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IMF warns Iran over economic impact of oil export sanctions

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WASHINGTON: The International Monetary Fund on Thursday warned Iran that it faced reduced economic growth as US sanctions targeting Tehran's energy sector take effect within days.

Donald Trump has told oil importers that they will be targeted if they continue to buy Iranian oil from the start next week. The sanctions are the second wave against Tehran since Donald Trump withdrew the United States from the deal with international powers to curb Iran's nuclear program.

"The reimposition of US sanctions will reduce economic growth by restricting Iran's oil exports and Iran should implement policies to safeguard macrostability," IMF spokesman Gerry Rice said.

He also said the IMF urging Iran to strengthen its anti-money laundering and anti-terrorism financing frameworks to comply with international standards by a deadline in February 2019.

Last month, the global financial watchdog, the Financial Action Task Force, warned Iran to clamp down on terrorism financing or face a deeper squeeze on its sanctions-hit economy.
 

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