Embroiled in a nuclear standoff with the West, Iran said on Friday it was moving its foreign assets to shield them from possible U.N. sanctions, and flexed its oil muscles with a proposal to cut OPEC output. “Yes, Iran has started withdrawing money from European banks and transferring it to other banks abroad,” said a senior Iranian official, who asked not to be named. Central Bank Governor Ebrahim Sheibani was quoted earlier as saying Tehran had started shifting funds, but he sidestepped a question on whether the assets would go to accounts in Asia. Full Story
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