Word: middlemen
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Arguing that prices could be lowered by eliminating the middlemen's profits, Kennedy jetted off to Algeria, but found no crude for sale. Later he approached Saudi Arabian Oil Minister Sheik Ahmed Zaki Yamani and Venezuelan President Luis Herrera Campins. Finally the Venezuelan oil company Petroven agreed to sell him nearly 1 million bbl. at the world price of $26 million. Chase Manhattan Bank provided the necessary credit line. A Puerto Rican refinery in the middle of bankruptcy proceedings agreed to refine the oil and transport it in return for a share of the refined products. The state...
Rick Kief and AI Montgomery knocked off two more opponents at 142 and 150--Ibs. Both of the middlemen looked strong. Montgomery eked out another close one, 8-6, after battling back from a 6-2 deficit...
...embargo on grain will come to be known as a grievous error in judgment. Grain will find its way to the U.S.S.R. through bogus buyers and sellers and middlemen...
Economic sanctions have rarely been successful. There are too many middlemen for supplies to be effectively shut off ?they can simply be routed through friendly countries. There is no global shortage of grain for those who can afford to buy. The Soviets do not really need wheat. They already produce more than they consume; they contracted to buy U.S. wheat only because it is a cheaper way of supplying some western and northern Soviet cities than transporting grain from central Asia. Of far more importance to the Soviet economy is U.S. corn, all of which is fed to livestock...
...banks in Algeria and Libya, which immediately redeposit the money in European banks. Says a Tehran banker: "There is no shortage of brotherly Third World countries willing to help Iran." In addition, some Eastern European countries, including Rumania and Yugoslavia, have offered to act as Iran's middlemen for purchases of machinery and spare parts. Promised Yugoslav Vice Minister of Commerce Atanas Atanasiveski: "Yugoslavia will do all it can to meet Iran's commercial needs...