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Iran bans export of 50 items

Source: Radio Zamaneh

Iran has barred the export of 50 products made in Iran to avoid domestic shortages due to restrictions imposed by the U.S. and the European Union.

Donya-e-Eqtesad reported on Tuesday that Mohammadreza Naderi, the deputy head of Iranian Customs and Duties, said the ban is aimed at "preventing shortages of these good in the market."

The goods include wheat, flour, sugar and other food products, as well as metals such as iron and steel, and medical and laboratory items. A more comprehensive list of banned goods is to be issued later, officials said.

The Mehr News Agency also reports that the ban includes the re-exportation of some goods using government-subsidized currency transactions. For some cross-border transactions, the government offers a special rate of 12,260 rials per dollar, compared to the open-market rate of 32,000 rials per dollar.

The head of the Tehran Chamber of Commerce has contested the list, saying the private sector was not consulted on its development.

The United States and the European Union have imposed widespread sanctions on Iran in response to the nuclear disputes with the Islamic Republic. Iranian authorities claim their nuclear activities are peaceful, but the U.S. and the EU are not convinced.

Sanctions on Iran have significantly reduced its ability to export oil and import many goods. Shortages in medical supplies have been of grave concern, as pointed out this month by UN Secretary General Ban Ki-moon.

... Payvand News - 10/31/12 ... --

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