Rohani: Iran Expanding Use of Frozen Assets

Iran has stepped up efforts to use its foreign currency reserve assets frozen in other countries despite the US pressures, President Hassan Rohani said. Speaking at a Tuesday meeting of the administration’s economic coordination headquarters, Rohani stressed the need to have access to and use the foreign currency resources that have been blocked outside the country. After hearing a report from the governor of the Central Bank of Iran about the results of his visit to Iraq, Rohani said Iran’s use of funds held in other countries has increased although the US sanctions have obstructed the country’s economic interaction. The allocation of foreign funds to the purchase of basic commodities and fulfillment of the country’s needs in the production sector will continue, the president added.

Governor of the Central Bank of Iran (CBI) Abdolnaser Hemmati said on Monday that his negotiations with the Iraqi officials have yielded “positive” results, as the Arab country has given its approval to the release of Iran’s frozen assets for the purchase of basic commodities. The top Iranian banker held meetings with Iraqi Prime Minister Mustafa al-Kadhimi, Governor of the Central Bank of Iraq Mustafa Ghalib Mukheef, and Chairman of Trade Bank of Iraq (TBI) Salem Jawad Abdul Hadi Al-Jalabi during his visit to Baghdad.

Also, he said that Tehran attaches priority to consolidating relations with neighboring countries, China, and Eurasian Economic Union (EAEU) member states in all fields. “Iran should design a special plan to bolster economic, energy and technological relations with these countries,” Rohani said on Tuesday. “Iran is seeking to speed up implementation of agreements with regional nations,” he said, stressing the significance of holding joint economic meetings. “Although the US sanctions have aggravated conditions for economic exchanges, fruitful efforts have been made to use the assets,” Rohani further said. - Iran News Daily, Fars