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Economy will withstand US sanctions, Iran Central Bank governor says

Al Mayadeen| September 1, 2026

Claims suggesting Iran is heading toward an economic collapse are unfounded, said the Governor of the Central Bank of Iran, Abdolnaser Hemmati, on Tuesday, stressing that the country’s economic system continues to operate robustly despite new sanctions imposed by its adversaries every week.

Hemmati said Iran’s collection of its foreign-currency receivables remains ongoing and that its resources continue to flow, alongside domestic reserves. He added that Iran has financial resources whose details cannot be disclosed, noting that the Central Bank is fully prepared to inject $2 billion in foreign currency into the market.

In a message addressed to US President Donald Trump, Hemmati said, “I say to Trump: Iran has enough foreign-currency reserves”.

Regarding developments in the foreign-exchange market, the Central Bank governor said conditions in the currency market would stabilize in the coming period, attributing the recent rise in exchange rates more to psychological warfare than to underlying economic factors.

US economic pressure fails

This comes after the United States announced “Operation Economic Outcast” earlier this week as part of its campaign to isolate Iran economically. The US Treasury has described the initiative as an effort to target Iran’s financial links and pressure foreign entities conducting business with Tehran.

The sanctions, like previous packages aimed at choking Iran economically, have evidently failed. Chinese refiners are still importing about 1.2 million barrels of Iranian oil a day this year, a figure barely below last year’s pace.

Real volumes could be higher, since ships carrying Iranian crude have gotten better at avoiding detection. Meanwhile, The Wall Street Journal (WSJ) revealed that Iranian commercial and financial activity continues across Dubai despite Washington’s push to sharply restrict Tehran’s access to regional markets and financial networks.

According to the newspaper, Iranian banks, airlines, restaurants, and businesses remain active in the United Arab Emirates.

At one Bank Melli branch in Dubai’s old city, around a dozen tellers were continuing to serve Farsi-speaking customers, according to the report. Employees said they had received no instructions ordering the branch to cease operations. “We put our trust in God on what happens next,” an Iranian bank employee said.

September 1, 2026 - Posted by | Economics, Wars for Israel | , ,

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