Iran Has Lifted A Ban On 47 Goods Imports

- Jan 23, 2019 -

(The news from Singapore UNL Shipping & Logistics Pte Ltd ).

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Iran's ministry of industry, mining and trade has lifted a ban on 47 items from the list.The 47 goods respectively belong to "cars and locomotives", "mining and mining industry", "energy and power", the textiles and clothing, metal and household appliances and "agriculture" and other categories, including clothing, footwear, automotive, copper, lead, tin ores and concentrates, leather, ventilation system, fluorescent lamps, batteries, gas meter and industrial goods such as milk powder.

At 2 PM et on May 8, 2018, trump officially announced that the us withdrew from the "" Iran nuclear agreement" "and reimposed the highest-level sanctions on Iran.

On November 5th America's Treasury Department announced the full resumption of sanctions against Iran.In its largest one-day action against the Iranian regime, the Treasury Department's overseas asset control office (OFAC) imposed sanctions on more than 700 individuals, entities, aircraft and ships.

In June 2018, the Iranian government issued a ban on the import of 1,339 kinds of goods, which also resulted in the related goods being unable to clear customs.Importers have complained in meetings with customs about lengthy registration procedures for import orders, missing deadlines, foreign exchange allocations and expiring trade CARDS.Under the new rules, the government now allows shipments of goods to free trade zones and special economic zones.

Iranian customs has taken emergency measures to speed up the clearance of imported goods and reduce the backlog of goods at its ports, according to the new head of the Iranian customs office, mohammad mirashrafiq.In the nine months to December 21, 2018, 18,900 of the 42,000 containers in the customs backlog were abandoned, the agency said.Customs officials said that under the customs emergency plan, abandoned containers at abbas port would be cleared within a week.

Iran's central bank is trying to keep foreign exchange markets stable

Last year Iran's central bank officially renounced the dollar as the currency of international settlement, preferring the euro and the yuan.Make the RMB one of the three major reserve currencies.

Iran's central bank has increased the share of its foreign exchange reserves held in yuan to 15 percent, the Persian edition of Iran's economic online reported on January 15.

On Sunday, Iran's central bank governor mohammad khemati said the United States' endless political and economic challenge to Iran would end in failure, as it has in the past.

Iran's foreign exchange export earnings to major trading partners such as India, South Korea and China have accelerated, trade with Turkey, Iraq and other neighbors is steadily growing, and the central bank's ample foreign exchange reserves and effective measures in the foreign exchange market will again frustrate the U.S. plot to undermine Iran's foreign exchange market.Iran's central bank issued a statement to the public on Saturday, saying it was able to maintain stability in the foreign exchange market after the country's currency, the rial, briefly fell sharply.On Sunday, the dollar fell back below $110,000 to the riyal.

The central bank's top financial decision-making body, the monetary and credit council (MCC), has approved new rules for the foreign exchange market, the bank's website said.The new rules aim to establish a transparent electronic platform under MCC supervision to conduct foreign exchange cash transactions.

The new foreign exchange market, with Banks and accredited currency exchanges as participants, will initially focus on cash transactions through which exporters can trade some of their export earnings.The central bank hopes to use this to improve the transparency of foreign exchange transactions and create conditions for a moderate exchange rate.

The move is another effort by the central bank to regulate the foreign exchange market, which has long been dominated by informal traders.At one point last spring, the central bank banned all foreign exchange trading outside the banking system.'the function of the foreign exchange market is to find prices and provide services for people to exchange small amounts of money,' central bank governor mehmet said recently.

Iran's central bank governor mohammad khemati told a meeting of economists that the United States and its Allies have been waging economic and psychological warfare against Iran in an attempt to disrupt its foreign exchange markets.The central bank is now in full control of Iran's foreign exchange markets, and the momentum for exchange rate stability has gained ground.

Hector martinez said that the central bank will also take a series of measures to stabilize the exchange rate, including continued to expand the number with a major trading partner countries currency swap, the upcoming rial deposit instruction, has already begun to run foreign exchange cash electronic trading platform, coupled with the monetary system reform plans to continue to bring good stable foreign exchange market expectations.

If the SPV fails, Iran will move closer to China and Russia

The European Union's special purpose vehicle (SPV) to boost trade with Iran will soon be established, Iran's deputy oil minister, emir hossein zamaniyeh, told a meeting of the organization of petroleum exporting countries (Opec) on Sunday."Under pressure from us sanctions, not a single European official has said that a payments system is impossible," he said.These efforts will soon bear fruit."While we will not wait for this mechanism to be established, we will continue to work as planned without the implementation of the SPV," he stressed.

On January 13, the financial BBS newspaper reported that the Iranian parliament's national security and foreign policy committee members at the jedi said recently that if the eu is not open in time the special pay channels (SPV) in order to maintain trade with Iran, Iran would choose to deepen relations with China and Russia, the European companies will be hanging on one side, become the main losers of the European Union postponed establishing SPV.European countries could not even show the minimum of authority to resist us pressure, he said, a weakness that would threaten their own interests before it hurt Iran.

Mododi called on Europe to cut tariffs on imports from Iran to zero, saying the move would send a signal that Europe is serious about expanding trade with Iran.

"We want European governments to use their capacity to develop trade with Iran, and we advise them to consider their tariff policy on Iranian goods," mododi said."This may not have a big impact on trade data, but it will send a signal to the world, particularly to the United States, that Europe is committed to working with Iran under the jcpoa."Mododi insisted that the United States was wrong to impose sanctions on Iran, whose 15 neighbors together account for $1 trillion in annual imports, with which Iran can maintain and develop trade despite U.S. sanctions.


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