Iran’s forex policy unaffected by French offer of credit line: Top banker

Tasnim – Governor of the Central Bank of Iran said efforts to supply foreign currency resources are in progress irrespective of a French proposal for the launch of a $15 billion credit line for oil purchases from Iran.

Speaking to Tasnim on Wednesday, Abdonnaser Hemmati said the proposal put forward by France to establish a $15 billion credit line for oil purchases from Iran was only part of the European efforts to save the 2015 nuclear deal and convince Tehran to avoid taking the next step in reducing its commitments under the agreement.

The CBI has devised plans to obtain the required foreign currency supplies regardless of the European offer, he underlined.

Hemmati also noted that the Central Bank has made arrangements to allocate foreign currency for the import of basic commodities, fulfill the country’s necessary demands, and regulate the forex market according to plans.

His comments came after Paris put forward a $15 billion credit line for oil purchases from Iran until year-end in order to convince Tehran not to take the next step in reducing commitments under the nuclear deal, known as the Joint Comprehensive Plan of Action (JCPOA).

French Foreign Minister Jean-Yves Le Drian said talks on the credit arrangement, which would be guaranteed by Iranian oil revenues, were continuing, but approval from the US would be crucial.