Source: Mehr News Agency, Tehran
Central bank chief Mahmoud Bahmani announced on Sunday that Iran gains 150 billion dollar revenues annually which are large enough to counter sanctions.
Mahmoud Bahmani, Central Bank of Iran's Chief
The remark by the central banker comes as the European Union's oil embargo against Iran goes into effect today. The EU countries account for only 15 percent of Iran's oil exports.
For example, Bahmani said, Iran gains 100 billion dollars from oil exports and 40-50 billion dollars from non-oil commodities which double the figure Iran needs for imports.
"Oil revenues in the worst situation meet all Iran's needs to 70 billion dollar imports," he told reporters.
However, he said the country should reduce the import of non-essential goods.
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