Word: payments
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...before Carter halted oil imports from Iran last month. The Japanese firms paid exorbitant sums for the oil, up to $45 per bbl., about twice the average OPEC price. Complained another Administration official: "They never quibbled about price, and when Iran said it would no longer take dollars in payment for its oil, the Japanese were all too willing to give them West German marks...
Pressure is mounting on Chase in Europe to reconsider and reverse the default. One reason: the bank apparently did not tell its European partners that Iran had asked for a transfer of its funds to pay the interest on the loan, but that this payment had been blocked by President Carter's freeze on Iranian assets one day before it was due. Some Europeans now charge that the U.S. banks are acting as mercenary scouts of the Carter Administration in its campaign against Iran and that they have stopped playing the banking game under the gentlemanly rules of prior...
...further than ever into the nervous realm of high finance. While Iranian officials openly delighted in the chaos they were creating, the acting Finance and Foreign Minister threatened to renege on his government's debts to foreign banks and other creditors the world over. Renouncing previous pledges of payment, Abol Hassan Banisadr declared: "We will not pay back these debts. How can we repay loans that former plunderers received from their foreign accomplices and put back into the accomplices' banks?" He put the debts at "$15 billion, possibly more...
Iran has been trying to induce other members of the OPEC cartel to refuse payment for oil in dollars and instead to demand a "basket" of other currencies, presumably West German marks, Swiss and French francs, and Japanese yen. In fact, there is not nearly enough of these currencies available to pay for the huge oil transactions, and European and Japanese governments would wind up unavoidably having to expand their money supplies in a most inflationary way to accommodate the deals. Fortunately, the Saudis and other oil producers plan to continue accepting dollars. To ban them would cause...
...Scotto's conversations over a period of five months. On one 1978 tape, he could be heard accepting $5,000 in cash from Montella in the men's room of a New York City hotel. Montella, the onetime owner of a marine carpentry company, testified that the payment was supposed to help prevent labor troubles...