|
Trending Topics
|
Source: https://www.nytimes.com/2025/09/27/world/middleeast/sanctions-iran-economy-snapback.html
Iranians Brace for Economic Impact of New UN Sanctions
(New York Times) Farnaz Fassih - Iran's economic situation, already dire with water and power shortages, staggering budget deficits, and a devalued currency, is now expected to deteriorate even further after the UN Security Council reimposed harsh sanctions on Iran over its nuclear program. The new sanctions freeze assets and ban travel for a range of Iranian entities and individuals, and authorize countries to stop and inspect cargo traveling from Iran by air and sea on Iranian government vessels, including oil tankers. The sanctions also prohibit Iran from enriching uranium at any level, launching ballistic missiles with nuclear warhead capability and transferring technical knowledge of its ballistic missiles. On Saturday, Iran's markets quickly reacted to the news of the new sanctions, with the rial dropping 4% on Saturday to a 1,126,000 to the dollar in the black market. Iranians are already struggling with inflation of over 40% and rising unemployment.