Economics
Oil Sales, Bank Woes: Can Iran's Economy Survive Trump Exit?
- Ability to contain economic damage vital to stability
- Recovery in oil sales was Iran’s main gain from nuclear accord
Trump Says He'll Exit Iran Nuclear Deal
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Whatever steps Iranian leaders take after Donald Trump’s decision to withdraw from the nuclear accord, none will be more critical to domestic stability than their efforts to minimize the economic damage.
The currency is plunging, banks are struggling with bad loans and the looming return of broad U.S. sanctions mean European companies, many already on the fence, will likely decide it’s too risky to invest in the Islamic Republic. A significant loss of oil revenues would hit state coffers hard and present a challenge for President Hassan Rouhani, who won two elections promising to end Iran’s isolation and revive its economy.