![\"Ridiculous](\"https:\/\/www.ncr-iran.org\/en\/wp-content\/uploads\/sites\/2\/2018\/11\/Irans-Failing-Banks.jpg\" "\\"Irans-Failing-Banks\\"")
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By Amir Taghati<\/p>\n
The new round of Trump\u2019s sanctions against Iran, is to take effect on November 4th. Which will imply two main points:<\/p>\n
1) ending Iran\u2019s oil and gas exports<\/p>\n
2) ceasing Iran\u2019s connection with international financial networks.<\/p>\n
Given these implications, there is now an ongoing mental war between the two countries.<\/p>\n
John Bolton, the National Security Advisor of US, has recently announced that the upcoming sanctions will bear very heavy consequences for Iran\u2019s economy, so much so that the government will be forced to give into negotiations. Bolton also clarified that these consequences cannot be prevented even with the assistance of the European Union.
The first vice president of Hassan Rouhani\u2019s government, Eshaq Jahangiri, seems to disagree however; stating that he doesn\u2019t expect Iran\u2019s economy to be impacted much by the sanctions.<\/p>\n
Oil Sanctions<\/p>\n
In his October 28th speech, Jahangiri admitted to a reduction in Iran\u2019s recent oil exports, labelling it as \u201cinsignificant\u201d.<\/p>\n
He stated that with the cooperation of China, India, Russia, and the European Union, US won\u2019t be able to impact Iran\u2019s economy much; emphasising that Arabia\u2019s claims (of being able to Iran\u2019s oil) can\u2019t be backed up, and that US will be unable to find a replacement.<\/p>\n
Jahangiri also predicted that in the event of an end to Iran\u2019s oil exports, the price of oil can go up to $100 a barrel. But let\u2019s not forget that Iran\u2019s oil value has recently dropped in the global market; which seems to have been caused by an increase in Iraq and Arabia\u2019s oil productions, as well as an increase in Europe\u2019s oil reserves.
Currency Reserves<\/p>\n
According to Jahangiri, Iran has had an unprecedented increase over the past several months, standing at around 100 billion dollars.<\/p>\n
Jahangiri has also commented in regards to the country\u2019s production requirements: \u201cdue to the current circumstances, we are facing certain limitations in our production sectors, but I know that with the help of our private sectors, the government can resolve these challenges successfully\u201d and that the government can therefore neutralise the impacts of US sanctions, leading to \u201cnothing new happening on 4th November\u201d.<\/p>\n
Despite these claims, Jahangiri seems unable to explain the regime\u2019s inability to resolve the mentioned difficulties in the field of production.<\/p>\n
If there really was any increase in Iran\u2019s currency reserves, then why are people so unhappy with their quality of life, as evident by their ongoing strikes and protests across the country, and why is the country\u2019s economy in great mess, as evident by the decreasing currency value and increasing inflation?<\/p>\n","protected":false},"excerpt":{"rendered":"
By Amir Taghati The new round of Trump’s sanctions against Iran, is to take effect on November 4th. Which will imply two main points: 1) ending Iran’s oil and gas […]<\/p>\n","protected":false},"author":15,"featured_media":52260,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[178],"class_list":["post-25466","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-save"],"yoast_head":"\n