Economy minister: Remaining on FATF blacklist unjustly labels Iran as money launderer

Speaking at the National Non-Oil Export Development Conference in the northwestern Iranian city of Tabriz on Thursday, Abdolnasser Hemmati emphasized that while Iran is actively combating money laundering and implementing regulations, it is unjust to face such accusations due to the blacklist status.

He warned that remaining on the blacklist legitimizes U.S. sanctions and creates global restrictions for Iranians.

Hemmati asserted that even countries like Russia and China avoid FATF blacklisting, emphasizing the need for Iran to navigate the complex international financial waters to safeguard its economic interests.

Meanwhile, the minister highlighted the Iranian government’s priority to facilitate exports, noting that despite severe sanctions, there are significant governance and economic management issues that need to be addressed.

Hemmati called for a predictable economy and reduced export regulations to improve the country’s export future.

He pointed out that Iran’s export volume, including oil, does not exceed $80-90 billion, whereas the top ten Asian countries average around $500 billion.

Discussing financial challenges, Hemmati mentioned the budget deficit, banking imbalances, and issues with pension funds, water, and energy as key obstacles impacting exports.