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Legal Matters

CBI head outlines steps taken to overcome US sanctions

Tehran, Governor of Central Bank (CBI) of Iran Abdolnasser Hemmati outlined the measures implemented to confront the outcomes of US economic pressures by controlling inflation as well as exchange market in the country.

'The Central Bank of Iran has already taken measures required for confronting and foiking the economic pressures of the US, as well as an appropriate arrangement for controlling the exchange market and containing the inflation rate,' Hemmati wrote on his Instagram page.

Efforts for sustaining and strengthening the relative stability in the foreign exchange (FX) market through implementation of special market, strengthening the integrated FX platform known as NIMA, and FX balance of the country are among them, he added.

The measures also include setting FX policies for propping up oil and nonoil exports and leading back the revenues toward the country's economic cycle.

The establishment of financial mechanisms with neighbor and friendly countries and strengthening barter systems for imports also form other steps taken by Central Bank of Iran to neutralize the economic pressures.

Iran's economy has been targeted by the US sanctions with the oil industry at the center stage.

Source: Islamic Republic News Agency IRNA


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