Iran's central bank has established a special cell to fight back against Western economic sanctions that the institution's chief described as "no less than military war," the official IRNA news agency reported Tuesday.
Iran
's
central bank has established a special cell to fight back against Western
economic sanctions that the institution's chief described as "no less than
military war," the official IRNA news agency reported Tuesday.
"We have established a headquarters in the central bank, which meets on a
daily basis" and whose task is "to manage the sanctions,"
Central Bank Chief Mahmoud Bahmani was quoted as saying.
"In times of sanctions, we need to carry out asymmetrical economic
warfare, which we have begun...or else we would face difficulties and
obstacles," he said.
Mr. Bahmani didn't provide any details on the cell or its strategies.
Mr. Bahmani added that "all of our banks and the central bank are
currently under sanctions, but we are doing our work."
Iran
is
increasingly feeling the effects of
U.S.
and
European Union sanctions on its economy that have been ratcheted up since the
beginning of July. The
U.S.
sanctions target financial transactions worldwide involving
Iran
's
central bank.
The measures are hurting
Iran
's
all-important oil exports, according to the International Energy Agency, which
sees crude sales dropping 40%.
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