BREAKING NEWS

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.

US to announce new restrictions on firearm exports

By REUTERS

04/26/2024 07:54 AM

IDF, Hezbollah exchange fire on Lebanon border

By JERUSALEM POST STAFF

04/26/2024 01:22 AM

Bernie Sanders to Netanyahu: you are using antisemitism as a distraction

By JERUSALEM POST STAFF

04/26/2024 12:33 AM

Yeshiva University re-opens admissions amid safety concerns on campuses