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    House GOPers Seek to Put all Sanctions in Law so Dem Prez Can’t End Them

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    Canada Party Boss Says Iran’s Leaders Are ‘Liars’

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    Making Life Harder For Afghans

    Making Life Harder For Afghans

    Iran and US are Talking But About Just What?

    Iran and US are Talking But About Just What?

    New Species Of Praying Mantis Found Playing Dead in Desert

    New Species Of Praying Mantis Found Playing Dead in Desert

    Gen. Naqdi Says The End is Near

    Gen. Naqdi Says The End is Near

    Rial Passes 1 Million Mark

    Rial Passes 1 Million Mark

    Trump’s Intel Says Iran Still Not building A Bomb

    Trump’s Intel Says Iran Still Not building A Bomb

    House GOPers Seek to Put all Sanctions in Law so Dem Prez Can’t End Them

    House GOPers Seek to Put all Sanctions in Law so Dem Prez Can’t End Them

    Farah’s Museum Puts Picasso Work on Display

    Farah’s Museum Puts Picasso Work on Display

  • Diaspora
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    Opec Pumps More Crude, Just When Its Not Needed

    Opec Pumps More Crude, Just When Its Not Needed

    Lithium Deposits Being Hyped By Some in Iran

    Lithium Deposits Being Hyped By Some in Iran

    Despite Trump, Iran Sells China More Oil

    Despite Trump, Iran Sells China More Oil

    Despite Revolutionary Goals, Iran’s Exports Still Mostly Oil-Based

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    Trump Hits Iran With 10% Tariff On Next-To-No Trade

    The Oil Patch

    The Oil Patch

    Iran Wealth Flees Country via Cryptocurrencies

    Iran Wealth Flees Country via Cryptocurrencies

    Gov’t Signs Huge Contracts to Push More Gas out of South Pars Gasfield

    Gov’t Signs Huge Contracts to Push More Gas out of South Pars Gasfield

    Rial Hits New Low of 949,000, but Stops Falling

    Rial Hits New Low of 949,000, but Stops Falling

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    Jamshid Myth

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Two Cabinet Ministers Convicted in $3.4B Case of Corruption at Tea Firm

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

    Resolution in US House Would Very Quietly Endorse Mojahedin-e Khalq

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Half billion of cellphone money stuck in Iran

logoMTN-logo1Iran’s largest cellphone operator, MTN of South Africa, has more than $550 million stuck in Iran because of US sanctions, the company revealed last week.
MTN owns a 49 percent share in Irancell, which in turn is owned and controlled by the Iranian Electronic Development Company.
MTN said it is in talks with US authorities, including Treasury Department officials, to try to find a way to get its assets out of Iran.
Sanctions have made it difficult, but by no means impossible, for any company doing business with Iran to take assets out of the country. MTN Group CEO Sifiso Dabengwa said the company has not been able to repatriate money out of Iran since last year when the toughest round of sanctions was imposed by the US and EU.
The company says sanctions are also frustrating MTN’s efforts to import networking equipment to improve service levels and expand its network in Iran.
Iran is MTN’s second largest country of operation, with over 40 million subscribers.
Dabengwa told reporters MTN wants to repatriate about $400 million in loans, which the telecom company received from lending institutions to support its expansion, and between $150 million and $200 million in dividends.
Dabengwa said business in Iran has remained good and that MTN would only pull out of Iran if South Africa adopted the US sanctions, which is highly unlikely.
In the first quarter of this year, Dabengwa said MTN invested over $44 million in Iran, although there have been project delays.
Dabengwa also said the company would also continue to operate in Syria and maintain services there as best as possible.

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