Economics
As Bad as War? Trump Steps Seen Deepening Iran's Economic Pain
- Even before latest sanctions, Iran’s economy was set to shrink
- Iran officials say impossible to lower oil exports to zero
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In the 40 years of Iran’s Islamic Republic, 2019 is shaping up to be among the worst for an economy that’s weathered wars, sanctions and oil slumps.
Even before the U.S. decided to tighten oil sanctions against Iran last week, the rial currency had lost two thirds of its value against the dollar, and the International Monetary Fund expected gross domestic product to shrink 6 percent.