Iran (IMNA) - Speaking to IRNA in response to U.S. claims about imposing an economic siege on Iran, Farouqi said the country’s vast territory and strategic regional position make a complete trade blockade impossible. He added that many neighboring countries rely on Iran’s capabilities in various fields, providing a foundation for continued economic and commercial relations.
Farouqi said, alongside Iran’s existing regional trade capacities, efforts are underway to remove domestic trade barriers and reduce difficulties faced by traders and economic actors.
Regarding the country’s foreign trade, he noted that various trade routes are being pursued to ensure the flow of Iran’s commercial exchanges continues even amid increased sanctions pressure.
He also pointed to Iran’s membership in trade agreements, saying frameworks such as the Eurasian Economic Union (EAEU) and the Shanghai Cooperation Organization (SCO) offer important opportunities for expanding the country’s trade relations and are being actively pursued.
Farouqi stressed that the combination of these capacities means Iran’s foreign trade will not be completely shut down despite restrictions and external pressures. He said leveraging neighboring countries, regional agreements, and reforms to domestic trade barriers can help sustain the country’s trade flows.
He further noted that bilateral and regional monetary agreements and financial memoranda of understanding with neighboring countries can reduce reliance on intermediary currencies and facilitate liquidity flows, playing an important role in easing foreign trade and expanding Iran’s non-oil exports.
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