Afghan Economy Impacted by Curbs on Iran

EghtesadOnline: The newest sanctions imposed by the United States on Iran will have a negative impact on the business situation of Afghanistan, as Tehran is one of the largest trade partners of Kabul, the Afghan Chamber of Commerce’s deputy head said. Khanjan Alokozai also said on Wednesday that Iran and Afghanistan had recently increased trading more than at any other time in the past, adding that the US sanctions on Iran would harm Kabul-Tehran trade, The Afghanistan Times reported.

News ID: ۷۸۳۶۲۶

11 August 2018

“This is a negative move. When a problem appears there [in Iran], we feel its negative impacts here and our economy comes under pressure. We had already demanded that as a war-hit country, Afghanistan should be free from this. Iran is a good economic partner to us in the region and this move [sanctions] puts negative impact on us,” said Alokozai. US President Donald Trump signed on Monday the first round of new sanctions on Iran, warning international companies and individuals having business affairs with Iran could not operate in the US markets.

The sanctions include import and export of vehicles, passenger jets, vehicle-making machineries, gold and other precious metals as well as currency exchange.

The ceiling of Kabul-Tehran trade reaches $1.2 billion a year, according to the Afghan Chamber of Commerce, Financial Tribune reported.

Besides, the use of Iran’s Chabahar Port is important for Afghan businessmen as a transit hub.

Afghan President Ashraf Ghani’s spokesman, Haroon Chakhansoori, said US sanctions on Iran would harm not only Afghanistan, but also some other countries.

But he said Afghanistan’s economic and trade dependence on Iran and Pakistan has decreased and it has shifted to Central Asian countries.