Economy Minister: Sanctions on Iran Affecting World Economy | ||
Economy Minister: Sanctions on Iran Affecting World Economy Iran’s Economy Minister Seyed Shamseddin Hosseini said that the world industrial countries are having a difficult time due to the US-led sanctions on Tehran, and added that food prices have risen considerably in the global markets. “Sanctions against Iran have created difficult conditions for the industrial countries,” the Iranian minister told reporters on the sidelines of a ministerial meeting of the UN Economic and Social Commission for Asia and Pacific (ESCAP) in Tehran. He noted that the unilateral sanctions have made the world markets unstable and increased the global food prices, adding that Iran has reduced its crude oil sales to foreign countries and the country’s parliament parliament plans to further reduce crude exports to increase supply of oil products to gain more value added. Earlier this year, the Iranian economy minister said that the country’s Gross Domestic Product (GDP) doubled in the last five years, adding that the powerful growth proves Tehran’s ability to successfully defuse the western sanctions. Late in June, Iranian First Vice-President Mohammad Reza Rahimi said that harsh punitive measures against Iran both signify the country’s power and strengthen its self-reliance, and called on the country’s officials to embrace the sanctions as they would consolidate the nation’s unity and progress. “We should greet the oil sanctions provided that we stay together,” Rahimi said, addressing a ceremony on the occasion of the National Day of Industry and Mine. Rahimi said that Iran has the 17th largest world economy, and noted, “Tough sanctions indicate Iran’s greatness and grandeur.” | ||
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