Meeting Between the Governor of the Central Bank of Iran and the U.S. Treasury Secretary

Jack Lew, the U.S. Treasury Secretary, stated during a meeting with Valiollah Seif, the Governor of the Central Bank of Iran, that Washington will act in good faith regarding its commitments as long as the 'JCPOA' is being implemented. Earlier, the Deputy Director of Public Affairs at the U.S. Treasury announced that Jack Lew was scheduled to meet with Valiollah Seif on Thursday, April 26. According to the U.S. Treasury, Mr. Lew mentioned in this meeting that 'as long as Iran adheres to its nuclear agreements related to the Joint Comprehensive Plan of Action, the U.S. will also act in good faith regarding its commitments to lift nuclear sanctions.' The meeting between Mr. Lew and Mr. Seif took place on the sidelines of the World Bank meeting in Washington, D.C. The discussions were held behind closed doors, and no further details were shared with reporters. The annual meetings of the World Bank and the International Monetary Fund are taking place from April 14 to 16. In addition to the U.S. Treasury Secretary and the Governor of the Central Bank of Iran, finance ministers and senior economic officials from other countries, including representatives from 20 powerful economies, are participating in the event. Iran and six world powers reached a nuclear agreement last July and implemented it a few months later. Concerns remain regarding currency transactions with Iran using the U.S. dollar. In addition to the unilateral nuclear sanctions imposed by the U.S., which have now been lifted, Washington still has sanctions against issues such as human rights violations, 'support for terrorism,' or Iran's ballistic missile program, which are still in effect. Iran has denied the accusation of 'supporting terrorism' and claims that its missile program is defensive. Tehran has requested that the U.S. provide necessary commitments to other countries and parties regarding transactions with Iran. U.S. officials state that Tehran has the right to benefit from the advantages gained from the nuclear agreement. John Kerry, the U.S. Secretary of State, stated on April 5 that Iran is fully entitled to benefit from the advantages of this agreement as it has fulfilled its nuclear commitments. According to Mr. Kerry, the Obama administration is working to assure banks that they can cooperate with Iran in permissible areas. Meanwhile, a group of Republicans, who hold the majority in Congress, including the Speaker of the House, oppose Iran's access to U.S. dollars. However, on Wednesday, Adam Szubin, the Deputy Treasury Secretary, stated, 'We must fulfill our commitments and assure the people of Iran that they can benefit from the economic advantages of the nuclear agreement.' Mr. Szubin added, 'Otherwise, sanctions against other countries in the future will be ineffective.' This is the first time since Jack Lew took office as U.S. Treasury Secretary in 2013 that he has met with the Governor of the Central Bank of Iran.