Iran’s central bank governor Mohammadreza Farzin sought to reassure business leaders on Tuesday that the country’s foreign exchange and gold reserves remain secure as UN snapback sanctions loom later this month.
Speaking at a meeting with the National Entrepreneurs Assembly, Farzin said the Central Bank of Iran (CBI) has “full security and access” to reserves held abroad and is preparing special measures to support exporters, ease access to hard currency and expand financing channels.
He announced plans for up to €200 million in sukuk Islamic bonds, new credit for export-oriented firms and a joint committee with entrepreneurs to resolve banking hurdles.
Farzin stressed that the CBI’s priority is to curb inflation and maintain financial stability, pledging that “all monetary and foreign exchange decisions will be taken with these objectives in mind.”
He also said the bank has introduced new instruments such as chain financing, gold-backed bonds and pre-sale of foreign currency to increase resilience in the market.
The remarks come as Iran braces for the automatic return of UN sanctions on September 28 after Britain, France and Germany triggered the mechanism last month.
The snapback would reinstate international restrictions suspended under the 2015 nuclear deal, compounding existing US and EU sanctions that have already slashed oil revenues and battered the rial.
Iran’s currency has tumbled past 1,038,000 rials per dollar on the open market, while inflation hovers near 50%.
Analysts warn that renewed sanctions could push inflation above 60–90% and deepen negative growth.
Despite official assurances, businesses say access to foreign exchange remains a critical obstacle, with many entrepreneurs urging structural reforms and clear rules for investors.
The central bank’s confidence message contrasts with mounting signs of distress, including protests over living costs, reports of suicides linked to financial hardship and warnings from experts that Iran’s energy and fiscal systems are at breaking point.
