Brazil allocates USD 1.2BN for continued trade with Iran

Brazil allocates USD 1.2BN for continued trade with Iran
ID : N-2795 Date : 2018/09/03 - 10:26

(Persia Digest) – The Brazilian Ambassador to Tehran has announced plans by the Brazilian Development Bank to allocate a credit line worth USD 1.2BN to his businessmen to expand trade and investment ties with Iran.

Rodrigo de Azeredo Santos talked about his government’s interest in continuing economic and trade ties with Iran after the start of sanctions in November, saying: “We have found solutions in our discussions with the Iranian side which will be implemented.”

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He said the goal of the Brazilian government in this cooperation was job creation and technology transfer to Iran with the aim of establishing long-term relations, adding: “The Central Bank of Brazil sees no barriers for the presence of Iranian banks in our country and believes that this will help sustain financial ties between the two countries.”

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