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Goldman Sachs Cashing in On Iran Nukes Print E-mail
by Tom McGregor    Tue, Feb 11, 2014, 08:11 PM

While the United States had imposed economic sanctions on Iran, the Wall Street-based investment banking firm, Goldman Sachs, was buying up stockpiles of uranium from Iran. Now that President Barack Obama has lifted sanctions on Tehran, Goldman Sachs is planning to sell off its uranium assets and score some big time profits.

Reuters reports that, "Goldman Sachs and Deutsche Bank are quietly trying to get out of a business few people know they are even in: trading supplies of raw uranium known as yellowcake. In the last four years, the banks have amassed low-grade stockpiles of the nuclear fuel ingredient larger than those held by Iran, and enough to run China's nuclear plants for a year."

Goldman Sachs has established a trading desk called, NUFCOR, to arrange uranium deals.

According to Reuters, "Goldman's uranium business can trace its roots back to an apartheid-era South African trading conglomerate that sold Iran its only known source of foreign yellowcake 35 years ago. To this day, that uranium delivery underpins Iran's disputed enrichment programme, which western powers fear is aimed at developing atomic weapons, although Iran denies that."

Numerous Goldman Sachs executives are major donors to President Barack Obama, Hillary Clinton and the Democrat Party.

To read the entire article from Reuters, link here:

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