News ID: 234053
Published: 0406 GMT November 10, 2018

CBI governor: Iran in positive talks with sanctions-exempted states

CBI governor: Iran in positive talks with sanctions-exempted states

Iran is conducting positive negotiations with the eight states which were granted waivers from US sanctions to purchase oil from Tehran, said the governor of the Central Bank of Iran (CBI) on Saturday.

Abdolnasser Hemmati underlined that the US has failed in its policy to zero down Iran's crude exports, saying that Tehran is in 'serious and positive' talks with the eight countries which have been exempted from oil embargos, IRNA reported.

He pointed to Iran's efforts to decrease dependence on oil revenues and said that non-oil exports reached $27 billion in the seven months from March 21.

"It shows over 13 percent increase compared to the figure for the same period last year," Hemmati said.

Iranian officials have in many cases reassured that the vow to cut Iran's oil revenues to zero is a wild dream that will never to come true. Both the Iranian government and parliament have taken preparatory measures to minimize the negative impacts of the move.

"The Central Bank of Iran has drawn up a number of plans to cope with the worst-case scenarios after the second round of the US sanctions was enforced. Meanwhile, we have managed to build up our foreign exchange reserves over the past months," Hemmati said last week.

According to Hemmati, the CBI has focused mainly on stabilizing foreign-exchange market over the past few weeks by buttressing Iran's national currency.

"I'm sure that the great Iranian nation will leave the current volatile situation behind successfully. We are now developing new plans to restore balance to the market and prevent inflation from going up further," he noted.

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