Iran’s oil exports rising despite U.S. pressures: CBI governor

June 27, 2019

TEHRAN – The governor of Central Bank of Iran (CBI) said the country’s oil exports are following an upward trend despite the U.S. pressures for cutting them to zero, IRNA reported.

Speaking on the sidelines of a cabinet meeting on Wednesday, Abdolnaser Hemmati noted that the calmness in the country’s foreign currency market is an indication that the U.S. pressures are no longer affecting the market and people are well aware of Washington's psychological warfare.

Mentioning the Europe’s claims of trying for realization of the INSTEX, Hemmati said, they [Europeans] have been making such claims for so long, but we haven’t seen any actual work done.

“Of course, some meetings have been held with the European side to discuss the matter, but we insist that for the mechanism to work there should be actual financial transactions,” he said.

Hemmati further noted that we are not exporting any oil to Europe at the moment and so obviously without INSTEX, there would be no imports as well.

“One solution is for them to buy oil from us, but they say there are facing problems in this regard,” he added.

The governor further mentioned a second solution, saying “The second option is for them to open credit lines for us so that we can purchase goods from them.”

“In any case, if they were willing, launching the INSTEX won’t take even a week,” Hemmati said.

EF/MA

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