Iran official says US sanctions will ‘undoubtedly’ affect economy

Iran’s first Vice President Eshaq Jahangiri said that the right step to overcome the US sanctions is by accelerating the sale of oil. (File photo: AFP)

Iran’s Vice President Eshaq Jahangiri said that the United States pledges to halt any sale of Iranian oil will undoubtedly have an effect, acknowledging the impact of economic sanctions which will begin gradually next month.

But Jahangiri said that the right step to overcome this threat is by accelerating the sale of oil and intensively.

The Iranian vice president pointed out that the Ministry of Foreign Affairs and the Central Bank will take measures to facilitate banking operations despite sanctions.

This acknowledgment coincides with the Iranian parliament vice president Ali Motahari threat to close the Strait of Hormuz.

Motahari said his government will close the Strait of Hormuz and will not allow the Gulf States to export their oil if Washington imposes sanctions on Iranian oil importers.

The latest Iranian statement comes in the hills of similar threats issued last week by Iranian president Hassan Rouhani.

Also, the Iranian commander of the Islamic Republic Revolutionary Guard Corps (IRGC) Major General Mohamad al-Jafari announced that the Strait of Hormuz either is for everyone or it is not for anyone. FULL STORY

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Last Update: Wednesday, 20 May 2020 KSA 14:03 - GMT 11:03
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