U.S. Sanctions Cost Iran’s Economy $150 Billion, Rouhani Says

Meghann Showers

(Bloomberg) — Iran lost $150 billion of revenue since U.S. President Donald Trump withdrew from a 2015 nuclear deal and reimposed sanctions on its economy, President Hassan Rouhani said. The U.S. measures are also hampering imports of medical and food supplies, Rouhani said in a statement Saturday on state television. […]

(Bloomberg) — Iran lost $150 billion of revenue since U.S. President Donald Trump withdrew from a 2015 nuclear deal and reimposed sanctions on its economy, President Hassan Rouhani said.

The U.S. measures are also hampering imports of medical and food supplies, Rouhani said in a statement Saturday on state television.



a group of people walking down the street: A pedestrian wears a protective face mask and surgical gloves while carrying fresh bread from a bakery in Tehran, Iran, on Sunday, March 15, 2020. Iran’s President Hassan Rouhani announced a series of banking, welfare and tax relief measures to support business and families as the coronavirus outbreak puts severe strain on the economy.


© Bloomberg
A pedestrian wears a protective face mask and surgical gloves while carrying fresh bread from a bakery in Tehran, Iran, on Sunday, March 15, 2020. Iran’s President Hassan Rouhani announced a series of banking, welfare and tax relief measures to support business and families as the coronavirus outbreak puts severe strain on the economy.

Iran’s economy has shrunk over the past two years, inflation and unemployment are rising. Crude exports that the nation depends on for most of its foreign exchange are less than 10% of their level before the U.S. withdrew from the multilateral agreement in May 2018.

“If people want to curse anyone for problems and shortcomings in the country, it’s the White House,” Rouhani said.

Relations between the U.S. and Iran have been at their worst since the 1979 Islamic Revolution, and over the past two years defined by a security crisis triggered by Trump’s withdrawal from the nuclear accord and culminating in the assassination of top Iranian General Qassem Soleimani in January.

Related slideshow: News in pictures (Provided by Photo Services)

Source Article

Next Post

Ohio’s 529 Plan Reaches a New Milestone in 2020

COLUMBUS, Ohio–(BUSINESS WIRE)–Even with the ups and downs of this year, the number of families saving through Ohio’s 529 Plan is on the rise. The college savings program reached $13.1 billion in Assets Under Management (AUM) on June 30, 2020. These families’ smart savings strategies are reflected in Ohio’s 529 […]