News ID: 264167
Published: 1226 GMT January 10, 2020

Iran getting ‘better’ on foreign oil sale, reclaiming money: CBI

Iran getting ‘better’ on foreign oil sale, reclaiming money: CBI

Iran’s chief banker said Tehran has devised alternative ways to bypass US embargoes against its oil exports and to retrieve revenues.

Abdolnaser Hemmati, the governor of the Central Bank of Iran (CBI), said Thursday that the government had been enjoying more oil-driven income in the recent past, thanks to new methods it was using to counter the sanctions, reported Press TV.

“I assure people that the country’s economic conditions are not grim but we are in a very good position through better methods we have found for supplying currency and selling oil,” said Hemmati.

The comments came as Iran’s rial began to surge against major international currencies on Thursday after several days of trading on year-long lows.

The surge came following Iran’s missile attacks on two US military bases in neighboring Iraq, a move which came in response to US assassination last week of a senior Iranian military commander who was on a mission to the Arab country.

Hemmati had said that the CBI would take action to restore forex prices to normal levels.

He said that the fall in the price of US dollar, sold at 135,000 against the rial earlier in the day, and other major currencies would continue in the coming days.

The official also rejected reports that Iran had serious difficulties bypassing American sanctions and selling its crude.

“Today, the oil of the country is sold and the due payment is received,” said Hemmati, adding, “We managed to neutralize the harshest and the most unprecedented sanctions of the enemy.”

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