Iran Economy NewsIran's parliament outlines policies to counter UN sanctions

Iran’s parliament outlines policies to counter UN sanctions

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Bloomberg: Iran’s parliament outlined policies aimed at countering United Nations sanctions over the country’s nuclear program, the head of the body’s economic committee said.

By Ladane Nasseri

Sept. 21 (Bloomberg) — Iran’s parliament outlined policies aimed at countering United Nations sanctions over the country’s nuclear program, the head of the body’s economic committee said.

Changes in policies relating to transportation, trade and foreign exchange are among those under consideration, Arsalan Fathipour said, without giving details, the state-run Press TV news channel reported.

Fathipour said the suggestions will be conveyed soon to the speaker of the parliament, Ali Larijani, according to a report published late yesterday on the channel’s website.

The UN in June passed a fourth round of sanctions against Iran that restrict financial transactions. The U.S. on July 1 passed additional sanctions targeting fuel importers and banks, and European Union governments followed by banning investment and sales of equipment to Iran’s oil and natural-gas industries.

U.S. Secretary of State Hillary Clinton said Sept. 19 that UN-backed sanctions are “biting” Iran’s economy, especially its financial sector.

“The Iranian regime is quite worried about the impact,” Clinton said in an interview on ABC’s “This Week” program.

Iranian officials have played down the sanctions’ effectiveness and say the measures won’t influence the country’s nuclear program.

Supporters of sanctions worry that Iran may be trying to develop nuclear weapons. Iran’s government says it seeks to harness nuclear power for civil use.

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