Iranians are bracing for the impact of US sanctions that are due to snap back into place on August 6, following President Donald Trump’s decision to pull the US out of the Iran nuclear deal.
The looming restrictions will block trading of precious metals, steel, coal, currency and debt, as well as Iran’s purchase of US dollars. The sanctions are expected to further slow Iran’s already faltering economy, and that’s before a further round of US restrictions target Iran’s oil, energy and shipping industries in November.
Iran’s mounting economic challenges present a stern test for President Hassan Rouhani. Having already faced brusque opposition by conservatives unhappy with his stewardship of the government, recent protests in Khorromshahr and Tehran’s Grand Bazaar have left him with little room for manoeuvre.
The Stream will look at how Iranians are coping in the immediate aftermath of the US’s exit from the nuclear deal and what lies in store when the sanctions begin to bite.
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