‘Iran’s economy strong enough to withstand U.S. sanctions’

July 30, 2019

TEHRAN – A member of Majlis Economic Committee said on Tuesday that the country’s economy has the capacity to pass through the unjust U.S. sanctions, IRIB reported.

Mentioning the recent improvements in the value of Iranian rial against the U.S. dollar due to the Central Bank of Iran (CBI) policies for shielding the currency against the U.S. sanctions, Mohammadreza Pour-Ebrahimi noted that this upward trend will continue through the rest of the year.

He further mentioned the government’s policies for encouraging domestic production, saying that “Fortunately, replacing imports with domestic production and consequently eliminating unnecessary commodities from the market has led to a balance in the currency market.”

He also underlined the significance of the CBI’s new policies in organizing the forex market and noted that the central bank's decisions in moving towards stabilization of this market and formation of the integrated forex market has been an important positive sign for the country’s economy.

Pour-Ebrahimi went on mentioning Iran’s decision in taking new steps in reducing the country’s obligations to the Joint Comprehensive Plan of Action (JCPOA) and said a new atmosphere has emerged in the country in the face of sanctions, in particular, the Supreme National Security Council decision in reducing the country’s adherence to JCPOA in order to address economic demands, has made it clear for Europeans that they need to take action. 

“I believe Iran now has the upper hand in the economic negotiations with the Europe and the chances of positive economic circumstances in the future are getting higher,” he said.
“Lack of compliance to the U.S. sanctions by countries such as Russia, China and Turkey, has led to a breakthrough from the sanctions and a sign of their failure,” he added.

EF/MA

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