of Wimpole Ltd and recovered the unpaid their invoices from the directors of Wimpole Ltd personal assets. Opening February 17, 2008: The Iranian Oil Bourse was inaugurated in a video conference ceremony from the capital Tehran attended by ministers of oil, finance and economic affairs as well as chairman of Iran's Stock Exchange and a number of other officials and financial experts. The transactions will be made in Iranian rial, yen, euro and other major currencies. The Iranian Oil Bourse will probably accept Russian ruble as well. The first transaction of the IOB took place at 9:30 the following morning, when 2200 tonnes of low-density polyethylene (LD-PE), held in 100 tonne cases, were traded. November 2008: According to Chairman of Board of Directors for Iranian Oil Bourse Mehdi Karbasian ever since the launch of the first phase of the bourse, transactions worth over $1.5 billion have been made on different oil and petrochemical products. October 2009: IRNA reported that "National Petrochemical Company's Managing Director Adel Nejad-Salim said in the opening ceremony that all petrochemical products will be gradually offered on the market." In the first phase, only petrochemical products such as polyethylene and methanol were traded on a spot basasis and in Iranian Rial. However, with the completion of the second phase, crude and by-products of oil can also be traded on the exchange in both Iranian Rial and Euro. November 2009: IME reported that "the international trading floor of crude oil and petrochemical products in the Kish Island was put into operation." June 2011: Iran summarized the 3 phases of Kish Stock Exchange's opening roadmap early June 2011: Iran started fuel oil transaction in Kish Oil Bourse : 35,000 tons at 621.35 dollar per ton and payment was made through Euro or Dirham accounts overseas. July 2011: Third phase of Iran Crude Oil Exchange has been launched. A shipment of 600,000 barrels of heavy crude oil were offered at the Kish International Trading Floor on July 23, 2011 and were traded at USD 112.65 per barrel. August 2011: A shipment of 500,000 barrels of heavy crude oil were offered at the Kish Commodity Exchange on 18 August 2011 and were traded at USD 105.49 per barrel and received payments in euro and dirham. The crude consignment was traded without any discount or additional premium. March 20, 2012: The Iranian oil bourse will no longer trade oil in the US