Coronavirus Will Hammer Iran’s Economy
The contagion has done what American economic sanctions could not: shut down non-oil exports.
Trade barrier.
Photographer: Anadolu Agency/AnadoluThis article is for subscribers only.
Iran is now one the epicenters of the novel coronavirus outbreak outside of China: officials have reported 61 confirmed cases of the virus, resulting in at least 12 deaths. Some reports suggest the true numbers could be much higher than Tehran is letting on. Iran’s neighbors, including major export markets Iraq and Turkey, have closed their borders and canceled air travel.
These restrictions could remain in place for months, and will hammer the Iranian economy, which had been showing signs of recovery following 18 months of deep recession triggered by the Trump administration’s reimposition of secondary sanctions in November 2018.