22 Nov 2024
Tuesday 28 February 2017 - 09:27
Story Code : 252924

US sanctions threatening Irans banking, IMF warns



Press TV- The International Monetary Fund (IMF) says that Washingtons anti-Iran sanctions may be a threat to the countrys international trade ties.

In its annual report on the Islamic Republics economy, the IMF said on Monday that uncertainty surrounding the sanctions on Iran pose a risk to the nation's banking system.

The US Treasury Department said on February 3 that Washington had imposed sanctions on 13 individuals and 12 entities as part of bids to ratchet up pressure on Iran -- chiefly over Tehrans missile program.

Washington claims that a recent missile test by Iran violated UNSecurity Council Resolution 2231 that endorsed the 2015 nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), reached between the Islamic Republic and the P5+1 group of countries, including the US.

The IMF noted that uncertainty surrounding the nuclear agreement and Irans relations with the US could deter investment and trade with Iran.

It added that reintroducing sanctions "would lower direct investment and capital inflows, and disconnect Iran from the global financial system."

The fund added that the reaming sanctions have hindered the return of international banks to the Iranian market and continue to obstruct large-scale trade and investment.

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