Iranian economy continues to feel effects of American sanctions

OAN Newsroom
UPDATED 10:06 AM PT — Thurs. Sept. 13, 2018

The Iranian economy continues to feel the repercussions of American sanctions amid heightening bilateral tensions.

Shop owners across Tehran have expressed their grievances with their own government, saying internal politics and corruption are to blame.

In this Thursday, Sept. 6, 2018 photo, an Iranian salesman stands in his stall at the Grand Bazaar in Tehran, Iran. Fear over the economy has brought many to the bazaar in recent days to buy what they can before their savings further dwindle away. The Iranian rial has dropped drastically recently against the U.S. dollar with many anticipating further drops as the U.S. restores punishing sanctions on Iran’s crucial oil industry in early November. (AP Photo/Vahid Salemi)

Meanwhile, the value of its currency has plummeted against the dollar as it tries to withstand the economic repercussions.

This comes as European supporters of the deal attempt to salvage the 2015 Iran Nuclear Accord, following the U.S.’s withdrawal back in May.

“It has become difficult, but we should lower our expectations,” said Iranian resident Kiana Ismaili. “If things are difficult, it’s difficult for everyone, not just for me — we have to somehow deal with it.”

The U.S. imposed an additional round of sanctions on Iran — targeting its already weak economy — just last month.

Another round of sanctions could take effect at the beginning of November and would be targeting the petroleum sector.

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