IFP Exclusive

Iran’s Not Joining FATF Detrimental: Official

A senior Iranian official says if Iran does not join the Financial Action Task Force (FATF) that would mean the country will be deprived of selling oil, even to China.

The remark was made by Pedram Soltani, the vice chairman of the Iranian Chamber of Commerce.

“Under the current circumstances, in order to be able to keep open our banking and financial channel with the European Union and China and all countries that are willing to buy petroleum from us, Iran’s monetary and banking transactions need to be recognised as low-risk transactions,” Soltani told khabaronline.

“Otherwise, costs will rise so much that they will impede monetary and banking transactions to a great extent,” he added.

“On the other hand, as we are under the pressure of sanctions, and this pressure could increase or have unpredictable consequences in the future, which we are not aware of at the moment, so we should manage [the country’s] economy in such a way that it remains transparent on the domestic front,” he said.

The official noted that fighting money laundering will benefit domestic economy, people, healthy enterprises and the government.

He said fighting money laundering will increase the government’s income.

“A major part of this rise in the government’s revenues comes from the prevention of tax evasion,” Soltani added.

He said those opposing Iran’s accession to the FATF see the “empty half” of the government’s performance.

Elsewhere in his remarks, Soltani touched upon the United States’ sanctions against Iran, and added negotiations will not help settle this problem

So, he added, the right strategy would be to make decisions to improve the country’s economy.

IFP Editorial Staff

The IFP Editorial Staff is composed of dozens of skilled journalists, news-writers, and analysts whose works are edited and published by experienced editors specialized in Iran News. The editor of each IFP Service is responsible for the report published by the Iran Front Page (IFP) news website, and can be contacted through the ways mentioned in the "IFP Editorial Staff" section.

Recent Posts

Iran hands death sentences to 3 Israel spies over their role in nuclear scientist assassination

An Iranian court has sentenced three individuals affiliated with Israel to death after they were…

58 mins ago

Iran says to respond to Israel’s assault at appropriate time

Iranian Foreign Minister Seyed Abbas Araghchi has warned that Tehran will give a proper response…

1 hour ago

Judiciary: Jamshid Sharmahd dies before execution of death sentence

A spokesperson for Iran’s Judiciary announced that Jamshid Sharmahd, leader of the “Tondar” terrorist group…

1 hour ago

Israeli PM considers offering millions to Hamas for release of hostages

Israel's Prime Minister Benjamin Netanyahu has proposed offering Hamas “several million dollars” for each Israeli…

1 hour ago

Israel’s army struggling with shortage of soldiers: Report

Israel’s military is facing a critical manpower problem as it runs short of thousands of…

2 hours ago

Iranians in Europe protest against EU sanctions on Iran Air

Iranians residing in Europe have launched an online petition to protest the European Union and…

2 hours ago