Iran Press/ Iran news: Additionally, there is a possibility of entering into a foreign currency deposit agreement in Euro at a rate of 3.5% and depositing deferred dividends for the past two years.
According to reports, following the approval of UN Security Council Resolution 1929, the Namibian uranium mine suspended the membership of Iranian representatives on its board of directors during the 2012 assembly and has refused to pay IFIC dividends for the last two years.
The IFIC Board of Directors has put two steps on its agenda to solve this challenge. Considering that an important part of the shares of the mining company belonged to China, it was decided that a legal package based on U.N. Security Council Resolution 2231 should be prepared to negotiate with China. The basis is the non-inclusion of sanctions on Iran due to the cancellation of Resolution 1929.
The next step is to negotiate with the Namibian government in order to restore Iranian membership on the board of directors with Chinese support. Steps have been taken by IFIC.
In another part of the report, it is stated that a joint delegation from IFIC and the Ministry of Foreign Affairs began negotiations with Chinese counterparts in May-June 2023 during a trip to Beijing. By presenting a well-reasoned and documented legal package, China was persuaded to accept Iranian demands. In the first step, both parties agreed upon:
- The possibility of entering into a foreign currency deposit contract in Euro at an interest rate as high as 3.5% for a period of 12 months at Standard Bank South Africa; previous interest rates were less than 1% for one year.
- Unpaid dividends for the past two years; understandings have been made regarding IFIC's euro deposit with Standard Bank South Africa at a rate of 3.5%.
- The Chinese side promised to support Iran in assembly meetings and restore Iran's membership on the company's board. The first two cases have been implemented, and negotiations are underway with Namibia to obtain a final agreement with Chinese support.
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