Middle East

Wednesday 23 July 2014

Iran losing out on $100m a day over sanctions

Published 14/11/2012|05:00

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The damage wrought by sanctions on Iran's economy became clear yesterday when oil exports were shown to have fallen by 43pc since last year, costing about $100m (€78m) every day in lost revenue.

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The EU imposed an embargo on Iranian oil on July 1 as the Western powers sought to compel Tehran to negotiate over its nuclear ambitions. The US and its allies have also targeted Iran with financial sanctions. (© Daily Telegraph, London)

Irish Independent

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