Washington (CNN) -- During a rare news conference in the United States, Iran's finance and economic minister held up a copy of U.S. News & World Report from 1980.
On the cover was a picture of then-President Jimmy Carter and Iran's then-Supreme Leader Ayatollah Khomeini with the caption, "Where Will It All Lead?" The issue featured an article about the United States' tightening of economic sanctions against the regime in Tehran while keeping the military option on the table.
"Iran has faced sanctions for 30 years," said Shamseddin Hosseini, who is in Washington for International Monetary Fund meetings this weekend. "And yet Iran's economy is stronger".
The message: Iran hasn't exactly welcomed the sanctions plaguing the country for three decades. But it has adapted and can continue to do so.
"It goes without saying that Iran has faced some trouble from sanctions," Hosseini told reporters. "But the positive effects are it made Iranians invest in the country. ... We can pass the obstacles produced and made by sanctions".
Hosseini argued that while Iran faced some economic hardships after the world financial crisis of 2008 and 2009, it has bounced back better than ever, thanks to rising oil prices over the past few years.
While Iran once raised money on the international market and relied on foreign investment, Hosseini said Iran now "relies more on domestic, internal resources".
For example, he said, Iran transferred its reserves from foreign banks and made that capital available to domestic firms. He said doing so has increased internal demands for projects, construction and labor.
CNN
