FATF blacklist raises cost of foreign trade

Financial Tribune – The Financial Action Task Force blacklist means significantly increasing the cost of doing business with the outside world, a senior member of the Tehran Chamber of Commerce, Industries, Mines and Agriculture said.

Referring to the decision by the global anti-money laundering watchdog a week ago to put Iran on its blacklist, Hassan Forouzanfar said this will add to the already heavy foreign trade pressures on Iran.

“The decision has put a complete hold on our interaction…our trade relations will worsen and we could ultimately be forced to maintain our limited trade by spending more time and money,” IRNA quoted him as saying.