Iran skeptical about US waiver for Swiss financial channel

The governor of the Central Bank of Iran (CBI) has expressed doubts about the practicality of a decision by the US government to allow Switzerland to use Iranian finances to ship food and medicine into the country.

Abdolnasser Hemmati said on Monday that it remains to be seen whether the United States would really allow the Swiss Humanitarian Trade Arrangement (SHTA) to function properly.

Hemmati said on his social media account that he was aware of a Thursday decision by the US department of treasury to issue a special license to finalize the SHTA.

However, he was skeptical about the genuineness of the move and whether Washington is really willing to allow humanitarian trade involving CBI funds.

“Apparently, the US government has issued the necessary waivers for the use of a part of Iran’s foreign currency reserves for supply of basic goods and medicine,” read part of Hemmati’s post on Instagram.

“One should see the job in action,” he said, adding, “The US government has up to now blocked the CBI reserves illegally and through pressuring countries.”

Iran has appreciated Switzerland’s efforts to secure a special channel for sanction-free trade with Tehran.

However, authorities say the mere fact that the channel should gain US approval to operate is a sign that Washington’s sanctions have targeted the most urgent needs of the Iranian people despite repeated statements to the contrary by US government officials.

 The United States imposed its unilateral sanctions on Iran in November 2018 months after it decided to pull out of a landmark international agreement on Iran’s nuclear program.