عربي English Türkçe اردو فارسى
Logo
Latest News
Business

Iran's President Says Boosting Economy Requires FATF Issues to be Fixed

Iranian reformist candidate Masoud Pezeshkian raises his fist as he arrives for his campaign rally, two days before a presidential election runoff following a first round marked by a historically low turnout, at a stadium in Tehran on July 3, 2024. (AFP)
Iranian reformist candidate Masoud Pezeshkian raises his fist as he arrives for his campaign rally, two days before a presidential election runoff following a first round marked by a historically low turnout, at a stadium in Tehran on July 3, 2024. (AFP)
TT
TT

Iran's President Says Boosting Economy Requires FATF Issues to be Fixed

Iranian reformist candidate Masoud Pezeshkian raises his fist as he arrives for his campaign rally, two days before a presidential election runoff following a first round marked by a historically low turnout, at a stadium in Tehran on July 3, 2024. (AFP)
Iranian reformist candidate Masoud Pezeshkian raises his fist as he arrives for his campaign rally, two days before a presidential election runoff following a first round marked by a historically low turnout, at a stadium in Tehran on July 3, 2024. (AFP)

Iran President Masoud Pezeshkian said on Monday in a televised news conference that to boost its troubled economy, Iran had no choice but to "fix issues" related to the Paris-based Financial Action Task Force (FATF).

Iran has been on the global dirty money watchdog's blacklist since 2020 after failing to comply with international anti-terrorism financing norms, a move that deepens its isolation from financial markets, Reuters reported.

Pezeshkian said he would communicate with relevant Iranian centres to re-examine Tehran's past opposition to implementing the FATF's requirements.

Foreign businesses say Iran's compliance with FATF rules is key if it wants to attract investors, especially since the United States re-imposed economic sanctions on Iran in 2018.

Most Viewed

 
 
Business

Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
TT
TT

Saudi Arabia, Italy Sign MoU to Strengthen Collaboration in Renewable Energy

The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA
The MoU focuses on key areas such as energy transitions and security, renewable energy and electricity interconnection. SPA

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz has met in Riyadh with Italian Minister of Environment and Energy Security Gilberto Pichetto Fratin to explore avenues for cooperation across various energy sectors.

The two sides signed on Tuesday a memorandum of understanding (MoU) to strengthen collaboration between Saudi Arabia and Italy, serving their shared interests.

The MoU focuses on key areas such as energy transitions and security, renewable energy, electricity interconnection, energy efficiency, geothermal energy, methane emissions reduction, advancing energy storage solutions, petroleum, natural gas, and conventional and transitional fuels.

It also addresses enhancing the stability and reliability of petroleum and natural-gas markets, reducing market volatility, and improving energy supply security and supply chains.
The agreement highlights innovation and technology, such as hydrogen project development, climate-change mitigation solutions, the circular carbon economy, and carbon capture, utilization, and storage. Additionally, it emphasizes digital transformation, cybersecurity, and artificial intelligence in the energy sector while fostering joint initiatives to support engineering and construction projects in energy. These efforts align with the Paris Agreement and the 2030 Agenda for Sustainable Development.