- 10 July 2012
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- NIAC round-up
Iran Considers Response to Rial’s Decline
Iran is considering anew system of variable exchange rates for different products in order to stabilize the price of basic goods in the face of a significant slide in the value of Iran’s currency, the Rial. However, the new plan is meeting “heavy resistance from statesmen who have long promoted the private sector,” (Washington Post 7/9).
US Calls on Iran to Release Pastor
The US has called on Iran to release Christian pastor Youcef Nadarkhani, a convert to Christianity from Islam, who was jailed in 2009 and sentenced to death for his conversion. In a statement, State Department spokeswoman Victoria Nuland said the pastor, “still faces the threat of execution for simply following his faith, and we repeat our call for Iranian authorities to release him immediately” (Radio Free Europe Radio Liberty 7/10).
Iran Reportedly Shuts Off Some Oil Wells
Western and Iranian sources say that Iranian oil production has dropped below 3 million barrels per day (bpd), forcing Iran to shut off some wells in its oil fields for lack of export demand and storage capacity. Peter Wells of geological consultancy Neftex Petroleum commented, “The more production is shut in, the harder and longer it is to bring back production when it is needed,” (Reuters 7/10).