The impacts of fresh US sanctions on Iran have been cushioned by high oil prices and Washington’s international isolation, with Tehran being better placed to weather the storm, a Reuters analysis says.
Citing officials and analysts, the news agency said while the US sanctions will probably trigger recession in Iran next year, they will not lead to an economic meltdown.
US President Donald Trump on Monday decided to trumpet sanctions on Iran not with a speech, but a Twitter meme in reference to Game of Thrones, “Sanctions are coming.”
“Iran’s situation is better than pre-2016 because of high oil prices and the fact that the US is isolated this time,” the report by Reuters quoted a European diplomat as saying.
The diplomat’s comments echo the official stance of the Iranian government, which says the recent rise in oil prices has offset the impact of US sanctions on Iran’s oil exports.
“Trump thought he could…