Speaking to ILNA, Nezam-Mafi said that the SHTA should provide more options for Iranian purchasers and companies, and this limitation should be lifted in order that the channel could become more active and turn into an operational lever for required purchases of Iran.

Touching upon the latest development on the transfer of Iran’s blocked assets via the SHTA, he said that so far there is no news of the released assets in the SHTA because nobody announced the transfer of the money to this channel and even Swiss media have not pointed to it but is maybe possible that Switzerland does not announce the news.

On Switzerland’s inability for providing Iran with medicine more than 300m euros, he said Iran evaluates its needs for medicine based on the current time and if Iran’s financial capabilities grow, the purchase of medicine will increase. He added that if the money in the account is more than Iran’s need for the purchase of the medicine, then it can use the extra money for purchasing grain.

Nezam-Mafi reiterated that Iran’s need for basic and humanitarian goods is above the current companies which are just working in Switzerland and the SHTA should provide more options for purchase for the Iranian companies and purchasers.

He reiterated that the joint chamber believes that the purchaser should have the right to choose, adding that in his opinion, the restrictions should be lifted in order that the channel could be more active and turn into an operational lever for the required items for purchase by Iran.

On the effect of FATF, he stipulated that FATF has nothing to do with SHTA because SHTA is not a normal banking channel, adding that since the purchaser, good and the money are all evaluated in this channel, it is above that laws and regulations of the FATF and therefore it has nothing to do with FATF.

Nezam-Mafi reiterated that the SHTA has been set up for a certain condition, adding that as long as the sanctions and banking problems remain in place, the SHTA can be a good solution for providing required goods.

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IRAN NEWS ECONOMIC DESK

TEHRAN – President of Iran-Swiss Chamber of Commerce Mr. Sharif Nezam Mafi says Iran will face problem for purchasing of coronavirus (COVID-19) vaccine out of the Swiss humanitarian trade agreement (SHTA), adding that the SHTA has been launched for this purpose and it will need no joining the FATF.

Speaking to ILNA, Nezam Mafi said that the chamber predicted that the SHTA would be one of the few channels for providing COVID-19 vaccine and the process is underway, adding the strange thing is the U.S. Administration issued license for Iran to use its frozen assets to purchase vaccine. He said nobody expected this to happen during the Trump Administration but the world community pressures forced the U.S. to make such a decision.

He further said that since the SHTA can function out of the FATF system, this license was issued, adding that two Iranian banks observe the FATF regulations and for this reason there is no problem for such trades through these banks.

He expressed hope that after purchase of COVID-19 vaccine, the country would be able to do more purchases and by revising the decision on joining the FATF, Iranian banks could be delisted by the FATF.

Nezam Mafi went on to say that the country should work to remove some 18 Iranian banks from the FATF black list because even the U.S. under Joe Biden returns to the JCPOA, the FATF woe will still remain and this is the woe that we ourselves have created it.

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“It’s time to act,” CBI Chief Abdolnaser Hemmati told IMF Managing Director Kristalina Georgieva in an article published on Sunday, reminding the IMF that Iran, the US, and Europe have all lost many people due to the outbreak of the coronavirus.

Deploring the US’ interference in the administration of the IMF, Hemmati proposed that the IMF can pay Iran the loan directly via the INSTEX –a financial mechanism that the three European parties to the 2015 nuclear deal have established for trade with Iran- or via the Swiss Humanitarian Trade Arrangement (SHTA), so that the loan could be used for purchases from pharmaceutical and food companies.

“These channels have been specially established to help buy foodstuff and medicine. These channels have appropriate security mechanisms that would allay all concerns,” Hemmati added.

Last week, the top Iranian banker had emphasized that the IMF loan is totally unconditional and must be given immediately.

The only guarantee that needs to be given relates to the period of repayment, Hemmati said, stressing that the loan is Iran’s natural right, as the country has kept reserve assets in the IMF and has not received any loan over the past 60 years.

Earlier this month, President Hassan Rouhani said it would be unacceptable for the International Monetary Fund to unfairly refuse Iran’s application for the loan that it needs for the fight against the coronavirus.

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