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The fall in Iran’s Economy due to Sanctions

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The fall in Iran’s Economy due to Sanctions

The deputy secretary of the US Treasury, William Cohen said oil sanctions placed by the US and the EU has cost Iran’s economy about $80 billion since the beginning of 2012. About $100 billion of its assets have been frozen and out of the reach of the Iranian regime. Oil sanction alone has cost Iran $5 billion a month. This means that after 6 months which is the time span for any comprehensive deal on Iran’s Atomic program, this regime would lose about $30 billion just from oil revenue.