11/06/2018

Iranian oil embargo. Undermines its economy

Riyadh economic
6 November 2018 
Fahad Mohamed Bin Juma

Iran's nuclear and missile threats and interference in the Affairs of the region and later to bring economic woes, beginning with the U.S. withdrawal from the nuclear agreement in December and reimpose sanctions on its economy on August 7, and yesterday (November 5) was also re-ban Oil exports and financial dealings, which would have catastrophic repercussions on the performance of the economy almost slowly improving through the implementation of the nuclear agreement and raise urban oil exports. Since the signing of the nuclear agreement between Iran and countries (5 1) on 24 November 2013, the Iranian economy started getting better with higher oil revenues, which grew by (3.8%) In 2017/2018 and declining unemployment rate (12.1%) And the fiscal deficit (1.8%), despite the decline of the current account surplus (3.9%) In 2016/17 (3.5%) Gross domestic product in 2017/2018. But America's nuclear agreement termination led to a decrease in value of the Iranian rial (172%) In August 2018 m up the dollar to more than (100) a real, causing a high rate of inflation (24%) And the highest since 2013 (WB). It also caused the first urban retreat Iranian exports of oil and condensate b 800 barrels of peak (2.7) million barrels in 2018 (1.9) million barrels per day during the period from May to September, with South Korea and France suspended the import of Iranian oil and capacitors In July, imports the largest customers of India and China: Iran (644) thousand (576) thousand barrels (441) and (554) thousand barrels, respectively, the second lowest level since December 2015, these reductions are expected to continue (ClipperData). The International Energy Agency also predicted that Iranian oil exports (1-1.5) million barrels a day for the next few months of total exports (2.32) million barrels a day in July. Such a ban would be similar to the US firm attended 28 July 2012, but would be so cruel and devastating for the Iranian economy, which is suffering from unemployment, inflation and balance-of-payments deficit in volatile economic circumstances, which may result in a severe recession in its growth exceed (1.4%) With lower exports and consumption (demand) and shrinking industry (projector). This was left in front of the Iranian regime but kneel down and stop the production of weapons of mass destruction and the export of terrorism and interfering in the Affairs of the region, if he wanted to save its economy and undermine its security and stability and starving people.

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