Report: Iran's Government Freezes Import Of 'Luxury Goods'

November 08, 2012

Iranian state-run media say that Tehran is freezing the import of more than 2,000 products considered "luxury goods" to tackle a shortage of foreign currency due to Western sanctions.

The government-run "Iran" daily quoted Deputy Trade Minister Hamid Safdel as saying the ban could save Iran $4 billion a year.

"Iran" listed 75 products, from watches, home appliances, and mobile phones to coffee and toilet paper, that it said could no longer be purchased from abroad.

But it says the ban does not apply to components used to make some of the products.

Safdel said import permissions were no longer issued as of November 7.

The reported ban comes as Iran faces oil and banking sanctions imposed by the West over its disputed nuclear program.

Based on reporting by AFP and AP

Source: http://www.rferl.org/content/iran-freezes-import-of-luxury-goods/24765255.html

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