CBI Governor: Iran’s Economy Making Progress Despite US Sanctions

Governor of the Central Bank of Iran (CBI) Abdolnasser Hemmati in an Instagram post said despite the United States' growing sanctions against against Iran, his nation's economy is moving forward in areas of trade, including both oil and non-oil exports.

“Brian Hook: Iran’s oil exports reached 120,000 barrels per day,” Hemmati wrote on his Instagram page.

The CBI governor noted that the US has imposed new sanctions on imports and exports in construction sector, adding that the US together with 6 regional states has sanctioned 25 individuals or entities.

In relevant remarks earlier, Iranian Foreign Minister Mohammad Javad Zarif advised Americans to abandon failed policies, saying Iranians will never submit to bullying.

“Subjecting construction workers to #EconomicTerrorism only manifests maximum failure of 'maximum pressure',” Zarif tweeted on Friday.

"US can sanction every man, woman & child but Iranians will never submit to bullying," he added.

He noted, "Rather than dig itself deeper, US should abandon failed policies & return to #JCPOA."

Spokesperson for the United States Department of State Morgan Ortagus announced earlier that the US is increasing maximum pressure on the Iranian government by targeting Iran’s construction sector.

She claimed that Iran’s construction sector is controlled by the Islamic Revolution Guard Corps (IRGC).

Ortagus also threatened anyone who sells, supplies, or transfers covered materials to Iran’s construction sector to face mandatory sanctions.