Economy, Domestic Economy

Imports from Europe to Rise

Imports from Europe to RiseImports from Europe to Rise

An EU court’s decision to rescind sanctions on Iran’s Central Bank (CBI) may increase imports of goods and medicine, said a member of Iran Chamber of Commerce, Industries & Mines. Abolhassan Khalili said sanctions have been imposed over time and their full removal will also take time. The Court of Justice lifted the sanctions due to a lack of evidence on Iranian banks’ involvement in the financing of a nuclear weapons program. Currently, the CBI is in the process of getting the next installment of frozen assets as part of the Vienna talks between Tehran and the six major world powers. Since 2010, western-led sanctions against Iran have been strengthened as the nuclear dispute between Iran and the west intensified.