Iran confirms reserves transfer

The head of the Central Bank of Iran has indicated that Tehran has already started shifting its foreign hard currency reserves amid the threat of sanctions, Iranian media reported on Friday 20 January.

Asked at a business conference if reports Iran was moving foreign accounts of hard currency from Europe to southeastern Asia were correct, Ebrahim Sheibani replied:

"We transfer foreign currency reserves related to all sectors including oil foreign exchanges to wherever it is good for us and we h