Iran's President:

Tehran (IP)- Iran's president believes that as long as Iran does not approve the FATF, problems with world banks and utilising their capitals will remain, and this process will create problems in projects that require investment.

Iran PressIran News: Speaking in the cabinet meeting on Wednesday, Hassan Rouhani said: "The government decided to approve the Financial Action Task Force (FATF) and its bill, but in the end, this did not happen. We will have problems with the world's banks in terms of relations unless the FATF-related issues are solved."

The president said that in more than 190 countries, banks operate within the framework of the FATF, all of which are members except Iran and North Korea. If we are not a member of the FATF, the risk of investing in the country will increase.

Rouhani further referred to the achievements gained due to the 2015 Iran Nuclear Deal, a.k.a. the Joint Comprehensive Plan of Action (JCPOA), adding: "Dozens of projects that we inaugurated in 2020 are all because of the nuclear agreement."

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He added: "Currently, there is no money to complete industrial projects. Money is gained when we can win an economic war and lift sanctions. We can also finalize the FATF."

Rouhani said: "Now we cannot sell oil, and we do not have a good relationship with a foreign bank. Therefore, we cannot use their credits. When there is no capital, big projects cannot be implemented."

The president said that 15,000-megawatt projects are financially suspended and need money to progress.

Rouhani noted: "In recent years, four and a half billion dollars were supposed to be prepared for investment in utility projects, but sanctions imposed by the former US administration and the country's withdrawal from the JCPOA became problematic."

"We can approve the FATF tomorrow to change our relationship with the banks," the president said.

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