Iran under 'unprecedented' pressure from sanctions
- 5 years ago
Iranian President Hassan Rouhani has admitted his country is under "unprecedented" pressure, swamped by the weight of global sanctions.
For more on this and other news around the world, let's turn to our Hong Yoo…
So Yoo, just how bad is Iran's economy right now?
Well Mark, according to President Rouhani, Iran could face harsher economic conditions than during the country's war with Iraq in the 1980s .
As Iran faces tightening U.S. sanctions, Rouhani said on Saturday that his country was under pressure comparable to when Saddam Hussein's army invaded Iran in 1980.
U.S. sanctions on Iran's energy, shipping and financial sectors have hit oil exports and caused foreign investment to dry up.
But with President Trump's new sanctions on Iran's industrial metals such as iron, steel, aluminum and copper, the Iranian economy is expected to shrink even more, according to experts.
The Trump administration also deployed an aircraft carrier and bomber task force to the Middle East last week,... claiming that it was a response to a possible threat to U.S. forces in the region by Iran.
The pressure is expected to continue and could go further, until they negotiate a new deal.
Rouhani, who is under heavy domestic political pressure, called for unity among Iran's political factions to overcome the conditions.
He said he has great hope for the future and he believes Iran can move past these difficult conditions, if they stay united.
For more on this and other news around the world, let's turn to our Hong Yoo…
So Yoo, just how bad is Iran's economy right now?
Well Mark, according to President Rouhani, Iran could face harsher economic conditions than during the country's war with Iraq in the 1980s .
As Iran faces tightening U.S. sanctions, Rouhani said on Saturday that his country was under pressure comparable to when Saddam Hussein's army invaded Iran in 1980.
U.S. sanctions on Iran's energy, shipping and financial sectors have hit oil exports and caused foreign investment to dry up.
But with President Trump's new sanctions on Iran's industrial metals such as iron, steel, aluminum and copper, the Iranian economy is expected to shrink even more, according to experts.
The Trump administration also deployed an aircraft carrier and bomber task force to the Middle East last week,... claiming that it was a response to a possible threat to U.S. forces in the region by Iran.
The pressure is expected to continue and could go further, until they negotiate a new deal.
Rouhani, who is under heavy domestic political pressure, called for unity among Iran's political factions to overcome the conditions.
He said he has great hope for the future and he believes Iran can move past these difficult conditions, if they stay united.