Apr 24, 2024 (MENAFN via COMTEX) --
(MENAFN) According to reports from reliable foreign sources cited by Lebanon-based TV channel, Iran's gold reserves experienced unprecedented growth in the past year, particularly within the last three months. The surge in gold and precious metals reserves is seen as a strategic move by Iran to address a significant portion of its medium-term reliance on imports. This development underscores Iran's proactive approach in diversifying its financial assets to mitigate the impact of economic sanctions.
The TV channel highlighted Iran's strategic shift towards altering the composition of its central bank's foreign assets, indicating that countries facing sanctions often opt to convert their assets into gold or other precious metals as a means of shielding themselves from the repercussions of financial restrictions. This move suggests Iran's intent to fortify its financial resilience in the face of ongoing sanctions imposed by the United States and other nations.
The channel further emphasized that Iran's primary objective appears to be the establishment of a secure pathway for conducting foreign trade transactions despite the challenging economic landscape shaped by sanctions. By bolstering its gold reserves and diversifying its foreign assets, Iran aims to navigate the complexities of international trade and ensure the continuity of essential economic activities amidst external pressures. This strategic maneuver reflects Iran's determination to safeguard its economic stability and pursue avenues for sustainable growth despite the formidable obstacles posed by sanctions.
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COMTEX_451364359/2604/2024-04-24T18:32:12
