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U.S. Oil Sanctions Trigger Recession In Iran

OilPrice.com Tuesday, 18 June 2019
Iran’s economy contracted by 4.9 percent in the 2018-2019 year ended in March, slipping further into recession as diminishing oil exports due to the U.S. sanctions are depriving the Islamic Republic of its economic lifeline—oil revenues. The 4.9-percent contraction between March 2018 and March 2019, reported by the Statistical Center of Iran cited by VOA, could worsen even further as the U.S. removed all sanction waivers for Iranian oil buyers as of May 2. After the U.S. ended all sanction waivers for Iran’s oil customers on May…
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News video: As U.S., Iran Face Off, Saudi Arabia Scrambles To Protect Gulf Oil

As U.S., Iran Face Off, Saudi Arabia Scrambles To Protect Gulf Oil 00:49

Saudi Arabia called for swift action Saturday to secure Gulf energy supplies. The announcement came after the United States blamed Iran for attacks on two oil tankers in a vital oil shipping route that have raised fears of broader confrontation in the region. According to Reuters, Thursday’s tanker...

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