Economy, Business And Markets

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Abbas Araghchi, the deputy for legal and international affairs of the Foreign Ministry has announced that all of Iran’s frozen assets have been freed. The Central Bank of Iran now has full access to all its resources, he said. “Hard currency is allocated to businesses on a daily basis and this is the best criteria for us to realize that our banking and forex affairs have reached an acceptable level.” Araghchi did however admit that “we still face problems in collaboration with major global banks. Without naming countries or companies for the existing constraints in doing business with international lenders and top insurance companies in the West, the senior diplomat was of the opinion that “the required atmosphere of trust still remains out of reach.”