Iranian Central Bank is beyond sanctions

Business Materials 13 August 2011 17:30 (UTC +04:00)

Azerbaijan, Baku, August 13 /Trend/

The Iranian Central Bank (CBI) will not be sanctioned by the U.S, Mehr News Agency quoted Deputy Governor for Currency Affairs Seyyed Kamal Seyyed Alias saying.

"According to the international regulations, the central banks are immune to sanctions, " he said.

The West has imposed a sanction against Iran. However, we take measures to deal with this, he added.

He expressed hope that the Iranian Central Bank will not be sanctioned by the West.

"I don't think it will happen," he said.

"We must do more to increase the economic pressure on the regime," the Senators said in their letter to President Obama. "In our view, the United States should embark on a comprehensive strategy to pressure Iran's financial system by imposing sanctions on the Iranian Central Bank."

The U.S. Congress previously approved financial sanction against Iran in 2010, which imposes strict conditions for foreign investors and financial firms and prevents them to invest more than $20 million in Iran oil and gas industries.