Iran Central Bank’s Foreign Exchange Deputy Arrested

Iran’s judiciary spokesperson announced on Sunday, August 5, the arrest of Ahmad Araghchi, the deputy for foreign exchange at Iran’s Central Bank.

According to a report published by the judiciary’s news agency, Mizan, Gholamhossein Mohseni Eje’i stated that “in continuation of investigating the file of those who disrupted the country’s monetary and banking system, the file of three individuals whose cases were completed was sent to court with an indictment, and the court will begin their trial soon.”

He continued: “Also today, several other individuals were pursued and arrested. One of them is the deputy for foreign exchange at the Central Bank, whom I heard had recently been removed from office.”

Ahmad Araghchi is the nephew of Abbas Araghchi, Iran’s deputy foreign minister, and has been the target of considerable criticism in recent months due to his performance at the Central Bank and the fall in the value of Iran’s national currency.

Iran’s judiciary spokesperson also announced the arrest of “an employee of one of the vice president’s deputies and four currency brokers who conducted unauthorized activities in this regard.”

He added: “An unauthorized money changer was also summoned and, after investigations and notification of charges, was sent to prison under temporary arrest order.”

IRNA news agency, in conversation with a person it identified as “an informed source,” denied the arrest of one of the presidential institution’s staff members and stated that “the person in question was previously a contractual employee of the presidential institution and has settled his accounts completely.”

He added: “This person had no responsibility in any of the deputy positions or subsidiaries of the presidential office and institution during the twelfth government.”

Mohseni Eje’i had also announced on the 27th of July that so far 29 individuals, whom he described as “disruptors of the country’s economic system,” have been arrested, with the charges against “many of them” being at the level of “corruption on earth.”

The charge of “corruption on earth” can in some cases result in a death sentence.

Iran’s foreign exchange and gold market has been severely turbulent in recent months, with the price of each US dollar exceeding the 12,000 toman mark. Nevertheless, on the eve of the announcement of new foreign exchange policies scheduled to be announced tonight, the dollar’s price has fallen below 10,000 tomans.

Developments in Iran’s markets have coincided with the United States reimposing sanctions against Iran following its withdrawal from the nuclear deal, which will resume from Monday, August 6.

Sanctions on the exchange and buying and selling of rials, as well as purchasing or facilities related to government borrowing, will be implemented from tomorrow. Another sanction that Iran’s market will face is the automotive sector sanctions.

Some of the licenses that the US government had issued after the nuclear deal will also become ineffective from August 6, including the license for importing Iranian goods such as carpets and food items, as well as purchasing passenger aircraft and spare parts, with the latter being considered one of the important achievements of the nuclear deal for Tehran.

The United States withdrew from the nuclear deal on April 8 this year and announced that it would impose severe sanctions against Iran.

However, last week he explicitly expressed readiness to meet with Iranian officials and negotiate a new agreement with Tehran, but the Islamic Republic’s officials responded negatively.

Source: Radio Farda