Swiss Payment Mechanism Inadequate

The governor of the Central Bank of Iran said Switzerland`s payment mechanism unveiled this week for delivering humanitarian supplies to Iran is not enough. as it does not cover bank transactions.

`The humanitarian cargo was traded as per the Swiss government`s request. Nearly $2.5 million of CBI money in a Swiss bank was used for buying the medications.` Abdolnasser Hemmati was quoted as saying by Tasnim. 

`The US government`s claims could be termed as valid if they permit banking transactions for humanitarian goods.` Hemmati said.

A humanitarian channel to bring food and medicine to Iran has started trial operations. Reuters quoted the Swiss and US governments as saying on Thursday. helping supply Swiss goods to Iranians without tripping over US sanctions.

As a pilot transaction. an initial payment for the shipment of medicine to Iran by a Swiss pharmaceutical company was authorized on January 27. The shipment consists of cancer drugs and drugs required for organ transplant. The medicines are valued at approximately €2.3 million. 

The Geneva-based bank BCP and Novartis took part in the pilot deal. with the humanitarian channel expected to be fully operational within weeks. a spokeswoman for the Swiss State Secretariat for Economic Affairs said 

Food. medicine and other humanitarian supplies are exempt from the new sanctions Washington imposed last year after Donald Trump walked away from a 2015 landmark international deal over Iran’s nuclear program.



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