Financial Tribune - South Africa�s MTN, which has been prevented by US sanctions from repatriating profits from its Irancell partnership, is reinvesting its profits in Iran, the MTN-Irancell CEO said.

Bijan Abbasi Arand was speaking on Monday during an event held in Tehran on the occasion of the 13th anniversary of the firm�s launch of mobile services in Iran.

�Our South African partner MTN is here to stay, despite US sanctions against Tehran,� he said.

Noting that MTN is among major shareholders of Irancell, Abbasi said, �The South African firm has been barred from transferring profits from its Iran operations due to the US sanctions.