Wednesday, October 5, 2022

CBI Chief: Europe, US Failed to Meet Commitments on JCPOA

Central Bank of Iran (CBI) Chief Valiollah Seif censured certain Western countries, the US in particular, for failing to meet their commitments under a nuclear deal between Tehran and six world powers (also known as the JCPOA).

Speaking at the Euromoney Iran Conference held in London on Thursday, Seif emphasized that according to the Joint Comprehensive Plan of Action (JCPOA),Europe and the US are committed to take all executive and regulatory measures necessary to remove anti-Iran sanctions and facilitate the country’s return to the international markets.

“As we witnessed in the past few months, the commitments (of the US and Europe) have not been met because of the problems that the banking community is facing,” the Iranian official noted.

The Euromoney Iran Conference was held with the aim of providing a platform for Iranian and international banks to discuss the necessary steps for Iran’s re-integration into the international financial community.

In addition, capital market participants discussed the means by which international institutional investors can get exposure to one of the best performing frontier markets.

While the JCPOA, a 159-page nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) came into force in January, some Iranian officials complain about the US failure to fully implement the accord.

Earlier in March, Leader of the Islamic Revolution Ayatollah Seyed Ali Khamenei said Americans have yet to fulfill what they were supposed to do as per the nuclear deal.

Iran still has problems in its banking transactions or in restoring its frozen assets, because Western countries and those involved in such processes are afraid of Americans, the Leader said at the time, criticizing the US for its moves to prevent Iran from taking advantage of the sanctions removal.


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