Deputy FM: Iran Does Not Wait for US to Boost Its Economy

Deputy FM: Iran Does Not Wait for US to Boost Its Economy
Mon Aug 31, 2015 15:52:12

Iran’s Deputy Foreign Minister for American and European Affairs Majid Takht Ravanchi said that the country’s economy will continue to grow even if the US Congress votes down the nuclear agreement reached between Tehran and world powers.

In an interview with Bloomberg, Takht Ravanchi said that Iran does not wait for the Congress decision and lifting of sanctions to improve its economy, adding that the Islamic Republic plans to wean itself off oil revenues and increase tax collection to that end.

“While sanctions relief is important to make the economy better, that is not the only instrument that the government has at its disposal,” Ravanchi said at his Tehran office on Wednesday.

“If there are difficulties with your domestic economy, then no matter how much you gain from sanctions relief, it won’t be enough to solve those problems in the long run.”

The Iranian deputy foreign minister went on to say that it is still too early to say whether the Islamic Republic’s foreign economic dealings will be more inclined towards European or Asian markets. “What I can tell you is that we won’t forget those who worked with us during the times of hardship. At the same time, we will consider new opportunities.”

Asked whether Iran is considering business dealings with the US in the future, Ravanchi replied, “For the time being, we’re not thinking about doing business with the United States per se. Over time, if everything goes well, we’ll consider what the opportunities are.”

Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) finalized the text of a lasting deal on Tehran’s nuclear program on July 14.

When Congress returns to Capitol Hill from its August recess after Labor Day, both the House and Senate are expected to vote on resolutions disapproving the July 14 accord.

While it is expected Congress will vote to disapprove the deal, President Obama can veto their disapproval, and Republicans are unlikely to have the votes to override that veto as so far 31 US Democratic Senators have come in favor of the deal.

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