تحریم

The United States denounced Friday a network of 39 subsidiaries and registered companies outside Iran, but market analysts believe this has no effect on the foreign exchange market.

According to IBENA, the United States has sanctioned a network of 39 subsidiaries and registered sales companies outside Iran over the past day, with the aim of limiting the funds of Iranian petrochemical companies.

Since the export of petrochemicals along with oil exports is one of the most important sources of foreign exchange earnings in Iran, it is possible that this will affect the foreign exchange market.

“For the analysis of the impact of the sanctions on the foreign exchange market, all companies that cooperate with Iran continue to cooperate in the face of sanctions, and this concern has always existed” ,Kamran Soltanizadeh, an expert on the foreign exchange market said in an interview with IBENA.

He added: with the action of the United States on Friday, there is only a reaffirmation of the sanctions, and it can be said that no new incident has taken place.
"On the other hand, Iranian companies and foreign parties have always found a solution to the sanctions, which, in my opinion, is not a worrying situation, and with sanctions against the Iranian petrochemical sector, we will not see any excitement and a significant price increase in the exchange market," Soltanizadeh said.
The member of the Iran Association of Exchange Bureaus said: "To examine this, we can look at the status of previous sanctions and its impact on the market because in the past that the sanctions were more extensive the market did not suffer from significant shocks and turmoil.

Soltanizadeh, emphasizing that the situation is not alarming, said: "For me, this is a more psychological game to disturb Iran's economic and political conditions and focus because of the Japanese Prime Minister's visit to Iran this week. And we should not be worrying about the current stability of the market."
According to him, since it is not the first time that the United States bans Iran's petrochemical sector, experience has shown that sanctions have always failed and have only a modest impact on the Iranian economy.
Negotiating and improving the situation

Also, Sayed Bahaddin Hosseini Hashemi, an economics expert, in an interview with IBENA said that the sanctions imposed on Iran's petrochemical sector by the US do not affect the market.

He added that sanctions, especially when targeting Iran's foreign exchange reserves, would reduce the supply of currency in the market, which would not be ineffective.
Hosseini Hashemi added: "Given the fact that we are facing both a drop in foreign exchange supply in the country and the problems of money transfers, sanctions against the sector that supplies around 50 percent of the country's foreign exchange resources will certainly affect the market, but this effect is controllable."
The monetary expert stressed that, of course, the conditions in the country are going towards negotiation, and the sanctions would have short-term and periodic effects.

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