SHANA- Governor of the Central Bank of Iran Valiolah Seif says Iran has successfully passed behind the oil price shock and inflation is gradually diminishing in the country.

Addressing a meeting with the parliament's economic committee on Monday, Seif said, "By taking timely policies at a time all other oil producing countries were influenced by the oil price shock, our economy, under intense sanctions, could not only pass that era behind, but also tackle the inflation rate and curb it in a satisfactory manner."

He said many oil suppliers incurred huge losses and had to forgo their oil revenues by the price shock, but assessments indicate that Iran, given its exquisite situation, underwent the least damage on its economy in the post-Joint Comprehensive Plan of Action (JCPOA) setting.