Home Economy IRAN: Our Oil Revenue Drops From $120 Billion to $20 Billion

IRAN: Our Oil Revenue Drops From $120 Billion to $20 Billion

by newsupe

Iranian President Hassan Rouhani said his country’s oil revenue has fallen from $ 120 billion to $ 20 billion over the past 8 years.

Speaking at the opening ceremony of the 2020-2021 Higher Education in Tehran, the capital, Rouhani gave an assessment of his country’s economic situation, according to Iran’s official news agency IRNA.

“We are facing economic sanctions of a dimension rarely seen in the history of the world. In 2011, our oil revenue was $ 120 billion, which fell to about $ 20 billion last year. This situation shows how difficult the community is, ” he said.

Emphasizing the need to focus on domestic production, Rouhani noted that life is extremely difficult without relations with the countries of the world.


President Donald Trump, announced that it has withdrawn from the treaty and Iran’s nuclear program May 2018 8 access to US dollars, government bonds to sell gold and other precious metals with steel, aluminum, coal and metals such as passenger aircraft or parts of a package of sanctions that prevent trade with to import 3 months after it was officially implemented.

The second package of U.S. sanctions against Iran came into effect on November 5, 2018, after the 180-day deadline expired.

Accordingly, international restrictions were imposed on the Iranian National Oil Company, the Iranian Oil Trading Company and the national Tanker Company, while sanctions were imposed on the sale of oil and its products from Iran, whose economy is largely based on oil.

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