Iran Outlines Budget to Resist U.S. Sanctions as Crude Oil Exports Plunge

us sanctions on iran november 2018

President of Iran presented a draft state budget of about $39 billion to parliament on Sunday, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports. Officials have not given figures for the oil price and export volumes used in the calculations, although the IMF has indicated Iran would need oil prices to be triple current levels to balance its budget as its crude exports have plunged.

Read moreIran Outlines Budget to Resist U.S. Sanctions as Crude Oil Exports Plunge