Newsletter
Newsletter Support JNS

World Bank: Iran to feel worse recession as US sanctions squeeze economy

The country’s gross domestic product is expected to decrease by 4.5 percent in 2019.

A view north of Tehran, home to nearly 50 percent of Iran's industries. Credit: Flickr/Wikimedia Commons.
A view north of Tehran, home to nearly 50 percent of Iran’s industries. Credit: Flickr/Wikimedia Commons.

Iran will likely undergo a worse recession amid U.S. sanctions against Tehran, projected the World Bank in a report published on Wednesday.

The country’s gross domestic product is expected to decrease by 4.5 percent in 2019, with the intergovernmental organization predicting minus-3.6 percent GDP growth this year.

“The oil industry is an important part of Iran’s economy, and its oil production is clearly going to drop because of the new U.S. sanctions,” Patrick Clawson, research director for the Washington Institute for Near East Policy, told Voice of America.

Since withdrawing in May 2018 from the 2015 Iran nuclear deal, the United States has reimposed sanctions lifted under it, along with enacting new economic penalties against Iran, including on Iranian oil exports.

Last month, the Trump administration declined to issue further waivers to countries over importing Iranian oil.

The United States has also designated the regime’s Islamic Revolutionary Guard Corps as a terrorist organization.

The two heads of towns on the Lebanese border oppose relocation as residents receive short “reprieve” hotel stays instead.

“The expansion of our emergency services will help us better care for patients with the most serious injuries, ensuring they receive the specialized treatment they need, when it matters most,” the hospital said.
“Once again your decisive leadership brought another great victory to America,” the Israeli leader says.
“My intent was to honor our Jewish neighbors and friends,” Nathalie Kanani stated. “We are all human, and even with the best intentions, honest mistakes can happen.”
The man was recognized by police officers while attending a court hearing of the three other suspects connected to the case.
The U.S. president warned that the U.S. military will begin targeting Iranian power plants and bridges on Tuesday if the Strait of Hormuz is not opened.