As the U.S. piles sanction after sanction on Iran, it's the average person who feels it the most.
From a subway performer's battered leather hat devoid of tips, to a bride-to-be's empty purse, the lack of cash from the economic pressure facing Iran's 80 million people can be seen everywhere.
Many blame President Donald Trump and his maximalist policy on Iran, which has seen him pull out of Tehran's 2015 nuclear deal with world powers and levy punishing U.S. sanctions on the country.
In recent weeks, Iran has threatened to break out of the deal unless European powers mitigate what it calls Trump's "Economic warfare." Iran also appeared ready to push back against the buildup of U.S. forces in the region, after shooting down an American drone it says violated its airspace last week.
Oil covers a third of the $80 billion a year the government spends in Iran, meaning that a fall in oil revenues cuts into its social welfare programs, as well as its military expenditures.
The current problems take root in Iran's faltering efforts to privatize its state-planned economy after the devastating war with Iraq in the 1980s, which saw 1 million people killed.
"We did not have such an export problem when Saddam was targeting our industrial units. Now, we cannot export oil labeled Iran.".
https://www.apnews.com/9390faa746294f628b93beea57ba1e07
From a subway performer's battered leather hat devoid of tips, to a bride-to-be's empty purse, the lack of cash from the economic pressure facing Iran's 80 million people can be seen everywhere.
Many blame President Donald Trump and his maximalist policy on Iran, which has seen him pull out of Tehran's 2015 nuclear deal with world powers and levy punishing U.S. sanctions on the country.
In recent weeks, Iran has threatened to break out of the deal unless European powers mitigate what it calls Trump's "Economic warfare." Iran also appeared ready to push back against the buildup of U.S. forces in the region, after shooting down an American drone it says violated its airspace last week.
Oil covers a third of the $80 billion a year the government spends in Iran, meaning that a fall in oil revenues cuts into its social welfare programs, as well as its military expenditures.
The current problems take root in Iran's faltering efforts to privatize its state-planned economy after the devastating war with Iraq in the 1980s, which saw 1 million people killed.
"We did not have such an export problem when Saddam was targeting our industrial units. Now, we cannot export oil labeled Iran.".
https://www.apnews.com/9390faa746294f628b93beea57ba1e07
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