An Iranian Chamber of Commerce member said that several tens of billions of dollars of Iran’s money are blocked in countries like Russia, China, and India.
An Iranian Chamber of Commerce member told IRNA on Friday, February 4th, that several tens of billions of dollars of Iran’s money are blocked in countries like Russia, China, and India.
Abdullah Muhajer emphasized that the re-approval of FATF bills can address more than 50% of the challenges in the private sector and opposition to its approval lacks expert support.
The main entity to combat money laundering, financing terrorism, and the production and distribution of weapons of mass destruction is the Financial Action Task Force (FATF).
Iran, along with North Korea and Myanmar, is on the FATF blacklist.
Opponents say that joining FATF is a betrayal to Iran and call it the second Turkmenchay, but supporters argue that without joining it, the country’s economy system will practically be locked.
Iran’s President, Masoud Pezeshkian, says there is no solution other than solving the problem.
