Iran unveils budget to resist US sanctions

BusinessStock Analysis, IPO, Mutual Funds, Bonds & MoreThe US sanctions imposed last year in a bitter dispute centred on Iran’s nuclear programme include an embargo on the oil sector whose sales Washington aims to reduce to zero in a campaign of “maximum pressure”. AFP|Dec 08, 2019, 11.43 PM ISTAFPIran has suffered a sharp economic downturn,…

The Economic Times

Business

Stock Analysis, IPO, Mutual Funds, Bonds & More

    The US sanctions imposed last year in a bitter dispute centred on Iran’s nuclear programme include an embargo on the oil sector whose sales Washington aims to reduce to zero in a campaign of “maximum pressure”.

    AFP|

    Dec 08, 2019, 11.43 PM IST

    AFP

    oil-imports
    Iran has suffered a sharp economic downturn, with a plummeting currency sending inflation skyrocketing and driving up import prices.

    Tehran: Iran’s President Hassan Rouhani announced on Sunday a “budget of resistance” against US sanctions targeting the country’s vital oil sector, backed by a $5 billion Russian investment. Rouhani said the aim was to reduce “hardships” in the Islamic republic where a sharp fuel price hike last month triggered nationwide demonstrations that turned deadly.

    The US sanctions imposed last year in a bitter dispute centred on Iran’s nuclear programme include an embargo on the oil sector whose sales Washington aims to reduce to zero in a campaign of “maximum pressure”.

    Iran has suffered a sharp economic downturn, with a plummeting currency sending inflation skyrocketing and driving up import prices. Rouhani told parliament that the budget of 4,845 trillion rial, or $36 billion, was devised to help Iran’s people overcome difficulty.

    Also Read

    Iran unveils budget of ‘resistance’ against US sanctions

    Huawei giving employees bonus for coping with US sanctions

    Huawei founder says US sanctions not his toughest crisis

    Turmeric exports hit by US sanctions against Iran

    Commenting feature is disabled in your country/region.

    Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

    Read More

    Leave a Reply

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    Next Post

    Highways ministry urges RBI to exempt FASTags from KYC norm

    Mon Dec 9 , 2019
    HighlightsCurrently, vehicle owners need to give details of the vehicle, including its registration proof, and also relevant documents for individual identity and address to acquire FASTags. This process takes about 5-10 minutes. As per the current norm, once a FASTag is issued, the KYC has to be done within a year. NEW DELHI: The road…
    %d bloggers like this: