TEHRAN - Iran's trade minister said on Monday sanctions were hitting the economy but warned Western countries threatening to tighten the measures that they were harming their own interests.
In a change of tone from Tehran's usual line that sanctions have not damaged the economy, Iranian Industry, Mine and Commerce Minister Mehdi Ghazanfari said the West was losing out too."Sanctions are a lose-lose game in which both side make a loss. If they don't invest in our oil projects, they will lose an appealing market," Ghazanfari told a news conference.
The comments came ahead of an expected announcement by the US Treasury Department later on Monday designating Iran an area of "primary money laundering concern" a move allowing it to take steps to further isolate Iran's financial sector.