Iran Expanding Use Of Forex Reserves Held Abroad


Iran has stepped up efforts to use its foreign currency reserve assets frozen in other countries despite the US pressures, President Hassan Rouhani said.

Speaking at a Tuesday meeting of the administration’s economic coordination headquarters, Rouhani stressed the need to have access to and use the foreign currency resources that have been blocked outside the country.

After hearing a report from the governor of the Central Bank of Iran about the results of his visit to Iraq, Rouhani said Iran’s use of funds held in other countries has increased although the US sanctions have obstructed the country’s economic interaction.

The allocation of foreign funds to the purchase of basic commodities and fulfillment of the country’s needs in the production sector will continue, the president added.

Governor of the Central Bank of Iran Abdolnasser Hemmati said on Monday that his negotiations with the Iraqi officials have yielded “positive” results, as the Arab country has given its approval to the release of Iran’s frozen assets for the purchase of basic commodities.

The top Iranian banker held meetings with Iraqi Prime Minister Mustafa al-Kadhimi, Governor of the Central Bank of Iraq Mustafa Ghalib Mukheef, and Chairman of Trade Bank of Iraq (TBI) Salem Jawad Abdul Hadi Al-Jalabi during his visit to Baghdad.

Tasnim News Agency

Tasnim News Agency, which claims to be a private news agency in Iran but is reported be close to the IRGC, was launched in 2012. Its purpose is to cover a variety of political, social, economic and international subjects along with other fields.

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