Washington's policy of applying 'maximum pressure' on Iran with w...
NEW YORK - Washington’s policy of applying “maximum pressure” on Iran with wide-ranging sanctions has shredded the country’s oil revenues, sent its economy into recession and devalued its national currency.
To circumvent U.S. banking and financial sanctions, Iran’s rulers have built up a network of traders, companies, exchange offices, and money collectors in different countries, they say. New sanctions brought in after President Donald Trump withdrew from that agreement last May are the most painful ever imposed by Washington, targeting nearly all sectors of Iran’s economy including how it finances its international trade.
Iranian officials repeatedly contend that the country can weather the storm, but the reality on the ground is harsh. Tensions have been further raised by Sept. 14 attacks on U.S.-ally Saudi Arabia’s oil sites that Washington, Riyadh and the European Union blame on Iran. Tehran denies involvement in the attacks, which were claimed by Iran-aligned Houthi group in Yemen.
He said he has sold “tonnes of goods” in recent months and traveled to Dubai three times per month to “get the job done.”
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