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Losses Unknown After Tehran Bank Robbers Pilfer Safety Boxes

Iran International Newsroom
Jun 7, 2022, 11:42 GMT+1Updated: 17:39 GMT+1
Officials and police inspect a section of safety deposit boxes at Bank Melli. June 6, 2022
Officials and police inspect a section of safety deposit boxes at Bank Melli. June 6, 2022

State media has played down a bank heist that saw thieves break into at least 200 safety deposit boxes in a central Tehran branch of Iran’s largest bank.

Bank Melli (National Bank), which is state-owned, issued a statement Monday saying thieves had entered its branch near the University of Tehran and accessed fewer than 200 safety deposit boxes.

The bank is about half a mile from the headquarters and residence of Supreme Leaser Ali Khamenei.

Iran was in a four-day holiday from Thursday to Sunday marking the death anniversary of Ayatollah Ruhollah Khomeini, founder of the Islamic Republic. Apparently, the robbers gained access from an adjacent building during the holiday, and it is not clear how long they were inside.

Officials said an investigation was underway, with several bank employees “under observation” for possible “dereliction of duty.”

The gall of the robbers has fed social media speculation, and even comparisons with famous bank robberies elsewhere in the world, like the 1983 Brink’s Mat heist in the United Kingdom. Bank Melli denied social media reports that 1,000 boxes had been breached and referred simply to an “incident” in a press release.

Most state media avoided lengthy reports while also denying that as many as 1,000 boxes had been breached. State broadcaster IRIB put the number of safety deposit boxes opened at 250, while others used the phrase ‘damaged boxes.’

Inside job?

IRIB said that the thieves appeared to have been familiar with the bank’s interior and had stolen the main device recording footage from surveillance cameras. IRIB revealed that the bank’s alarm was not connected to the police and had only sent a text message to the branch manager, who ignored it as the system had been prone to false alerts.

The robbery is seen by some as an ‘inside job,’ and by others as another example of official ineptitude following the collapse of a high-rise building May 23 in Abadan, a refinery city in the oil-rich Khuzestan province, which killed at least 40 people and is widely seen as the result of officials ignoring warnings from engineers in allowing the owner to add five more floors. The disaster led to anti-government protests in the province and elsewhere.

As 80 percent of the economy is controlled by the government, including the banking sector, ordinary people often see such incidents as the result of inefficiency, personal and political nepotism and in some instances corruption.

Media and officials in Tehran say it is not clear what the bank robbers stole from the safety deposit boxes, since banks have no information about what people put in these boxes, which are used to safely store personal mementoes, precious foreign currency, and gold coins bought as a hedge against inflation.

It is also not clear if there is any kind of insurance covering losses sustained by customers. One report last year suggested Iranians were keeping $25-$30 billion in cash “at home,” which would include money in bank deposit boxes.

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Iran Issues Death Penalty For Attacker Who Killed Two Clerics

Jun 7, 2022, 11:07 GMT+1

A court in Iran has sentenced a man to death for killing two clerics and wounding a third in a knife attack at a holy Shi'ite Muslim shrine in April, the judiciary said on Tuesday.

"The revolutionary court sentenced him to death ... and his lawyer has appealed. The case has been sent to the Supreme Court," judiciary spokesperson Masoud Setayeshi told a news conference carried live on a state-run website.

Officials said the attacker was Abdullatif Moradi, a 21-year-old ethnic Uzbek from Afghanistan with radical Sunni views. He was arrested after the stabbings at Iran's largest Shi'ite Muslim religious complex in the northeastern city of Mashhad.

Top officials and clerics had reacted strongly to the incident and called for a speedy trial in the case.

Attacks on clerics and government officials have been rare in Iran after authorities tightened security measures and cracked down on opposition groups following a string of attacks and bombings that killed dozens of officials and clerics following the 1979 Islamic revolution.

However, a senior conservative cleric was slightly hurt after being attacked by a man with a knife after Friday prayers last week in the central city of Isfahan.

There have been weeks of unrest in Iran after a jump in food prices and amid public anger with government leaders and powerful clerics over a deadly building collapse last month that was widely blamed on corruption and lax safety measures.

With reporting by Reuters

Kurdish Dissident Accuses Iran Of Assassination Attempt Against Comrade

Jun 7, 2022, 11:03 GMT+1

A senior member of the Organization of the Iranian Kurdistan Struggle has accused the Islamic Republic of being behind an assassination attempt on fellow fighter Akbar Sanjabi.

