Iran Central Bank Governor: Economy Can Withstand US Sanctions

By Staff, Agencies

Iran’s Central Bank Governor Abdolnaser Hemmati dismissed claims that the country is heading toward economic collapse, saying its financial system remains resilient despite the latest sanctions imposed by the United States and its allies.

Hemmati said Iran continues to collect foreign-currency receivables and has access to domestic and undisclosed financial resources, adding that the Central Bank is prepared to inject $2 billion into the foreign-exchange market if needed.

Addressing US President Donald Trump, he said, “Iran has enough foreign-currency reserves.”

He also said exchange-rate pressures are expected to ease, arguing that the recent rise in the currency market is driven largely by psychological warfare rather than fundamental economic conditions.

Meanwhile, Washington this week announced “Operation Economic Outcast” as part of its campaign to restrict Iran’s financial links and pressure foreign entities dealing with Tehran.

Despite the pressure, Iranian economic activity continues. Chinese refiners are importing around 1.2 million barrels of Iranian oil per day this year, only slightly below last year’s pace, while Iranian banks and businesses remain active in Dubai despite US efforts to limit Tehran’s access to regional markets and financial networks.

The Wall Street Journal reported that Iranian banks, airlines, restaurants, and other businesses continue operating in the UAE.

At a Bank Melli branch in Dubai’s old city, around a dozen tellers were reportedly still serving Farsi-speaking customers, with employees saying they had received no orders to halt operations.