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Meanwhile, in an important gesture, the Iranian embassy in the UK has been allowed to open a bank account, according to the Guardian .
What’s more, the Atomic Energy Organization of Iran (AEOI) this week highlighted how the UK and China were now helping Iran rebuild its heavy water reactor in Arak. The work, which is aimed at cutting the amount of plutonium produced by the reactor as a byproduct, something which is required by one condition of the nuclear deal, was being performed by US technical experts, but they pulled out.
So far, EU efforts at preventing an exodus of European companies from Iran in the face of the US sanctions—which include secondary sanctions which Washington is aiming at any foreign trader or investor who remains in business with Iran—have come to little. But the Iranians are widely reported to be impressed by the sincerity with which the Europeans have addressed the matter and the release of Zaghari-Ratcliffe may be one effort made in the direction of ensuring it keeps badly needed friends on its side. The EU is promising Iran more initiatives to help it overcome the US sanctions attack.
2.7 Iran sets up new courts to deal with profiteers exploiting consequences of economic war with US
Iranian Supreme Leader Ayatollah Ali Khamenei on August 11 responded to a declaration from the head of Iran’s judiciary that the country is facing an “economic war” by calling for “swift and just” legal action from new Islamic revolutionary courts against those who would exploit the situation for corrupt gains, state television reported.
“The current special economic conditions are considered an economic war,” judiciary chief Ayatollah Sadeq Amoli Larijani said in a letter to Khamenei. He reportedly called for the establishment of special courts to deal quickly with financial crimes.
Khamenei agreed, saying: “The purpose [of these courts] should be to punish those guilty of corrupt economic practices swiftly and justly.”
Cases brought to the courts will be broadcast on national television.
The Iranian rial (IRR) currency has lost about half of its value since April, while the cost of living has soared, with some foreign economists now measuring inflation at more than 200%. The economic stress has caused hardship that has spared demonstrations against corrupt officials and companies that profiteer.
The central bank and the judiciary have blamed “enemies” for the fall of the currency as well as a rapid rise in the price of gold coins. More than 40 people including a former central bank deputy have been arrested on charges carrying the death penalty, according to the judiciary.
The judiciary has suggested that the US, Israel and regional arch-rival Saudi Arabia, as well as government opponents living in exile, are fomenting the unrest.
The new Islamic revolutionary courts will be set up for two years and directed to impose maximum sentences on those “disrupting and corrupting the economy”, and appeal rights will be curbed, Amoli Larijani proposed in his
10 IRAN Country Report September 2018 www.intellinews.com