Iran Focus

London, 20 June - On Monday June 17, Ghasem Mirza Neko, a Member of the Iranian parliament, called the “export of revolution” and “waging war against the world” as reasons for the tough situation faced by ordinary Iranians inside the country. Apparently, this was a reaction to the critics of hard conditions inside Iran.

“When you want to live in a cave, when you want to fight the whole world and export the revolution to everywhere, you have to accept hardships, not just for 14 years, but for much longer than that."

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By Pooya Stone

The Iranian government has admitted that its economy fell into a worse recession in 2018 than international organizations predicted after the US started reimposing sanctions on Iran's oil industry and other financial sectors.

The Statistical Center of Iran published a report Sunday that said Iran's gross domestic product decreased by 4.9% in the last Persian year, which ended on March 21.

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By Pooya Stone

It has been reported in Iran that the National Iranian Oil Company’s (NIOC) owed almost $50 billion at the end of the Iranian year (21st March 2019).

Over the years, Iran has brought in nearly $2 trillion in oil revenues. But years and years of mismanagement, neglect and corruption have destroyed the country’s oil infrastructure.

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Iran Focus

London, 14 June - Faced with increasing economic pressure, mainly by U.S. sanctions, the Iranian authorities are having to come up with new sources of revenue to make up for its loss.

U.S. President Donald Trump announced last year that the United States would be pulling out of the Joint Comprehensive Plan of Action (JCPOA). The U.S. State Department then announced that it would be calling on all countries to cut their imports of Iranian oil to zero. Waivers were granted to some of the biggest importers of Iranian oil, but they expired, and were not renewed, earlier this year.

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By Jubin Katiraie

The US Treasury’s Office of Foreign Assets Control has placed Iran’s petrochemicals industry on its anti-terrorism sanctions list, which deals a heavy blow to the Iranian economy and further diminishes Iran’s revenues.

The US has previously imposed sanctions on a number of Iranian petrochemical companies, but this is the first time that the industry as a whole, which is Iran's largest source of non-petroleum revenues, has been targeted.

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