Business And Markets

Iran: Positivity About Unlocking Forex Overseas

Iran: Positivity About Unlocking Forex OverseasIran: Positivity About Unlocking Forex Overseas

The Central Bank of Iran hopes it would be able to ease the unprecedented pressure on the currency market after billions in assets are unlocked overseas.
Speaking on the sidelines of a Cabinet meeting on Wednesday, the CBI governor, Abdolnasser Hemmati, referred to talks for releasing Iranian assets long locked in other countries, IRNA reported. 
Hemmati was in Baghdad Monday for talks with Iraqi leaders on unlocking $5 billion in Iran’s unpaid energy export bills. The assets have been blocked due to the US economic sanctions.
“It the visit was successful and we are hopeful to use our resources in that country, which is more than $5 billion.”
As per an agreement with the Iraqis, Iran will use the freed assets to import basic goods. The assets are mainly unpaid gas and electricity bills.


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