Iran Live Coverage: The Isolation of the Country

See also Saturday's Iran Live Coverage: The Engineering of the Elections Turns Nasty

---

2226 GMT: Elections Watch. After another day of tension over "free elections", we will give the final word to Ayatollah Ahmad Khatami, who refers to the 2009 Presidential election while looking to the next vote in June:

The "free election" slogan has burned 40 million votes. The leaders of fitna [sedition] should take idea of the victory to their graves.

2220 GMT: Rafsanjani Watch. Hashemi Rafsanjani --- having made his mark this week with his comment that it is the Iranian people, rather than the Supreme Leader or any politician, who will "pave the way to free elections" --- continues his challenge on the economic front. The former President said today:

People don't live on slogans. The Government must provide them with an average living --- giving people cash is of no help.

Click to read more ...

Iran Live Coverage: The Engineering of the Elections Turns Nasty

See also Iran Feature: Are Revolutionary Guards Among the 48 "Pilgrims" Freed in Syria?
Iran Feature: The Week in Civil Society --- Political Prisoners, Freedom of Expression, and Killer Smog
Friday's Iran Live Coverage: How to "Engineer" an Election

---

1820 GMT: Sanctions Watch. Marcus George of Reuters profiles the "informal currency dealers of Dubai, [who] have emerged as an important link between Iran's economy and the rest of the world" amid international sanctions:

Since businessmen trading with Iran could no longer transfer their money through normal banking channels, they turned to the dealers. Iranian savers moving their wealth out of the country were another source of business.

"Trading went crazy after those sanctions," the dealer in the Deira office said in a snatched conversation between endless calls and cups of tea. On one day, he recalled, he handled about 1 billion United Arab Emirates dirhams ($270 million).

What is most interesting about George's piece, however, is the indication that --- with foreign reserves dwinding --- Iran may have to limit even this informal trade:

last October, as the rial plunged in value, the government in Tehran clamped down on the supply of hard currency. That hit the Dubai dealers hard - both by restricting the amount of funds they handled and making it harder to gauge prices acceptable to both them and their customers.

"Now it's different. The government is fixing rates. Everything is grinding to a halt," said the Deira dealer....

On some days, the dealer said, he doesn't trade at all. On others, he handles around 10 to 15 million dirhams worth of businesss - and only with trusted clients.

Click to read more ...