ECONOMY   Banks  

CBI Chief Announces Iran’s Special Measures to Counter US Sanctions

Governor of the Central Bank of Iran Abdonnaser Hemmati explained about the CBI’s measures to counter the new round of US sanctions imposed on the Islamic Republic.

In a meeting with managing directors of various banks of the country in Tehran on Tuesday, Hemmati highlighted the failure of the US sanctions against Iran’s banking system and said the issue indicates the important role of banks in developing the country’s economy and facilitating foreign trade.

He further explained about the CBI’s measures to circumvent Washington’s sanctions and called on all banks to strive to maintain and strengthen the process of foreign trade and financial transfers with all their power and experience.

In remarks released earlier on Monday night, Hemmati had said, “We have been in talks with our trade partners and all the necessary actions have been taken for Iran’s interactions to continue.”

“We were expecting these sanctions, so we had plans in place for them and beyond... considering the possibility of banks being disconnected from SWIFT we have considered alternatives to replace it.”

On May 8, the US president pulled his country out of the Joint Comprehensive Plan of Action (JCPOA), the nuclear deal that was achieved in Vienna in 2015 after years of negotiations among Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Following the US exit, Iran and the remaining parties launched talks to save the accord.

Trump on August 6 signed an executive order re-imposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

He said the US policy is to levy “maximum economic pressure” on the country.

The second batch of US sanctions against the Islamic Republic took effect on Monday, November 5.

News No: 2515
Date: 2018/11/07 - 10:33
News Source: Tasnim News Agency

CBI  US Sanctions  Abdonnaser Hemmati  JCPOA  SWIFT 


Leave a Comment:


Iran Abiding by JCPOA Terms, IAEA Says in New Report

Iran has been abiding by the terms of the 2015 nuclear deal between Tehran and world powers, the latest report from the UN atomic watchdog indicated Monday, days after fresh US sanctions hit the country.

SWIFT Unlinks Iran's Central Bank

Deputy secretary of the US Treasury, Sigal Mandelker, announced that SWIFT had cut-off Iranian financial institutions targeted by the US sanctions, Sputnik reported.

Iran Highly Experienced in Countering Sanctions: Economy Minister

Iran’s economy minister highlighted the ineffectiveness of the US sanctions recently re-imposed on the Islamic Republic and said the country has become highly experienced in circumventing the economic embargoes.

Iran fulfilling commitments under JCPOA: IAEA Chief

Yukia Amano, the head of the International Atomic Energy Agency (IAEA), said Iran is honoring its nuclear-related commitments under the 2015 nuclear deal between Tehran and world powers.

German SMEs to Continue Trade With Iran

Despite tougher US sanctions against Tehran, German small- and medium-sized enterprises will continue trade with Iran, the co-chair of Iran-Germany Chambers of Commerce said, hoping for more support from Brussels.

EU Reiterates Commitment to Iran Nuclear Deal

The European Union announced on Tuesday that it will remain committed to Iran nuclear agreement as long as Tehran complies with the deal.
Upcoming Events
Find a Job !
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners