The Iranian government has worked out a comprehensive program to minimize the impact of US reinstated sanctions on the national economy, local media reported on Saturday, citing the country's Vice President Mohammad Bagher Nobakht.
MOSCOW (Pakistan Point News / Sputnik - 15th September, 2018) The Iranian government has worked out a comprehensive program to minimize the impact of US reinstated sanctions on the national economy, local media reported on Saturday, citing the country's Vice President Mohammad Bagher Nobakht.
According to the IRNA news agency, quoting Nobakht, who also heads the Plan and Budget Organization, the program consists of 12 detailed plans.
One of the plans reportedly covers joint efforts of the government and the Central Bank of Iran (CBI) to address the Currency market volatility. Another plan is aimed at creating new jobs.
In May, US President Donald Trump announced his decision to leave the Joint Comprehensive Plan of Action (JCPOA), or the Iran nuclear deal, and reimpose sanctions on Tehran and third states doing business with Iran.
The first set of restrictions, which include a ban on purchasing the US currency, trading in gold and other precious metals, buying aluminum and steel for industrial purposes, and performing activities related to Iran's sovereign debt, took effect on August 7. The second portion, including sanctions on Iran's energy sector and foreign transactions, will come into force in November.
The US move was condemned by other signatories to the accord, who have expressed their commitment to preserving the deal.
