1 vote

Sanctions Take Effect: Iran Begins Stockpiling Food

Sanctions Take Effect: Iran Begins Stockpiling Food

March 16, 2012 - 4:02pm, by Yigal Schleifer

With financial sanctions against it getting tighter and tighter and the drums of war beating louder and louder, Iran appears to be getting proactive -- at least on the food front. As Reuters reports, Tehran is busy stockpiling grain in anticipation of the sanctions' effect on daily life. From the Reuters report:

Vessels carrying at least 360,000 metric tonnes (396,832 tons) of grain are lined up to unload in Iran, Reuters shipping data showed on Thursday, a sign that Tehran is succeeding in stockpiling food to blunt the impact of tougher Western sanctions.

Iran has been shopping for wheat at a frantic pace, ordering a large part of its expected yearly requirement in a little over one month and paying a premium in non-dollar currencies to work around toughened Western sanctions and avoid social unrest.

Read more: http://www.eurasianet.org/node/65145