Iran’s central bank said it will release $2 billion in foreign currency for the industrial sector from Saturday, after gaining improved access to frozen overseas assets and benefiting from an easing of restrictions on oil exports under a temporary U.S.-Iran arrangement.
The move comes as Tehran tries to stabilize its economy, where foreign-exchange shortages have fed inflation and made it harder to pay for imports of essential goods.
Central Bank Governor Abdolnasser Hemmati said the bank would channel part of its stronger reserves into the economy, with the initial allocation aimed at supporting industrial imports and helping contain price pressures. The broader deal is tied to a 60-day U.S. sanctions waiver that allows Iranian crude and petroleum exports to resume more freely, while also improving access to some of Iran’s frozen funds abroad.
