Iran's President Hassan Rouhani said Sunday the country had won a legal "victory" over $1.6 billion of its assets that had long been frozen on a US request in Luxembourg.
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All tagged Central Bank of Iran
◢ Iran said on Thursday that it has sought immediate financial assistance from the International Monetary Fund to help it combat one of the world's deadliest coronavirus outbreaks. The various loans that can be granted by the IMF must be approved by the institution's executive board, where the United States practically has a veto on decisions.
◢ Iran has launched a new domestic bond to support manufacturers and non-oil sectors, Central Bank Governor Abdolnaser Hemmati said. The new bond is expected to raise the equivalent of $3.6 billion at the current free market exchange rate.
◢ The U.S. sanctioned Iran’s central bank and sovereign wealth fund on Friday, a move aimed as retaliation for last weekend’s attacks on key Saudi Arabian oil facilities. “These are the highest sanctions ever imposed,” President Donald Trump told reporters during a meeting.
◢ Iran’s battered currency is starting to recover in the unregulated market as government policies to defend it against U.S. sanctions take effect. The central bank sought ways to protect the currency with measures that include setting up a government-run foreign-exchange platform known as NIMA to quell the black market and controlling interest rates offered by lenders.
◢ Iran will merge five lenders linked with military institutions into state-run Bank Sepah amid a wider push by President Hassan Rouhani for the armed forces to divest from businesses. The entities being consolidated include Ansar Bank, Ghavamin Bank, Hekmat Iranian Bank, Mehr Eqtesad and the Kowsar financial credit institution, the Central Bank of Iran said in a report on its website Saturday.
◢ The US slapped fresh sanctions on Iran Tuesday, accusing it of creating a complex web of Russian cut-out companies and Syrian intermediaries to ship oil to Damascus, which in turn bankrolled Hezbollah and Hamas. The US considers both Hezbollah, a powerful Lebanese militia, and Hamas, the Palestinian Islamist group that controls the Gaza Strip, to be terrorist organizations.
◢ President Hassan Rouhani said Saturday that the divisions between the US and Europe over renewed sanctions on Iran were a "rare historical victory" for the Islamic republic. EU countries have fiercely opposed the decision by US President Donald Trump to abandon their landmark 2015 nuclear deal with Iran and reimpose sanctions—the last of which will return on November 5.
◢ The European Union said Monday its members would set up a payment system to allow oil companies and businesses to continue trading with Iran in a bid to evade sanctions after the US withdrew from a nuclear agreement. Iran and the European Union announced their defiance towards US President Donald Trump's administration after high-level talks at the United Nations among the remaining members of the accord.
◢ Iran replaced its central bank chief on Wednesday, local media reported, amid fallout over banking scandals and the crisis facing the country's economy. Valiollah Seif, who had served as the bank's governor since President Hassan Rouhani took power in August 2013, was replaced by Abdolnasser Hemati following a cabinet meeting, according to the official IRNA news agency.
