Current Events
8
Trouble in Iran: The Bigger Picture Delaina Kirby Staff Writer
The U.S. Treasury Department disrupted a Dubai-based banking operation that Washington believes had become Tehran’s primary conduit for evading international sanctions and processing its oil sales. The effort was particularly sensitive because the targeted institution in the United Arab Emirates is partly owned by the local government of Dubai, a close U.S. ally. In mid-December, Noor Islamic Bank agreed to close off
Delaina Kirby Staff Writer
This February 26th the 84th Oscar Awards aired at 7 pm CT time on ABC. The nominations were presented by Jennifer Lawrence at the Samuel Goldwyn Theater in Beverly Hills and hosted by Billy Crystal. Listed below are the winners:
what the people briefed on the operation characterized as Iran’s single-largest channel for repatriating foreign-currency oil receipts- facilitating as much as 60 percent of Iran’s foreign oil sales by late last year. Last year, Iran is estimated to have earned more than $80 billion from oil exports - transactions that came under increasing pressure over the course of 2011 as U.S. sanctions also closed Tehran’s banking channels in India, East Asia and Europe. The move comes as US and European Union sanctions
against Iran have made it difficult for buyers to make dollar payments to Iranian banks. Mahmoud Bahmani, the governor of Iran’s central bank, is reported to have said that the country would accept payment in gold “without any reservation.” As part of the sanctions, the EU has passed a ban on buying Iranian oil. The EU’s move will prohibit any company, in any member state, from buying oil from Iran after the first of July. At the present, the EU accounts for 20% of Iran’s exports.
However China, the biggest purchaser of Iranian oil, has said it will continue imports, as will India. The US already has a ban on Iranian oil in place. Iran has the world’s thirdlargest oil reserves. Crude oil is predominantly traded in US dollars, but Iran already accepts payment in other currencies. Separately, Dubai’s Noor Islamic Bank said on Wednesday that it had ended any dealings with Iranian financial institutions back in December, as a result of US sanctions against working with Iranian banks.
Best Actor:
Best Supporting Actress:
Best Cinematography:
Jean Dujardin, The Artist
Octavia Spencer, The Help
Robert Richardson, Hugo
Best Actress: Meryl Streep, The Iron Lady
Best Supporting Actor: Christopher Plummer, Beginners
Best Original Screenplay: Best Documentary Feature: Woody Allen, Midnight In Paris
Undefeated
Issue 5 Credit Correction:
The “Republican Presidential Bid” article that appeared in Issue 4 of “The Buzz” was written by Stormy Anderson, not Jessie Johnson. We apologize for any inconvenience this may have caused.
Best Animated Film: Rango Best Animated Short: The Fantastic Flying Books of Morris Lessmore
Best Adapted Screenplay: Best Documentary Short: Best Foreign Language Film: Nat Faxon, Alexander Payne, and Jim Rash, The Descendants
Saving Face
Iran, Asghar Farhadi, A Separation
Best Picture: The Artist
Best Director: Michel Hazanavicius, The Artist
April 2012
The Buzz