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U.S. Treasury: Iran’s economy remains in a state of distress

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U.S. Treasury Secretary Jacob Lew says " Iran’s economy remains in a state of distress" and impact of the sanctions will not be reversed.

“Iran sanctions are the toughest the world community has imposed on any country and its economy is suffering a serious blow as a result – an impact that is not being reversed,” Mr. Lew said.

“As we approach the last month of the agreed upon period for negotiations, Iran’s economy remains in a state of distress.”

The Treasury Secretary also said that the ongoing damage from sanctions over the last six months has been greater than economic relief from the easing, which Mr. Lew described as “extremely limited.”

Jacob Lew made the comments on his first official visit to Israel this week discussing bilateral economic relations.