Iran’s financial activities won’t be heavily affected by new US sanctions – CBI

Sputnik – The new US sanctions will not have a major effect on Iran’s financial and oil activity, Iranian Central Bank Governor said Friday.

“The US government has already done what it wanted. The main work related to the imposition of restrictions, what they do every day, is to hinder Iran’s financial activities and the exports of Iranian oil. In my opinion, after November 6-9, nothing special will happen,” Iranian Central Bank (CBI) Governor Abdolnaser Hemmati told Sputnik.

Hemmati also noted that Iran expected to increase the share of transactions in national currencies in trade with Russia stressing that following the meeting with Russian Central Bank Governor Elvira Nabiullina, “a good agreement on removing the dollar and using national currencies in transactions” have been reached.

“Nearly 30 percent of transactions between Iran and Russia are made in national currencies. Hopefully [this figure] will grow every day,” the CBI governor said.

The first batch of economic restrictions, which include a ban on purchasing the US currency, trading in gold and other precious metals, buying aluminum and steel for industrial purposes, and performing activities related to Iran’s sovereign debt, took effect on August 7. The second portion, including sanctions on Iran’s energy sector and foreign transactions, will come into force in November.

Earlier this year, the United States withdrew from the Iranian nuclear deal, formally known as the Joint Comprehensive Plan of Action (JCPOA), and reimposed sanctions against Tehran and any country doing business with Iranian companies.