TEHRAN, Iran,Apr.9
Trend:
Around $1.5 billion of Iran's foreign export revenues have not yet been returned to Iran's economic cycle, the Governor of Iran's Central Bank Abdolnasser Hemmati said, Trend reports via IRNA.
"Following the unfortunate events last Iranian year (started March 20,2020), including the COVID-19 spread, fall of global oil prices, sharp decline of gasoline prices and drop in demands for Iran's petrochemical and steel products, the export revenues did not return to the country," Hemmati said.
"Iran's oil export in May and June 2020 dropped to a minimum, which shocked the foreign currency market," he said.
Among the reasons that have affected Iran's foreign currency market, Hemmati named the following: Iran's reducing its commitments to the Joint Comprehensive Plan of Action (JCPOA), the approval of the Anti-Iranian resolution by the Board of Governors of the International Atomic Energy Agency, sanctions on 18 Iranian banks.
"The International Monetary Fund was not able to provide the $5 billion loan to Iran due to American lobby on the IMF board," he said.