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BUSINESS: U.S. sanctions hit Iran infographic
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Iran announces partial resumption of nuclear programme

Graphic News

May 7, 2019 -- U.S. President Donald Trump’s sanctions against Iran have triggered a collapse in economic growth, pushing the Islamic republic into a deep recession and lifting inflation towards 40 per cent.

One year to the day after Trump’s withdrawal from a landmark 2015 nuclear deal, the Joint Comprehensive Plan of Action (JCPOA), Iran has announced that it will restart part of its nuclear programme, the state-run IRIB news agency reported on Monday.

IRIB reported that President Hassan Rouhani would announce that Iran would reduce some of its “minor and general” commitments under the deal on Wednesday.

Trump has said the JCPOA is flawed in Iran’s favour for doing nothing to curb its ballistic missile programme or its support of proxy forces in several Middle East wars.

Trump has reimposed harsh sanctions on Iran, ending waivers on eight countries importing Iranian oil with the stated aim of cutting them to zero and starving Iran’s economy. Average oil exports have fallen from 1.7 million barrels a day (b/d) in 2018 to 930,000 b/d in 2019, costing the government some $10 billion in lost oil revenue.

The Trump administration has deployed the USS Abraham Lincoln Carrier Strike Group and an unspecified bomber task force to U.S. Central Command’s region of responsibility, which covers the Middle East.

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