Pod Save America Hosts Call on Democrats to Cut All Israel Military Aid, No Longer Accept AIPAC Funding
Jews, Israelis Targeted in Austria Amid Surge in Antisemitic Incidents; Local Jewish Community Calls for Action
‘All of Our Strength’: Over 1,000 Pro-Israel Activists Gather in DC for Solidarity Conference
‘Devastated’: Wesley LePatner, Killed in Manhattan Mass Shooting, Was a Jewish Communal, Philanthropic Leader
Sen. Angus King Vows to No Longer Vote for Israel Military Aid Until Gaza Conditions Improve
Europe Won’t Pressure Israel to ‘Commit Suicide’ Amid Gaza Backlash, Palestinian State Push, Says Israeli FM
Israel’s National Soccer Coach Attacked in Athens Before Soccer Fans Chant ‘F–K Israel, Free Palestine’ at Match
New York Judge Sentences Neo-Nazi to 5 Years for Livestreaming Bomb Threats Against Jewish Hospitals
US Pressures Lebanon to Issue Cabinet Decision to Disarm Hezbollah Before Talks Continue
UK Plans to Recognize Palestinian State in September Unless Israel Meets Conditions, Starmer Says
World Bank: Iran to Feel Worse Recession as US Sanctions Squeeze Economy
Error: Contact form not found.
by JNS.org
View north of Tehran. Photo: Flickr/Wikimedia Commons.
JNS.org – Iran will likely undergo a worse recession amid US sanctions against Tehran, projected the World Bank in a report published on Wednesday.
The country’s gross domestic product is expected to decrease by 4.5 percent in 2019, with the intergovernmental organization predicting minus-3.6 percent GDP growth this year.
“The oil industry is an important part of Iran’s economy, and its oil production is clearly going to drop because of the new US sanctions,” Patrick Clawson, research director for the Washington Institute for Near East Policy, told Voice of America.
Since withdrawing in May 2018 from the 2015 Iran nuclear deal, the United States has reimposed sanctions lifted under it, along with enacting new economic penalties against Iran, including on Iranian oil exports.
Last month, the Trump administration declined to issue further waivers to countries over importing Iranian oil.
The United States has also designated the regime’s Islamic Revolutionary Guard Corps as a terrorist organization.
