness about future in our children,” she added.

Coronavirus Fears May Trigger Mass Hypochondria
Coronavirus Fears May Trigger Mass Hypochondria

Asked about how the way a storyteller narrates a story can attract the children, Rasouli said, “This is a very important and at the same time difficult skill. The only tool that a storyteller can utilize to attract the children and engage their interest is ‘speech’. The storyteller should talk and narrate the story with the words, should set the stage, should depict the time and location, should convey the feelings, and should of course use the body language to tell the children, the young adults and sometimes the adults a story in an attractive manner. Don’t forget that using a clear voice, speaking fluently, using the appropriate intonation, the proper and skillful use of words, and trying not to speak with a monotone voice are all among the necessities of storytelling. Here I must admit that storytelling is truly an art.”

She finally highlighted the important role that stories can play in easing the children’s fears about the coronavirus, noting, “We just need to select a story that would make the children realize that they can get through these tough days by observing the health tips and taking care of themselves and the others. We should give children the hope that good days are coming. Stories are not for children alone, and giving hope and feeling enthusiastic about life are necessary not only for children, but are a must in the life of every human being. Accordingly, all humans at all ages can employ the capacity of stories and storytelling during the quarantine days.”

Stress, Anxiety, and Your Wellbeing

By
IFP Media Wire
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Stress, Anxiety, and Your Wellbeing

We’ve begun to see articles and videos come through of our favourite celebrities and superstars either offering support to their followers or showing a more vulnerable side as they also begin to struggle with the impact of being locked down in their own homes. The effects of this are starting to find a further reach, however, as fears around those fighting on the frontlines start to show.

For the doctors and nurses that are working extra hours and dealing with unimaginable losses, experts fear that they may be at increased risk of PTSD and other such stress induced difficulties – and for those who are at home fearing for their loved ones and fearing for their jobs, the same difficulties are also starting to show through too. Many are starting to report that they’re having extremely vivid dreams as experts attribute stress at home with the ongoing coronavirus situation to be a big part of this – with many turning to alternative methods to help relieve stress and anxiety amidst the time of uncertainty.

Lucid dreaming is a method many have used in the past in an effort to have control over the dreams they have – learning to remember and then remind yourself that you are dreaming are part of the process for this method of self-wellbeing – especially for those that are experiencing more vivid and unpredictable dreams. There are those that turn to top psychics in order to help with this, but it is also a technique that can be learned alone with just a little practice.

Meditation has also been used effectively for many – and it comes in many different forms. There are even apps on your smartphone that can help you to learn different forms of meditation and find one that best suits you, from breathing exercises to methods that utilise sound or visual stimulus to put you in a relaxed frame of mind. As our social media news feeds, our radio and our televisions are surrounded by news with updates on new cases and rising death figures, meditation could be a useful stress relieving tool for you.

Exercise during this time is also extremely important – although not an alternative method to reduce stress and anxiety, it is a proven certainty to help. As you exercise, your body will release endorphins, or chemicals that help you feel good – you may not be able to get to a gym, and may be too nervous to get outside in areas where small groups of people may form, but there are plenty of effective ways to exercise from home.

As we continue to move through the coronavirus epidemic, it is clear that there will still be a long time before we return to normal – and even when the numbers begin to drop and as we return to our daily working routine, stress and anxiety factors around the economy, businesses and those who have lost loved ones will still be present – and it will be more important than ever to look after your wellbeing and to develop methods to handle your stress and anxiety.

Iran to Grant Loans to Employers to Prevent Layoffs

By
IFP Editorial Staff
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Iran to Grant Loans to Employers to Prevent Layoffs

Minister of Cooperatives, Labour and Social Welfare Mohammad Shariatmadari said among the priorities of the government is to prevent a rise in unemployment and keep workers from being laid off.

“Workers in 10 job groups whose employment has been affected by the coronavirus outbreak will be supported,” he said.

The minister added some 600,000 people have registered their names on a website for unemployment benefits.

“The trend of unemployment is alarming in all countries. In Iran, too, the necessary predictions have been made to support some workers who have lost their jobs due to the COVID-19 outbreak,” he said.

He noted some Rls. 50 trillion ($334 million) has been earmarked to provide unemployment benefits for these workers.

COVID-19 Inflicts Huge Losses on Iran’s Culture, Art, Media Sectors

By
IFP Editorial Staff
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COVID-19 Inflicts Huge Losses on Iran’s Culture, Art, Media Sectors

Minister of Culture and Islamic Guidance Abbas Salehi announced it in separate letters to the first vice president, the president’s chief of staff, the head of the Plan and Budget Organization and the vice president for economic affairs.

The minister called for the government to immediately help and support affected businesses in the domains of culture, art and media.

He called on the president to issue orders to ease economic pressure on individuals and businesses working in the above-said fields.

The minister also presented detailed figures on the losses that the culture, art and media sectors have suffered.

Iran, Azerbaijan Discuss Expansion of Mutual Ties

By
IFP Editorial Staff
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Tehran, Baku Move to Broaden Economic Ties

In a phone conversation on Wednesday, Iranian Deputy Foreign Minister for Political Affairs Abbas Araqchi and Azeri Deputy Foreign Minisiter Khalaf Khalafov urged that the two nations should continue their cooperation in all areas.

