Iran’s Oil Dollars Are Drying Up—and Plunging It Deeper Into Crisis
6 Articles
6 Articles
The Wall Street Journal reports that the US naval blockade has cut off Iranian oil supplies, putting additional pressure on the Islamic State's battered economy. Black gold is Iran's main source of foreign exchange, and a third of the state budget comes from oil revenues.
The American naval blockade and the decline in stocks destined to China compress the oil collections of Tehran. The pressure on the economy increases, but a collapse in the negotiations remains uncertain. Iran is in recession: the US block cuts the revenues of the oil
Iran has oil, but is finding it increasingly difficult to turn it into money. The US naval blockade restricts access to buyers, and cargoes that had time to go to sea are dwindling. Behind the showdown in the Persian Gulf is a test of economic resilience: how much a state can function when the [...] by sofokleous10.. gr
Oil reserves on board Iranian oil tankers that left the Gulf of Hormuz before the blockade was reimposed have shrunk by about two-thirds and could be depleted within weeks • Foreign currency revenues are dwindling, inflation in Tehran has exceeded 80% and the rial continues to fall The post US blockade strangles oil exports: Iran sinks into a severe economic crisis appeared first on JDN.
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