Mar 28, 2012

Iran Hoarding Grain

David DolanBy David Dolan

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United States and other Western officials continue to warn Iran it could face military action if it does not halt its nuclear development program. This comes as increasingly tough international economic sanctions slapped on the Muslim country are having a greater and greater impact on daily life in Iran.

Mahmoud Ahmadinejad

In another sign that the sanctions are working, analysts say the Shiite Islamic regime has begun to buy large quantities of wheat and other grain products in apparent anticipation that such food stuffs might later be included in the list of sanctioned items and services. Media reports say Iranian grain importers bought the equivalent of a normal full year's supply of wheat and other grains in just the first two months of this year alone. Importers admit that a large portion of the wheat is coming from the United States. They say the Iranian importers are getting around US imposed sanctions by buying the grains in non US dollar currencies like the Euro, and are going through third party agents to make their discreet purchases. Analysts say the grain hoarding indicates Iran expects possible war this year.

Related Links
Iran Watch: What's with all the wheat? • Foreign Policy
Kazakh port starts loading wheat for Iran • Reuters
Iran War Watch: The Wheat Import Strategy • Mother Jones
Iran Buying Wheat, Fearing More Curbs • Wall Street Journal
Iran ramps up food imports via Turkish route • Business Recorder