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Tuesday, April 30, 2019

Come May 2nd If The US Imposes Sanctions On Petronas, Maybank Etc The Ringgit Will Mampos, The Bursa Will Kencing. Better Watch Out.



Citing “Western intelligence officials”, Israeli newspaper Haaretz said on Thursday that a deepening alliance between Malaysia and Iran is expected to enable Tehran evade some of the economic sanctions imposed on it by the United States. 

In the past, every time Washington has imposed economic sanctions on Iran, it has issued renewable waivers for a number of countries whose economies have historically depended on substantial Iranian energy imports. 

This is done in order to prevent these economies from entering a recession due to lack of access to sufficient energy supplies. 

This week, however, US President Donald Trump said that Washington would not renew waivers for these countries, which include Italy, India, Turkey, South Korea and China. 

These waivers are now expected to run out on May 2, 2019, after which date the US has threatened to impose economic sanction on all countries that have substantial financial dealings with Tehran.

Many observers believe that these new sanctions will have a deep and immediate impact on the Iranian economy. 

But, according to Haaretz, the American sanctions are bringing Iran closer to Malaysia. 

Throughout the past month, says the Israeli newspaper, “atypical numbers” of oil tankers have been sailing between the two countries — a sign of trying to move as much oil as possible out of Iran before the US sanctions hit. 

Citing “Western intelligence officials”, Haaretz claims that Iran plans to continue to funnel funds from oil and natural gas sales through Malaysian banks

Much of that assistance, which sources claim will grow in the next month, is facilitated through Petronas, Malaysia’s state-owned oil company

As one of the world’s largest companies and the most powerful corporate entity in Malaysia, Petronas has immense political power. 

Much of the country’s political elite connected with Petronas — including the country’s current Prime Minister,  Mahathir Mohamad, who was a senior advisor to the company in the early 2000s. 

In 2017, Petronas signed a cooperation agreement with an Iranian refinery facility and announced its intention to develop an emerging oilfield in the Middle Eastern country. 

Then in late 2018, Petronas officials traveled to Iran to sign a memorandum of understanding on mutual cooperation between the Malaysian company and Iran’s state-owned energy producer and distributor, the National Iranian Oil Company.

Haaretz notes that cultural and political ties between Malaysia and Iran run deep. The Southeast Asian country is one of a handful of nations that allow Iranians to visit without first having to obtain a visa

If fails to note, however, that in recent times there have been tensions between the two countries, due to concerns in Kuala Lumpur that Iran is trying to spread a militant version of Shia Islam in Malaysia.


My comments :  Maybank, Petronas please write this down in your diary.

May 2, 2019, after which date the US has threatened to impose economic sanction on all countries that have substantial financial dealings with Tehran.


Today is 30th April 2019.  In 30 hours it will be May 2nd 2019.  

The US says they will impose sanction on any country that has financial dealings with Iran.

The US will not impose any sanctions on Italy, India, Turkey or South Korea. They will not do anything to irritate China. Plus the Chinese do not care.

But what if they cut off whichever Malaysian bank from the international money remittance networks?  Just as an example.  Mampus kita.

What if they freeze some of Petronas' US Dollar accounts with American banks?  Mampus Petronas.

And all this for what? 
For a few Ringgit reckless profit?
For some foolish ego?

Do not be stupid.

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