Iran’s Oil Revenues Have Been Diminished By Half By International Sanctions

Iran’s revenue has been cut in half because of  international sanctions imposed over its disputed nuclear programme, Economy Minister Shamseddin Hosseini said in remarks quoted by media on Monday.

Highlights from market news:

– Subject to harsh Western sanctions over its controversial nuclear work, Iran is struggling against what it calls an “economic war” to cope with punitive measures targeting its vital oil income and access to global financial systems

– According to the International Energy Agency, Iranian exports in November were estimated at 1.3 million barrels per day, down from nearly 2.3 million last year.

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