Iran has brokerage ties with 450 foreign banks: VP

Ardabil, Aug 7, IRNA – Following implementation of the Joint Comprehensive Plan Of Action, Iran has reestablished brokerage ties with 450 foreign banks, Vice President for Executive Affairs Mohammad Shariatmadari said.

In line with policies of the Resistance Economy, Iranian banks are promoting relation with their foreign counterparts, Shariatmadari said in a local ceremony on Saturday.

The vice president voiced hope that world’s big banks also join in similar to their smaller peers and gradually engage with Iranian banks.

Reestablishment of inter-banking relations and exchange of local currency through the World Bank takes time, the official added.

Praising government efforts for removal of sanctions, he said that enemies had planned to decrease Iran’s oil export by 20 percent per year.

After implementation of the JCPOA, the oil export increased to up to two million barrels per day, while it was less than a million in the sanctions era, Shariatmadari said.

He noted that the nuclear deal is part of Iran’s foreign policy.

The Vice President also referred to recent visit by Iran’s foreign minister to West Africa and said development of ties with the world will not be limited to enhancement of ties with the West.