Shoresh Haji, a member of the governing committee of the opposition group – known as Khabat that is the Kurdish word for "struggle" -- told Iran International on Tuesday that the former political prisoner, 49, was injured when a bomb that was attached to his car detonated in Erbil, the capital of the Kurdistan Region in Iraq on Monday. 

He called the attack a terrorist act, and called on the Iraqi Kurdistan Region security agencies to conduct an extensive investigation into the assault.

The political activist, who was severely injured in the left leg and was taken to Erbil’s Emergency Medical Center, had been sentenced to life in prison by Iranian authorities for membership in the Albania-based opposition group Mujahedin-e-Khalq (MEK) organization. While on a temporary leave, Sanjabi left the country and settled in Erbil.

In 2021, two political activists and members of the Kurdistan Free Life Party (PJAK) and the Democratic Party of Iranian Kurdistan (KDPI), Behrouz (Rebin) Rahimi and Musa Babakhani, were assassinated in the cities of Sulaimaniyah and Erbil.

Although the Islamic Republic has not claimed responsibility for any of these assassinations, their respective parties have blamed the Iranian government for the attacks.

Iran Tries To Deny Reports About Declining Oil Exports

Jun 7, 2022, 08:45 GMT+1
•
Mardo Soghom

Iran’s government has tried to dispel reports about declining oil exports with its media claiming that sales have topped one million barrels a day in April-May.

In a long report that appeared on Tuesday on the official government news website IRNA and the official newspaper Iran Daily, President Ebrahim Raisi’s government tried to rebuttal those who say oil exports have decreased in the wake of Russia's invasion of Ukraine.

Global industry sources reported in May that Russia has started taking market share from Iran, especially in China, by offering more discounts. Reuters reported on May 19 that “Iran's crude exports to China have fallen sharply since the start of the Ukraine war as Beijing favored heavily discounted Russian barrels, leaving almost 40 million barrels of Iranian oil stored on tankers at sea in Asia and seeking buyers.”

The reports published in the government media indicate that the Raisi administration wants to dispel any sign of weakness in oil exports that it takes credit for. While it has little to show after 10 months in office, the government takes credit for increasing illicit oil exports despite United States’ sanction.

Iran’s currency has slipped to all-time lows against major currencies since March when nuclear talks with the West came to an abrupt pause and the prospect for a nuclear agreement that could lift sanctions is dimming by the day.

Iran central bank presentign revenues at an oil and gas exhibition in Tehran. May 13, 2022
100%
Iran central bank presentign revenues at an oil and gas exhibition in Tehran. May 13, 2022

The government lifted food import subsidies in early May that led to a steep rise in prices triggering protests by a population impoverished after four years of high inflation.

The government’s denial of a loss in oil exports followed a two-track approach. First, the oil ministry was quoted as saying that demand and exports vary according to market conditions and it is trying to do its best to serve the nation’s interests.

“Supply and demand ratios in the global oil market are shaped by the policies of exporting and importing countries, the economic growth rate and other factors,” the ministry was quoted as saying by IRNA. It added that even if a supplier is eliminated from one market, the ratio of global supply and demand is not affected necessarily. Instead “the geography” of the market might change and Iran can try to sell its oil in new markets.

While the government mouthpiece, IRNA, tried to dispel the notion that Iran’s exports have fallen, the quotes from the oil ministry were vague and did not deny the news.

The government’s second tract was using its official newspaper, Iran Daily, to claim that oil exports have surpassed one million barrels per day, while international industry sources put the figure at around 700,000-800,000 barrels per day at best.

In its May report, Reuters cited shippers’ data that said about 40 million barrels of Iranian oil remained unsold on tankers, with 20 tankers “at anchor near Singapore as of mid-May.” The report also said that that Iranian exports to China dropped between 200,000 to 250,000 barrels per day, replaced by Russian oil after sanctions by US and other countries.

But IRNA insisted that from mid-March to mid-May, Iran was exporting around one million barrels, without citing the discounted price. If Iran charges $80 a barrel with a heavy discount, this could still generate around $2.5 billion a month. IRNA said that oil and petrochemical exports together totaled an average of $3.75 billion a month in this period, or $45 billion annually.

