Oil Price Drop and Failure to Finalize Nuclear Deal Hits Iran’s Economy Hard
×
[contact-form-7 404 "Not Found"]
by News Editor
US Secretary of State John Kerry shakes hands with Iranian Foreign Minister Javad Zarif in Geneva, November 2013. Photo: Wikicommons
Wall Street Journal – Plummeting oil prices and the failure so far to conclude a nuclear agreement are dealing a double blow to Iran’s economy just as it was starting to recover.
Oil prices, which have fallen about 50% since June, resumed their decline on Monday after Saudi Arabia, the world’s largest crude exporter, said it may boost production despite a global glut. The slide in prices is strangling revenues in Iran, a country dependent on oil money.
Share this Story:
Let your voice be heard!
Join the Algemeiner
Trending
-
Israel’s Iran Attack Carefully Calibrated After Internal Splits, US Pressure
-
This Passover, Combine Respect for Tradition with the Courage to Innovate
-
How Does Ilhan Omar Really Feel About Iran?
-
Cultural Center Backed by Iran’s Revolutionary Guard Plans to Produce Films About Attack on Israel
-
Ilhan Omar Silent After Daughter’s Arrest, Suspension for Role in Columbia University Anti-Israel Protest