U.S. sanctions ‘will cripple the economy’ of Iran, say economists

(Worthy News) – The slated US sanctions targeting Iran’s energy and financial sectors in early November will pulverize the Islamic Republic’s struggling economy, according to a new analysis released last week by economists.

The organization Oxford Economics wrote that the second wave of US sanctions will hit Iran’s “oil industry and crude exports which form the backbone of the economy and the primary source of revenue and foreign currency for the government” and ” will cripple the economy.”

The UK-based global forecasting company wrote in its analysis: “We expect the sanctions to tip the economy back into recession, with GDP now seen contracting by 3.7% in 2019, the worst economic performance in six years.” [ Source: Jerusalem Post (Read More…) ]

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