Lebanon-Israel Gas Dispute Sends New Ripples Across Region

Jun 7, 2022, 00:14 GMT+1
•
Iran International Newsroom

International energy politics upturned by US and European sanctions against Russia took a further twist Monday as the Lebanese party Hezbollah threatened force against Israel.

Deputy leader Naim Qassem told Reuters that Hezbollah was ready for action against Israeli gas operations in disputed sea waters, a day after a London-based vessel operated by drilling company Energean arrived at Israel’s bidding to develop the Karish gas field.

Energean, which is listed in London and Tel Aviv, said its floating production storage and offloading vessel was set up 80 km (50 miles) west of Haifa and would be operational by the third quarter of 2022.

Qassem said Hezbollah would act only with the authorization of the Lebanese government, which has warned Israel against the offshore work. Beirut said Monday that with discussions stalled for a year it would now invite Amos Hochstein, a United States mediator, to help resolve matters. Lebanon and Israel have no diplomatic relations.

“When the Lebanese state says that the Israelis are assaulting our waters and our oil, then we are ready to do our part in terms of pressure, deterrence and use of appropriate means – including force,” Qassem said.

“The issue requires a decisive decision from the Lebanese state,” he added, and that Hezbollah “urged the government to hurry up, to set a deadline for itself.” Qassem said Hezbollah would act even at the risk of a wider conflict with Israel.

Preventing escalation

Lebanon hopes offshore gas reserves could alleviate its chronic financial problems, including one of the world’s largest public debts, but is currently struggling to form a government after parliamentary elections last month.

Caretaker Prime Minister Najib Mikati wrote on Twitter that the government aimed at “completing the negotiations to demarcate the southern maritime border and to work on concluding the issue as fast as possible to prevent any escalation that would not serve the state of stability in the region.” Mikati said any Israeli drilling or exploration in a disputed area was “a provocation and an act of aggression.”

With several gas discoveries made in the 2000s in the eastern Mediterranean and Lebanon slow to exploit the resource, there is a significant area where Israel and Lebanon dispute the border.

In a statement on Sunday, the Lebanese presidency said Lebanon had written to the United Nations that Karish was within the disputed area, but Israeli Energy Minister Karine Elharrar told Tel Aviv radio 103 FM there was “unequivocally no” encroachment by Israel.

“Everything to do with the dispute will be resolved in the framework of negotiations between us and Lebanon, mediated by the United States,” Israeli Defense Minister Benny Gantz said in televised remarks.v

While Lebanon and Israel have not been involved in a major conflict since 2006, the fall in Russian energy exports, including both gas and oil, has pushed up world energy prices and increased the attraction of moving ahead with new projects.

Iran, which according to the BP 2021 Statistical Review of World Energy, has the world’s second largest gas reserves, after Russia, and the third largest oil reserves, is closely aligned to Hezbollah. Some analysts suggest Iran has an opportunity to increase its own energy exports, especially to Europe, assuming US sanctions are lifted with restoration of the 2015 Iran nuclear deal, the JCPOA (Joint Comprehensive Plan of Action).

Iran’s Central Bank Claims Highest Ever Foreign Currency Reserves

Jun 6, 2022, 19:28 GMT+1

The Central Bank of Iran (CBI) claims it currently enjoys the highest ever foreign currency reserves in cash, saying it will utilize it to stabilize the market.

CBI governor Ali Salehabadi said on Monday that the bank has the largest cash currency reserve in the history of the country, “therefore we have no problem in balancing supply and demand in the foreign exchange market.”

His remarks came as the bank has reportedly started injecting cash dollars into the market to stop the current freefall of the Iranian rial as it has hit record lows against major currencies, while nuclear talks with the United States remain in limbo, prices are rising and popular protests continue.

Iran has increased oil exports despite United States sanctions since last year and claims to have been able to repatriate the revenues. However, it is not clear why the rial is falling and the economic crisis continuing if it has large foreign currency reserves.

The rial has been sliding since mid-March when year-long multilateral talks in Vienna to revive the 2015 nuclear agreement known as the JCPOA came to an abrupt halt. Washington and Tehran apparently were too far apart on some issues, including Iran’s demand that its Revolutionary Guard should be removed from the US list of terrorist organizations.

Since 2018, when Washington withdrew from the 2015 nuclear deal with six powers and reimposed sanctions, Iran's economic crisis has deepened with inflation rate reaching 50 percent and the rial losing over 75 percent of its value.