Iran’s export confederation chief emphasizes need for FATF compliance

In an interview with IRNA news agency, Mohammad Lahooti highlighted that the current administration is determined to resolve issues related to Iran’s inclusion in the FATF.

He pointed out that although sanctions have adversely affected the economy and foreign trade, being on the FATF blacklist is an even more significant challenge.

He also warned that failure to join the FATF could lead to losing key trade partners like Russia and China, as the countries conduct substantial trade with Europe and the US and are cautious about FATF regulations.

Lahooti noted that without resolving the issue, financial and trade interactions with other countries would become increasingly difficult and the situation would force Iran to rely on costly and less competitive methods to circumvent sanctions.

He also mentioned that the Iranian Leader has approved the review of the Palermo and CFT conventions, the two sticking points for Iran, by the Expediency Council, which had been stalled since 2019.

President Massoud Pezeshkian has committed to facilitating financial and trade relations globally, emphasizing the urgency of FATF compliance for economic stability.