Gov’t Determined to Overcome Sanctions

EghtesadOnline: President Hassan Rouhani said his administration is determined to tackle issues arising from the United States' sanctions by both mobilizing domestic capacities and diplomacy with the world, but will stick to the principles of the Islamic Republic along the way.

News ID: ۷۴۹۱۸۱

14 December 2019

"The government is determined to foil this plot [of the US] both by boosting domestic production and other methods, including negotiation," he said during a Cabinet meeting on Wednesday, the presidential website reported.

Washington imposed sweeping sanctions on Iran after it withdrew from the 2015 nuclear accord last year. Its so-called maximum pressure campaign is aimed at forcing Tehran to come to the negotiation table for a new deal under which Iran would make more concessions in return for the lifting of sanctions.

Iran has declared repeatedly that it is open to negotiation, but only on condition that the US returns to the pact and fully lifts its sanctions first, according to Financial Tribune.

Rouhani stressed that his administration will spare no effort to defeat the sanctions by any possible method, but will act within the framework of the country's principles and will not cross the Islamic Republic's redlines.

Tehran has adopted a policy of maximum resistance against the sanctions, trying to find solutions without giving in to US demands to revive its economy.

Rouhani acknowledged that problems caused by sanctions, including the decrease in government income and difficulties in banking relations and the export of oil and goods have affected people's livelihoods, but added that people should know that as long as the cruel sanctions are in place, these problems will persist.

"We need to try to overcome them … We should either circumvent the sanctions or compel the enemy to repent," he added.

Iran has engaged in talks with its partners to conduct trade by using local currencies.

A financial mechanism called INSTEX (Instrument in Support of Trade Exchanges) has also been devised by the European parties who are signatories to the deal to facilitate trade with Iran through a non-dollar system.

Six European Union countries have recently agreed to join the mechanism that bodes well for the eventual activation of the long-delayed mechanism.