Joining FATF key ...
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Thus, considering FATF membership is vital and its rejection in Iran could have consequences.
Iran’s restrictions hinder revenue repatriation from exports, even from friendly neighbors. Investors face challenges due to money transfer limitations and Iranian students abroad struggle with fund exchanges and managing their finances. These issues stem from misconceptions and a misguided perspective among some in Iran about FATF, leading to self-imposed sanctions.
Iran’s support for the Resistance Front and the oppressed against injustice is unwavering. However, joining FATF does not contradict this stance, as Iran’s backing is mostly advisory in nature.
Secondary sanctions, designed to pressure countries, companies, or individuals that engage economically with sanctioned nations, aim to restrict their global market access and disrupt their international cooperation. These sanctions have deterred many companies from investing in Iran.
Nevertheless, some firms from China, Russia and Persian Gulf Arab countries as well as Iranian expatriates are ready to brave US sanctions to invest in Iran, lured by potential returns. But they are deterred due to Iran’s non-membership in FATF which disables them from conducting banking transactions.
They require a conducive environment for their investments, including seamless financial transactions. Thus, Iran’s decision-making must carefully weigh national interests and well-being when it comes to FATF membership.