Iran’s executive VP: Approval of FATF will alleviate sanctions pressure

The Iranian executive vice president says that the government is persistently pursuing the approval of the Financial Action Task Force (FATF), which will significantly reduce the pressures resulting from sanctions.

In response to strong reactions from some individuals, including parliament members who are against reviewing the hurdles for Iran’s accession to FATF in the Expediency Council, Mohammad Jafar Qaem Panah emphasized that hearing a single voice is not compatible with democracy.

He stressed that parliament members should be able to express their opinions, and the government is open to listening to opposing views, but reminded that FATF has already been approved by the parliament and cannot be re-voted.

Qaem Panah expressed hope that the approval of FATF in the Expediency Council will alleviate a significant portion of the sanctions’ pressures.

The current Iranian administration has put exiting from the FATF blacklist high on the agenda, arguing not joining the taskforce has deprived the country of many economic opportunities.

FATF is an intergovernmental body that sets standards and regulations for combating money laundering and terrorist financing.

Opponents in Iran argue that accepting the last two conventions and joining the task force would give too much control to foreign actors.

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