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Rouhani urges preparations for inflow of released funds
President Hassan Rouhani on Tuesday urged the Central Bank of Iran (CBI) to gear up for the imminent release of the country’s funds frozen abroad.

Speaking at a meeting of the Government’s Economic Coordination Headquarters, Rouhani said it is necessary to prepare for the inflow of the released Iranian foreign exchange resources for financial transactions, Tasnim News Agency reported.

The CBI and other organizations must make plans to handle the provision of the basic commodities and raw materials for domestic production and adapt international banking interaction for the country’s economic boom, he added.

In the meeting, the CBI governor presented a report of the arrangements made for the utilization of the forex resources that would be unfrozen after the removal of US sanctions given the fact that negotiations in the Austrian capital Vienna on the revival of the 2015 nuclear deal between Iran and world powers are in the final stage.

Iran and other parties to the nuclear agreement, known as the JCPOA, have been in talks to resuscitate the tattered deal from which former US president Trump withdrew in 2018 and reimposed and reinforced sanctions on the Islamic Republic.

Trump’s successor Joe Biden seeks to rejoin the accord. Iran wants the US to remove all sanctions in a verifiable way before becoming a member of the deal again.

Diplomats adjourned their meeting to return to their capitals to make what Iran’s top negotiator Seyyed Abbas Araqchi has called, “realistic and necessary decisions about the JCPOA”.

In comments on Monday, Rouhani said the possible removal of US sanctions will result in the flow of foreign investment into the country.

“The sanctions will soon be lifted and foreign investment will flow into Iran,” he added.

The president also noted that Iran’s free trade zones have developed so much that they have been transformed from importers and consumers to exporters and producers.

 

 

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