TEHRAN (AP) \u2014 Iran\u2019s top leader ordered the government Wednesday to create an \u201ceconomy of resistance\u201d to counter sanctions imposed over Tehran\u2019s nuclear program<\/p>\n
Ayatollah Ali Khamenei called Western sanctions \u201ca full-fledged economic war\u201d and said Iran is determined to force the West to retreat.<\/p>\n
Iran has been hit hard by sanctions that have hit, among other targets, its vital oil sector. The program requires the government to diversify Iran\u2019s exports, reduce dependence on sales of raw materials and promote knowledge-based high-tech industries.<\/p>\n
\u201cIf (Iran) pursues \u2026 an economy of resistance, we will overcome economic problems and will defeat the enemy \u2026 that has imposed a full-fledged economic war against this great nation,\u201d he said in his order which was posted on his website leader.ir.<\/p>\n
Under the program, the government must take action to expand production and export of knowledge-based products, increase domestic production of strategic goods and develop markets in neighboring countries. It also encourages greater privatization and increased exports of electricity, gas, petrochemical and oil by-products instead of crude oil and other raw materials.<\/p>\n
Iranian officials say it will be harder to target oil byproducts with sanctions that it will be to target crude.<\/p>\n
Western sanctions over Iran\u2019s nuclear program also shut Iran out of the international banking system, making it hard for its remaining customers in Asia and elsewhere to pay.<\/p>\n
An interim nuclear deal reached in November with world powers has eased some sanctions but the core remains in place \u2014 including measures targeting Iran\u2019s oil exports, the pillar of its economy.<\/p>\n
Crude oil exports account for nearly 80 percent of Iran\u2019s foreign revenue but have been reduced by half in the past two years due to stepped up sanctions. It currently exports about 1 million barrels a day \u2014 compared to 2.2 million in 2011.<\/p>\n
Iran says its non-oil exports have increased to about $40 billion a year, showing an annual 20 percent increase.<\/p>\n
Iran and the six-nation group \u2014 the five permanent members of the UN Security Council plus Germany \u2014 began talks for a final deal in Vienna Tuesday.<\/p>\n
Khamenei, who has the final say on all state matters in Iran, has said he had accepted the talks but doubts they will succeed, saying Washington is using the nuclear issue as an \u201cexcuse\u201d to pressure the country.<\/p>\n
In his order, Khamenei has asked the government to closely monitor sanctions and impose costs on the \u201cenemy,\u201d a reference to the US.<\/p>\n","protected":false},"excerpt":{"rendered":"
TEHRAN (AP) — Iran’s top leader ordered the government Wednesday to create an “economy of resistance” to counter sanctions imposed over Tehran’s nuclear program Ayatollah Ali Khamenei called Western sanctions […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[175],"class_list":["post-16016","post","type-post","status-publish","format-standard","category-iran-a-world","tag-updated"],"yoast_head":"\n