Economy
Sanctions have constricted Iran’s economy and played a role in bringing Iran to the negotiating table over its nuclear program, according to Kenneth Katzman in an updated Congressional Research Service report. International sanctions have caused a decline in Iran’s GDP, oil production and exports,…
Cameron GlennThe most significant development in March and April was the nuclear framework announced on April 2 by Iran and the world’s six major powers. They now face a June 30 deadline for converting a blueprint into a final nuclear deal. International investors have begun eyeing Iran in…
Iranians believe economic conditions have improved since sanctions were eased under the Joint Plan of Action in November 2013, according to a new Gallup poll. In May 2013, 62 percent of Iranians said sanctions hurt their livelihood "a great deal," but only 45 percent gave the same response in…
Garrett NadaJanuary and February The most important developments in early 2015 were Iran’s reactions to low oil prices. The price of crude oil was still hovering around $60 a barrel in February, down from $115 in June 2014. In January, Iran’s government readjusted the new budget to assume an oil…
Garrett Nada President Hassan Rouhani made significant headway in stabilizing Iran’s economy in 2014. During his first full calendar year in office, he began addressing mismanagement and corruption from President Mahmoud Ahmadinejad’s tenure. His policies brought inflation down from 39…
Iran was ranked 130 out of 189 economies by the World Bank in its new Doing Business report, two positions higher than last year. The report measures regulations affecting 11 areas of the life of a business. Iran ranked 62 for starting a business, 89 for acquiring credit and 172 for…
Garrett Nada The biggest news in October was President Hassan Rouhani’s announcement that oil revenues have been slashed 30 percent. The cut is due in part to the falling oil price, now at about $85 a barrel, the lowest since 2012. Iran is largely dependent on crude oil exports, which…
On July 29, Treasury Under Secretary for Terrorism and Financial Intelligence David S. Cohen testified before the Senate Foreign Relations Committee on Iran’s economy. The following are excerpts with a link to the full text. The State of the Iranian Economy When we…
The most important developments in June and July were India’s payments of two more installments of $550 million to Iran for previous oil purchases. The interim nuclear deal enabled the repatriation of $4.2 billion in oil revenues to Tehran. India forwarded its first of payment in May.…
President Hassan Rouhani and his oil minister, Bijan Namdar Zanganeh, have launched an ambitious reform program for the oil and gas industry. They are trying to roll back the dominance of the Revolutionary Guards, halt privatization, prioritize near-completion projects and attract…