TEHRAN: Iran’s Central Bank Governor Abdolnaser Hemmati has played down Britain’s decision to tighten restrictions on five Iranian banks, arguing that US sanctions had already left the targeted institutions largely inactive in international financial markets.
Hemmati said the latest British measures would have limited practical impact because the affected banks had already faced extensive restrictions under Washington’s sanctions regime.
Using a Persian proverb roughly comparable to “offering spilled oil to the shrine,” the central bank governor suggested Britain was imposing measures against institutions that had little remaining international activity to restrict.
Hemmati Says Banks Were Already Largely Inactive
According to Hemmati, the five banks had effectively lost much of their ability to conduct overseas business because of existing US financial restrictions.
Therefore, he characterised Britain’s latest action as primarily symbolic rather than a measure likely to create substantial new financial pressure.
Furthermore, Hemmati claimed other countries had begun imposing similar restrictions mainly to demonstrate alignment with Washington.
He argued that some of the banks facing such measures had conducted no Iran-related transactions for years.
His remarks represented Tehran’s assessment of the restrictions, while the supplied information did not include the British government’s explanation for tightening the measures.
Tehran Had Considered Restrictions on Inactive Overseas Banks
Meanwhile, Hemmati said Iranian authorities themselves had been considering restrictions involving some overseas banks that had become inactive.
He said maintaining relationships with institutions that no longer provided meaningful banking services could create unnecessary costs.
Consequently, Tehran had examined whether continuing such arrangements remained financially worthwhile.
Hemmati’s comments sought to minimise the economic significance of Britain’s latest measures at a time when Iran’s banking sector continues to face extensive international restrictions.
However, the supplied report did not identify the five Iranian banks targeted by Britain or provide details about the specific restrictions imposed on them.
Iran’s Central Bank Governor Abdolnaser Hemmati dismisses the UK’s decision to tighten restrictions on five Iranian banks as largely symbolic.
– Using a Persian proverb, more or less “offering spilled oil to the shrine”, he argues that these banks were already effectively…
— Babak Vahdad (@BabakVahdad) September 24, 2026