In the phone talk, Araqchi touched upon certain reports published on the web and social media, and said, “Enemies which are against reciprocal ties between the two countries are seeking to strain relations between the two sides by publishing false reports.”

“The news claiming Iranian trucks have been moving toward mountainous Karabakh and the occupied territories of the Azerbaijan Republic are utterly false,” he said.

“While respecting the territorial integrity of the Azerbaijan Republic, Iran is fundamentally opposed to any move that would fuel conflict between the two neighbouring countries of the Azerbaijan Republic and Armenia,” he noted.

He also thanked the Azerbaijan Republic for sending humanitarian aid to Iran to help the country fight the coronavirus.

Araqchi also described as important the issue of transportation of goods between the two countries while observing health protocols.

He also referred to the quarantine condition and closure of universities and called on the Azeri government to cooperate in returning university students and other Iranian nationals to the country. The idea was welcomed by the Azeri side.

Iran’s Foreign Ministry Holds Int’l Meeting on Afghanistan

By
Emad Askarieh
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Iran’s Foreign Ministry Holds Int’l Meeting on Afghanistan

Considering the rapid and widespread developments in Afghanistan and in parallel with the relevant diplomatic moves from the Ministry of Foreign Affairs, including the Iranian Foreign Minister’s contacts with the Afghan officials and the foreign ministers of the regional countries for talks about the issue, the Ministry of Foreign Affairs of the Islamic Republic of Iran’s Center for Political and International Studies held a video conference meeting, attended by the international state and non-state authorities and figures, to study and discuss the latest developments in Afghanistan.

The meeting was attended by the special representatives of the United Nations and the European Union for Afghanistan, as well as the special representatives or senior authorities and experts from Norway, Germany, the US, Uzbekistan, Afghanistan, India, Pakistan, Russia, Belgium and France.

Participants in the video conferencing discusses the latest status of the negotiations between the Taliban and the Afghan government, the possible scenarios for the future of government of Afghanistan, the arrangements for the participation of the Afghan political officials in power, the national, regional and international challenges, the negative consequences of ignoring the achievements of Afghan people over the past two decades, as well as the democratic principles and frameworks stipulated in the Islamic Republic of Afghanistan’s Constitution.

Iran Condemns US Move to Halt Funding to WHO

By
IFP Editorial Staff
-
Iran Vows to Take Action against US Move to End Nuclear Sanctions Waiver

In a statement on Wednesday, Seyyed Abbas Mousavi voiced concern about the US president’s decision to suspend contributing to the World Health Organization’s budget and halt funding to the international organization amid the critical situation created by the outbreak of coronavirus.

The Iranian spokesman strongly condemned the US decision and slammed it as another step from the US government in undermining multilateralism and international institutions.

The coronavirus pandemic is directly threatening the health, hygiene and life of people in the world, Mousavi warned, adding, “The US is abruptly punishing the only coordinator of world health at the worst possible time and amid the fight against a global disaster, as this is utter irresponsibility and crime against humanity.”

“(US President Donald) Trump’s main purpose in suspending the World Health Organization’s budget is pinning the blame on others and covering up the US government’s inefficiency in containing and controlling the coronavirus in that country. He has called on the international community to try to compensate for the US’ unilateral measures and maintain the united global front and stand with that international organization (WHO),” Mousavi noted.

“The American statesmen must recognize that such measure is a violation of their commitments to the international community, and that one cannot hold the world’s humanitarian efforts captive by halting assistance and (exerting) unilateral pressures and take advantage of the illegal and immoral measures,” the Iranian spokesperson concluded.

Zarif, Chinese Counterpart Discuss Peace in Afghanistan

By
IFP Editorial Staff
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Zarif, Chinese Counterpart Discuss Peace in Afghanistan

In a phone conversation on Wednesday, Zarif and Wang Yi conferred on the latest political developments in Afghanistan and the return of peace and stability to the country.

The two top diplomats further discussed bilateral relations, the comprehensive and strategic partnership between the two countries, and the joint fight against coronavirus.

They also conferred on the United States’ hostile policies, including the regime’s unilateral and inhumane sanctions against the Iranian nation.

The Iranian top diplomat had earlier held separate phone talks with his Qatari, Turkish, Russian, and Indian counterparts to discuss the political crisis in Afghanistan that emerged following the recent presidential election.

In these phone calls, Zarif stressed the importance of restoring peace to the country.

Back on Sunday, the Iranian foreign minister also held talks with Mohammed Haneef Atmar, the acting foreign minister of Afghanistan. In this phone call, Zarif underlined the importance of strengthening unity among Afghanistan’s various parties and establishing peace and stability in the country.

Last month, Abdullah Abdullah, who served as the chief executive officer of the outgoing administration, rejected a decision by Afghanistan’s Election Commission to announce Ashraf Ghani as the winner of the presidential election, proclaiming himself to be president-elect. On March 9, Ghani and Abdullah both held inauguration ceremonies in the capital Kabul.

A few days ago, the top Iranian diplomat held separate phone conversations with Ghani and Abdullah on issues of common interest, from the latest developments in Afghanistan’s political arena to bilateral cooperation in the battle against the new coronavirus pandemic.

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