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Banking

Iran condemns US sanctions as "financial terrorism"

The vice governor for international affairs says financial sanctions will not halt the country's growth, as president Ahmadinejad tells the UN the US's years of domination are over.

In an interview with Euromoney, Reza Raei, vice-governor for international affairs of Iran's central bank, supports the view that financial sanctions are not a big impediment. But just how far can high oil and gas prices insulate the country from the wrath of the world's biggest economy? Dominic O'Neill reports.


Central bank vice-governor for international affairs, Reza Raei

Central bank vice-governor for international affairs, Reza Raei, belittles the consequences of sanctions, as well as vehemently condemning them

"WHAT YOU CAN'T get through the door, you get through the window." This is how one executive of an Iranian quasi-governmental investment vehicle characterizes his country's approach to international financial sanctions imposed by the EU, US and the UN. The Islamic Republic's financial system has certainly become adept over the years at skirting international restrictions. And nothing helps and hinders it more, especially in 2008, than the vast amount of oil and gas that girds its southwestern edges.

Iranian central bank vice-governor for international affairs, Reza Raei, belittles the consequences of the sanctions, at the same time as vehemently condemning them.


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