Iran: Bank chief says reduce imports to confront sanctions

By JPOST.COM STAFF
August 8, 2010 19:03

Iran must become less reliant on imported goods in order to survive sanctions placed on the Islamic Republic by world powers, said the head of Iran's central bank on Sunday, AFP reported.

The UN, US and European Union have recently passed sanctions against Iran in response to the Islamic Republic's uranium enrichment program which Western powers believe will be used to make nuclear weapons. Iran maintains that the program exists for energy producing, peaceful purposes.

"Reducing the consumption of imported goods means confronting the sanctions. There is no other way," Mahmoud Bahmani said at a news conference.

He added that the sanctions should be seen as an opportunity to develop Iranian industry to produce goods that were subsequently imported.



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