In Iran, importers of the essential goods face difficulty in receiving credible currency from Iran Central Bank. The London based Financial Times wrote that the main reason for Iran’s financial crisis is the significant drop in the oil export due to the international sanctions imposed on Iran for its nuclear program.
In a report from Tehran, the Financial Times reported that the current financial mayhem in Iran is a reminder of the time prior to the election of Rouhani. The importers of essential goods say that with the delay in receiving currency, the circulation of goods in Iran has substantially reduced. Merchants that ship essential goods to Iran, refuse to unload those materials in Iranian harbors, because they can get nothing to secure their money.
Iran’s economy minister last week said that the oil price fall has created a dire economic situation in Iran. Right now the country is involved in a worst battle of its life, much worse than the Iran-Iraq 8-year war.