Private Sector Urges Action to Remove Iran from FATF Blacklist

Deputy Head of Iran Chamber of Commerce, Industries, Mines, and Agriculture (ICCIMA) Mohammad Reza Bahraman has highlighted the impact of the Financial Action Task Force (FATF) blacklist on Iranian trade operations, urging the need for addressing the challenge.

“Private sector entities are striving to maintain communication channels and advance negotiations with foreign partners despite sanctions,” Bahraman told the Iran Chamber of Commerce newsroom on the sidelines of the 18th International Exhibition for Mines, Mining, Construction Machinery and Related Industries and Equipment (Iran CONMINE) in Tehran on Monday. He, however, noted that “When it comes to financial transactions, we are met with the powerful chains of FATF.”

He noted that FATF restrictions have significantly increased the cost of trade and discouraged major companies from collaborating with Iranian firms. “This issue is separate from US sanctions. The key to resolving it lies in our own hands,” Bahraman stated.

Calling for swift governmental action, Bahraman urged authorities to prioritize efforts to remove Iran from the FATF blacklist.

The Iran Chamber of Commerce can act as a facilitator, and with its involvement, this process can move faster, he said, calling on the government to make use of the potentials of the private sector in this regard.

Earlier this month, Keyvan Kashefi, an Iran Chamber of Commerce board member, reiterated the ICCIMA’s support for the government’s stance regarding the Financial Action Task Force (FATF).

He noted that the ICCIMA Board of Directors is due to issue a statement in support of government efforts to get the country out of the FATF blacklist.

In his first press conference after taking office in mid-September, President Masoud Pezeshkian pledged his government's commitment to resolve disputes surrounding the FATF and the Joint Comprehensive Plan of Action (JCPOA) to improve Iran's foreign relations and achieve long-term goals. - Tehran Times