Domestic economy boost can counter sanctions: Khamenei

World

Domestic economy boost can counter sanctions: Khamenei

Close

Currently, Iran is hit by tougher sanctions targeting its banking sector and oil exports.

20 March,2012 01:45 pm

Irans supreme leader says more support for domestic industrial production can counter Western sanctions over Tehrans nuclear program.The official IRNA news agency quotes Ayatollah Ali Khamenei as saying that Iran can withstand the economic pressures, which include blocking many Iranian banks from the network that handles most international banking transfers.Khamenei made the comments Tuesday in his message for the Iranian new year.Iran has faced decades of sanctions, but has built significant domestic industries such as auto production and military systems. The latest sanctions, however, are far tougher and target Irans banking sector and critical oil exports.