Iran central bank urges imports cut as oil prices slide
Forbes/Reuters / Edmund Blair
18-Oct-2008 (2 comments)

Iran should ban imports of luxury and non-essential goods given falls in crude oil prices, central bank chief Mahmoud Bahmani was quoted on Saturday as saying, in a sign the OPEC producer is concerned about sliding oil income.

Officials say Iran's international isolation means it is more immune than others to the world financial crisis but the governor's remarks reflect growing concern about one consequence of the turmoil -- tumbling oil prices.

The world's fourth biggest crude exporter and No. 2 OPEC producer has become increasingly reliant on higher oil prices to balance its books. Some analysts say Iran needs its crude at $70 to $75 a barrel to keep its current account in the black.

News Goffer

Now what, Mahmoud?

by News Goffer on

Looks like even harder times are upon Iranian economy and Iran's genius president.

When is it time for IRI to stop sending its money to other countries and to start helping its own people?



Ahmadinejad the genius president

by Nikkhah H. (not verified) on

just remember his answer to the journalist at
Columbia Univercity last year:
We do not have any "XYZ problems" in Iran!

The "XYZ problems" can be replaced with any further
comming economical, political, social.......disasters.

God may bless our mother country!