Iran’s economy not sanctionable

The head of Iran’s Chamber of Commerce says Western-backed sanctions against Iran over its nuclear program will not have the desired impact.

“It has been proven that the Iranian economy cannot be sanctioned… the stated goal of sanctions is political, which has never been achieved,” Mohammad Nahavandian told Reuters in an interview on Saturday.

“Yes, there have been some economic costs involved. Yes, transaction costs go up… but the trade will not stop and has not been stopped,” he added.

“Sanctions increase the economic costs not only on those embargoed but also on those who sanction,” said Nahavandian, adding that sanctions would harm Iranian citizens more than the country’s political decision-makers.

Nahavandian said Iran has increased its trade with Asian and regional countries to confront the sanctions.

“The trade between Iran and China is now over $28 billion,” he said.

“With indirect trade, it may be about $31 billion, which is above the trade with the European Union,” Nahavandian stated.

Tehran has repeatedly declared that it will not give up the legitimate nuclear rights of the Iranian nation under Western pressure.