Thursday January 5, 2017

I've Been Thinking:

This news was just made public in a Reuters piece.

Vitol, the largest energy group in the world, signed a deal with Iran in exchange for oil. The deal is a loan of one billion euros which is about a billion dollars in exchange for oil, plus 8% of the oil.

This is a huge boon for Iran. It is a direct injection of money into their economy at an essential time and they are trading against their oil production - the only commodity of value they have.

Since the lifting of sanctions in March 2016 Iran has been clawing their way up to be a major force in the oil world.

This Vitol deal will help Iran emerge from their economic crisis.

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