Business And Markets

Plans to Expand Barter Trade

Plans to Expand Barter Trade  Plans to Expand Barter Trade

The Governor of Central Bank of Iran Abdolnasser Hemmati says the government will expand barter trade as the US sanctions make export transactions difficult.
In a post on his social media account on Friday, Hemmati said expanding barter deals will help promote foreign trade that has suffered due to the tough US sanctions (read economic war) and the coronavirus pandemic. 
“To grow foreign trade and make the best use of domestic production capacity, besides other options the barter system [oil for goods] will be expanded,” he wrote. 
In a meeting between Hemmati and some ministers on Thursday, the Oil Minister Bijan Namdar Zanganeh spoke about a plan to launch a “single window” system to facilitate imports of essential goods in lieu of crude oil export. 


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