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Report: Iran oil revenues down 45 percent - ASHARQ AL-AWSAT English Archive
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TEHRAN, Iran (AP) — A senior lawmaker says Iran’s revenues from oil and gas exports have dropped by 45 percent because of sanctions over its suspect nuclear program.

It was a clear admission that the sanctions are having a severe impact, but Iran refuses to reign in its program.

Gholam Reza Kateb, head of the parliament’s budget committee, says oil exports dropped 40 percent in the last nine months, cutting revenue dropped 45 percent. He was quoted Monday by the semiofficial ISNA news agency. Banking sanctions caused part of the drop.

Iran is under U.N. sanctions and Western oil, banking and trade restrictions over its refusal to halt uranium enrichment.

The U.S and its allies believe Iran of may be aiming to produce nuclear bombs, a charge Tehran denies.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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