Newly elected Iranian president Hassan Rouhani has made his inaugural speech on the Iranian economy. During his address, which is normally a formal and uninteresting affair, he made an announcement which has shocked the international community.
Mr Rouhani, who last month succeeded former premier Mahmoud Achmadinnersbad, announced that he intends to petition the UK government, asking them to take over responsibility for the administration of all Iranian oil revenues as a matter of urgency.
In a move which has shades of Iran's pre-revolution situation in the 1960's and 70's, the president offered the UK a deal which has been described by economists as 'incredibly generous', 'downright crazy' and even 'pure f**kin' mental'.
If the UK government accepts the proposed Iranian scheme, the London treasury will collect all of Iran's vast oil revenues, and will be required to pay back less than 10% of the total tax take to the Islamic Republic in return, keeping the balance for themselves.
Mr Mahmoud Isawfy, the Persian Energy Minister, told BBC Scotlandshire, “This deal makes a lot of sense for Iran and its people.
“While oil prices have been generally rising for many years, and we fully expect they will continue to do so in the future as global reserves diminish, there is still a significant fluctuation in the spot price from day to day.
“Rather than burden the Persian people with this degree of economic uncertainty, we have decided to outsource the management of our energy reserves to the English, who have helped us out in this manner before. Before the revolution in my country, the company which is now known as BP owned all of the oil reserves in Iran. And how we miss those days now. Scottish News, News Scotland - Politics, Referendum, Economy, Culture and intelligent opinion | Newsnet Scotland, uniquely Scottish...