Iranian frozen assets in Iraq at $5bn

TEHRAN, Oct. 14 (MNA) – The governor of the Central Bank of Iran announced on Wednesday that the volume of Iran's blocked assets in Iraqi banks stands at five billion dollars.

"We are trying to stabilize the situation. It is complex and changing. Tens of billions of dollars of our assets are frozen in foreign banks and even countries that have good relations with Iran can not cooperate with us due to the US pressure," he said on the sideline of the Cabinet meeting.

Expressing optimism about the future, Hemmati added that "These are the last days of the current US president and it is predictable that he increases the pressure."

"In the next three weeks, the pressure on Iran is to increase. We have informed Iranians that the risk in the domestic foreign exchange market is very high and that other things may happen," he underlined.

"One of our main tasks in the CBI has been holding talks with the countries that our assets are blocked in their banks," he said referring to his recent trip to Iraq.

The CBI governor added that the volume of Iran's blocked assets in Iraqi banks stands at five billion dollars.

Hemmati announced on Monday that the Trade Bank of Iraq (TBI) has agreed to release Iran's export revenues and financial resources accumulated in Iraqi banks.

As he said, the assets are to be used for purchasing basic goods to supply the need of the Iranians demands which are exempted from oppressive and unilateral US sanctions. 

He added that the Iraqi PM Al-Kadhimi has expressed content about the accorded agreement. Hemmati said that the PM has vowed to weekly follow up on the implementation of the agreement.

Heading a high-ranking banking and business delegation, Hemmati made a one-day trip to Baghdad on October 12 to meet with Iraqi officials, including Minister of Finance Ali Abdul Amir Allawi and the country's senior banking officials.

HJ/TSN2369435

News Code 164718

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