NCRI- With the oil and currency sanctions on the regime since June 2012, the country’s economy is facing a period of economic fluctuations in which severe reduction in oil sales, increase in foreign currency rate, inflation and recession are its indexes.
Some of the volatility and possible prospects are as following:
1. The number of oil and gas customers of the country has significantly reduced such that the average 2.1 million barrels oil export before the sanction has been reduced to 860 thousand barrels in July, 800 thousand barrels in August, 1.2 million barrels in September and 1.070 million barrels in November.
2. The international assessment is that Iran’s oil sales will reach 834 thousand barrels in December since some of the countries have reduced their oil purchase form Iran so that they are not subjected to activity sanctions in the US market.
3. The average oil price for export has reached $100 per barrel which compared to last year’s $120 per barrels there is a reduction in oil price due to increase oil production by Saudi Arabia and some other countries.
Although due to domestic procurement this situation has come to some extend under control in the past 2 to 3 months, the provision of new sanctions in the US congress and the EU in order to increase the pressure on the Islamic Republic to accept the West’s view on the nuclear issue makes the prospective more critical and closed.
