Tuesday, September 27, 2022

Iran Bans Advertisement of Foreign Goods

Iranian lawmakers have approved a new law banning any advertisement of foreign products with the goal of supporting domestic production.

The new law was approved during the process to make reforms to the article 104 of the Constitution on the urgency to have an extensive use and promotion of domestic productions and services to meet the national demands.

“According to the law, any TV and radio channel, newspaper and all kinds of printed and visual media carrying advertisements of foreign products similar to those produced inside the country will be subject to penalty,” a report by Tasnim News Agency said.

Meanwhile, all governmental organisations and their affiliates are obliged to use and buy domestic products.

Iran’s Ministry of Industry, Mine and Trade is also required to issue annually a comprehensive list of Iranian products. Carrying advertisements by the mentioned media for such goods are deemed legal.

The decision is made while Iran has once again come under the unilateral sanctions by the US after the White House decided to pull out of the Iran nuclear deal in May 2018. US President Donald Trump re-imposed his country’s sanctions on Iran back in November.

The first phase of US sanctions included a universal ban on Iran’s access to the US dollar, as well as prohibitions against the country’s trade in gold and other precious metals, among other restrictions. The second wave was aimed to bring Iran’s oil exports to zero as claimed by US officials.

The Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei has ordered officials and institutions in charge to prepare to build up the country’s enrichment capacity in case the nuclear deal falls apart after the US unilaterally scrapped it.

Iran and the remaining signatories of the Iran nuclear deal are involved in efforts to preserve the nuclear accord following the US withdrawal.

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