ALSO IN SATURDAY FORECAST

Picture: Opposition Leader Mehdi Karroubi Recently Freed from House Arrest for Knee Surgery
US Extends Waivers for Iran’s Largest Oil Customers
Rouhani “Optimistic” About Freeing of Oppposition Leaders Mousavi & Karroubi

Proclamations of imminent economic success for Iran after last weekend’s interim nuclear deal were replaced on Friday by a more cautious message that easing of sanctions — even the measures agreed in Geneva — will not occur for months.

Press TV highlights a Reuters story about the relaxation of sanctions on Iran’s oil exports, noting that the process for lifting of bans on insurance for Iranian tankers will be long and complicated “due to complex law and regulations in the United States and the European Union”.

A spokesman for the leading British insurer P&I CLub said, “Until such changes are made, the effect of sanctions on Club cover remains unchanged.”

An independent insurance broker added, “The US has put a lot of pressure on insurers to do as little as possible with Iran. The biggest problem has been that an increasing number of insurers have US capital, and they are terrified of sanctions.”

The European Union’s prohibition on insurance was put into effect on July 1, 2012. It has been a major contributor to the fall in Iran’s oil exports from 2.2 million barrels per day at the end of 2011 to a historic low of 760,000 bpd earlier this year.

Picture: Opposition Leader Mehdi Karroubi Recently Freed from House Arrest for Knee Surgery

US Extends Waivers for Iran’s Largest Oil Customers

The US Government has extended waivers on almost all remaining customers for Iran’s oil for another six months, on the grounds that they have reduced their purchases.

The State Department announced that China, India, South Korea, Turkey, and Taiwan have again qualified for an exception from US financial penalties.

Washington also said waivers would be extended for Malaysia, South Africa, Singapore, and Sri Lanka because they no longer purchase crude oil from Iran.

Rouhani “Optimistic” About Freeing of Oppposition Leaders Mousavi & Karroubi

In a wide-ranging interview with London’s Financial Times, President Rouhani has said that he is “optimistic” that opposition leaders Mir Hossein Mousavi and Mehdi Karroubi can be freed from strict house arrest after 33 months.

See Iran Interview: President Rouhani on Economy, Nukes, Syria, & House Arrests of Mousavi & Karroubi

Rouhani initially hedged over the issue:

Some issues in the country need consensus of other branches and officials. My government is trying to implement its duties in this regard. Of course not within 100 days. More time is needed for such consensus.

He then offered the hope, “You called me an optimist. At least in this case, I am optimistic.”

Pressed by the Financial Times, “When?”, Rouhani replied, “I said I am not a forecaster but I am optimistic.”

The President also spoke about last week’s interim nuclear deal, reasserting “100%” that Iran’s ability to enrich uranium is a “red line”.

And, on the subject of Syria, Rouhani said that Iran would seek a political solution without any condition over President Assad’s future: “Whomever people choose, we will bow to people’s choice.”