Iranian assets held in foreign bank accounts remain inaccessible to Tehran despite a June deal with the United States, central bank governor Abdolnaser Hemmati said.
Hemmati confirmed that no funds have been released under the terms of the agreement following the expiration of a bilateral Memorandum of Understanding on Monday.
Speaking to state broadcaster IRIB, the central bank chief stated that none of the Iranian reserves held in foreign financial institutions have been made available to the government so far.
The memorandum concluded in June formed part of efforts to reduce diplomatic tensions between Washington and Tehran following months of confrontation and conflicts. Under the terms of the deal, the United States had agreed to a temporary relaxation of specific economic and financial restrictions on Iran.
Impact on Foreign Reserves
The continued freezing of these assets deprives Tehran of an essential source of liquidity at a time when the government's public finances face heavy strain.
Hemmati described a difficult economic environment for Iran, noting that inflows into government coffers have declined from both the oil sector and other key revenue sources.
The Central Bank of Iran oversees the nation's monetary policy and foreign currency reserves from its headquarters in Tehran, while the state broadcaster IRIB serves as the country's primary public media organisation. Washington represents the seat of the United States federal government, which maintains extensive international banking sanctions against Iranian financial institutions.
Strained National Economy
Hemmati explained that the reduction in funds generated by oil exports, combined with lower tax collection and decreased social security contributions, has created a major strain across the national economy.
Crude oil exports historically generate the bulk of Iran's foreign exchange earnings, which supply the treasury alongside domestic tax revenue and social security payments that fund public services, pensions, and state administration.
Hemmati added that while public demands and expectations for economic improvement are completely respected and justified, the simultaneous drop in oil revenue, tax receipts, and social security payments has affected every sector and pillar of the country's economy.
