News ID: 279819
Published: 0404 GMT January 23, 2021

Iran’s foreign trade to remain unaffected by US sanctions: CBI chief

Iran’s foreign trade to remain unaffected by US sanctions: CBI chief

The governor of the Central Bank of Iran (CBI) said the country has adopted such plans that domestic production and its foreign trade will not be harmed even if US sanctions are kept in place.

In a post on his Instagram account, Abdolnaser Hemmati added Iran would never return to the previous conditions because of the CBI’s policies, the ongoing plans, tools designed to handle the situation and monetary policies to eliminate the budget deficit, Tasnim News Agency reported.

The CBI used the sanctions as an opportunity to devise a series of policies and make reforms, he said, adding that the precious experience of nullifying the sanctions gained by the CBI, Oil Ministry and private sector has provided suitable conditions for foreign trade and the growth of national production even if the sanctions continue.

“The growing trend in the exports of oil and petroleum products and the overseas sales of non-oil goods in recent months attests to the veracity of this fact. However, I have no doubt that US sanctions could not follow the previous trend,” Hemmati noted.

In November 2020, Iranian President Hassan Rouhani said his administration had already made its economic decisions irrespective of the result of the US November 3 presidential election.

The hostile target of causing an economic collapse in Iran has ended in failure as the administration has managed to deal with the sanctions and neutralized their adverse effects, Rouhani said in December.


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