Iran News ...


07/31/12

Sanctions no less than military war: Iran's Central Bank chief

Source: Radio Zamaneh

The head of Iran's Central Bank, Mahmoud Bahmani, says: "Sanctions mean nothing short of military war, and we need to begin a series of irregular economic war policies."


CBI Head Mahmoud Bahmani (L) with President Mahmoud Ahmadinejad
(file photo)

IRNA reports that on the sidelines of a meeting on Tuesday with a number of MPs and economic officials, Bahmani said: "We have begun these irregular war policies and have meetings seven days a week in a base that we have established at the Central Bank."

The head of Iran's Central Bank went on to add: "Currently all our banks, including the Central Bank, are under sanctions, but we continue with our business." He emphasized that details of how the banks continue with their business as usual will be announced later.

Central Bank of Iran
Central Bank of Iran

Iran's Supreme Leader Ayatollah Khamenei has said that Iran has been inoculated against sanctions after enduring three decades of them. Last week he also called for the adoption of a "resistance economy" to counter the current international sanctions against Iran.

The European Union and the U.S. have imposed sanctions on Iran's oil exports and its financial sector as part of their nuclear disputes with Iran.

On Monday, the U.S. House of Representatives and Senate negotiators reached an agreement on a new round of sanctions on Iran targeting its energy, shipping and insurance sectors.

The Iranian economy has been under pressure in recent months with a falling national currency and soaring prices.

Bahmani said although foreign currency is no longer provided for travellers abroad, the state will continue to provide foreign currency for students and for patients travelling for treatment.

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