29 Mar 2024
Saturday 3 November 2018 - 10:31
Story Code : 325420

CBI Governor: Iran ready for worst-case scenarios

Press TV - Governor of Central Bank of Iran (CBI)Abdolnaser Hemmati saysthe US has failed in its efforts to impose sweeping sanctions on the Islamic Republic of Irans oil exports.

In his latest Instagram post, Hemmati underlined that it is no secret any more that the US has failed to carry out its earlier threats to push down Irans oil sales to zero under various pretexts.

The Central Bank of Iran has developed various plans to cope with the worst-case scenarios after the second round of the US sanctions is carried out. Meanwhile, we have managed to build up our foreign exchange reserves over the past months, he said.

According to Hemmati, the Central Bank of Iran has been focused mainly on stabilizing foreign-exchange market over the past few weeks through promoting Irans national currency.

Im sure that the great Iranian nation will leave behind successfully the current volatile situation. We are now developing new plans to restore balance to the market and prevent from further inflation, he noted.

The remarks come after the US administration earlier agreed to allow eight countries to continue purchasing Irans crude oil after Washingtons sanctions on Tehran take place next week.A senior administration official told Bloomberg that waivers were aimed at preventing oil price hikes and would be granted in exchange for continued import cuts.

Iran has vowed resistance in the face of Washingtons economic pressure. It is now in talks with other five signatories to the deal France, Britain, Germany, Russia and China to help keep the international document alive and blunt the impact of the returning US bans.

EU and E3 have jointly condemned Washingtons fresh sanctions on Irans economy, vowing to protect European firms doing business with Tehran.
https://theiranproject.com/vdcf0tdmxw6d0ja.r7iw.html
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