Iranian lawmaker claims economy resilient to US sanctions

Rahim Zare, a member of the Budget Planning Committee of Iran's Majlis (the country's parliament), has stated that the Iranian economy has become stable and resilient against US sanctions.

He asserted that the outcomes of the upcoming US presidential elections will have no bearing on Iran's economic situation, Caliber.Az reports per Iranian media.

"Our country's economy has reached a level of resilience such that no American machinations can impact the market and the economy of Iran as they once did," Zare remarked.

He noted that every previous US president, whether Democrat or Republican, has consistently imposed new sanctions against Iran, suggesting that little will change in this regard.

"We have effectively neutralised the sanctions imposed by the US and other Western nations. Iran's oil sales have increased over the past two years, despite the tightening of sanctions by the US and Western countries," Zare emphasised.

He concluded that European sanctions are unlikely to significantly affect the Iranian economy, as trade with European nations is minimal.

Notably, in response to Iran's unprecedented attack on Israel on October 1, the United States has announced significant sanctions aimed at disrupting the Iranian regime's revenue streams that finance its nuclear and missile programmes, support for terrorist groups, and ongoing conflicts in the Middle East.

The US Department of State is imposing sanctions on six entities involved in Iranian oil trade and designating six vessels as blocked property.

In parallel, the Department of the Treasury, in collaboration with the State Department, will sanction any individual or entity operating in Iran's petroleum or petrochemical sectors.

Additionally, ten entities are being sanctioned, and 17 vessels identified as blocked for their role in transporting Iranian oil and petrochemicals to US-designated entities, such as the National Iranian Oil Company and Triliance Petrochemical Co. Limited.

The United States remains committed to curtailing Iran's revenue sources that support its harmful activities and will continue to leverage all available tools to hold Iran accountable, working closely with partners and allies to counter its actions.

By Aghakazim Guliyev