Mahmoud Bahmani: CBI Aims to Bypass Sanctions

Central Bank Governor Mahmoud Bahmani Iran CBI

Central Bank Governor Mahmoud Bahmani Iran CBI

Central Bank Governor Mahmoud Bahmani says Iran’s CBI aims to bypass financial sanctions by introducing new guidelines and issuing new orders. According to the restrictions imposed by European Union and the government of United States, Central Bank of Iran has lost its connections with international banks and financial institutions. This has damaged Iran’s economy and Iranian Rial has lost major part of its values against foreign currencies including U.S. Dollar and Euro.

“We are trying to make Western sanctions ineffective solutions against Islamic Republic by defining new and fresh directions in this field. Iran’s economy cannot continue its operation by pursuing single solution so we need to provide several guidelines at the same time to help this economy.” Mahmoud Bahmani said on Monday.

“By changing internal terms and rules we can facilitate the process of circumventing international sanctions and this is very important for our country at the current time.” Bahmani added. Iranian analysts believe that changing economic rules consistently shows the drawbacks and instabilities of Iran’s economy and Central Bank of Iran must stick to one condition rather than innovating new ones.

“This is a new war against Iran which is waged by the United States. When we face with new restrictions we try to address them by changing our rules and this is completely normal in these situations.” Mahmoud Bahmani concluded.

Financial sanctions have cut production of oil in Iran which was the second largest oil producer in world. Now its economy is struggling to find its path but officials of Iran don’t accept the cessation of controversial nuclear program.

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