Iran-Europe monetary mechanism established: CBI governor

October 29, 2018

TEHRAN – The governor of the Central Bank of Iran (CBI) has said a bilateral monetary agreement has been struck between Iran and Europe, through which exporters can receive their revenues from exports to other countries.

Abdolnaser Hemmati said the details of the monetary mechanism with Europe had been discussed with the Europeans in Brussels last week, Mehr reported.

“The monetary mechanism is based on the mutual understanding that Iranian and European companies and business people have the tendency to establish and keep commercial ties with the other side despite U.S. unilateral withdrawal from the nuclear agreement,” Hemmati added.

MH/

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