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Iran Involved in “Junk for Oil” Trading

That is the assessment of one U.S. commentator when asked by Bloomberg whether the sanctions against Iran are working.  By trading oil for commodities from India and China such as wheat and soybean meal the countries involved are skirting the text of the sanctioning laws handed down by the Obama administration cutting off Iranian banks and their central bank from international trade. 

 

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Peter Pham is an author, international fund manager, and a registered financial director by the Cayman Monetary Authority (CIMA). In 2013 he published his first book entitled, The Big Trade: Simple Strategies for Maximum Market Returns. He currently manages the portfolio of a global hedge fund and runs an asset management company, Phoenix Capital.  (read more)

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