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7 days ago by geekzter
Why coronavirus could hit Iran harder than US sanctions | Financial Times
The republic produces enough food for its 80m population and exports to neighbours. Iranian companies account for about 70 per cent of the country’s pharmaceutical needs, with the remainder — either finished medicines or inputs — imported. Neither sector is sanctioned, but the difficulty of conducting financial transactions, with few banks willing to touch anything connected with Iran, has led to a shortage of some specialist medicines, such as cancer drugs — and now equipment to fight coronavirus. 


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https://www.ft.com/content/ba417ace-6474-11ea-b3f3-fe4680ea68b5

“If it was not for Mr Trump . . . Iranian industry would not have had the growth it has,” Mr Arjomandi says. 

Yet, he does not attempt to sugarcoat the situation. “While many businesses grow, people’s living standards have been shrinking,” he says. “Even my workers, who are benefiting, they have concerns about health, security and rents. Will landlords increase rents? If their children are sick, will they have access to medicine?”
sanctions  Iran  industry  COVID  smuggling  oil  trade 
9 days ago by elizrael

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