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Iran Central Bank Head Seeks Import Reduction - ASHARQ AL-AWSAT English Archive
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TEHRAN, Iran, (AP) – An Iranian state-owned newspaper quotes the country’s Central Bank governor as saying imports should be decreased in response to the sanctions imposed on Iran over its nuclear program.

Mahmoud Bahmani was quoted by the Iran daily on Tuesday as saying the focus should be on importing “necessary goods,” and that the sanctions would help boost domestic production.

Iran’s economy has been hard hit because of years of sanctions. Its annual import bill tops $50 billion, and Bahmani’s call appears aimed at cutting expenses.

The U.N. in June imposed a fourth-round of measures that were followed by additional U.S. and EU sanctions over Iran’s refusal to halt its uranium enrichment program.

The West fears Iran’s nuclear program targets weapons production, a claim Iran denies.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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