Code: 678576 A

Governor of the Central Bank of Iran Abdolnasser Hemmati blasted US President Donald Trump for his anti-Iran rhetoric, and announced that most of the US economic sanctions against Tehran have not been effective.

"Our efforts have rendered a great part of sanctions ineffective, and fortunately, the country has a good enough backing to withstand an economic war,” Hemmati said.

He noted that the Central Bank of Iran obtained permits from the heads of the three branches of government to have an active presence in the currency market, in an effort to reign in the plunge of the value of national currency (rial) against the US dollar.

Reports indicate that the recent intervention of the CBI in the currency market has succeeded in bringing relative calm to the market, helping the rial to regain some of its lost values.

He noted that the Central Bank of Iran obtained permits from the heads of the three branches of government to have an active presence in the currency market, in an effort to reign in the plunge of the value of national currency (rial) against the US dollar.

Reports indicate that the recent intervention of the CBI in the currency market has succeeded in bringing relative calm to the market, helping the rial to regain some of its lost values.

Iran signed the JCPOA with the the US, Britain, France, Russia and China as well as Germany in 2015. Based on it, Iran agreed to restrict certain aspects of its nuclear energy activities in return for the removal of nuclear-related sanctions against the country.

US President Donald Trump announced on May 8 that Washington would no longer remain part of the Joint Comprehensive Plan of Action and promised to re-impose the highest level of economic sanctions against Iran.

END

US sanctions
Send Comment