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Tehran 21 January_Iran has exported $32 billion of non-oil goods so far in the current Persian year ending March 21, 2020, shoring up its economy which is under severe pressure from unprecedented US sanctions.
TEHRAN, Young Journalists Club(YJC)-This is like a miracle in the current economic situation of the country,” Iran’s Deputy Industry Minister Hossein Modares Khiabani told an exports quality summit in Tehran, Fars news agency reported Tuesday.
The Iranian economy has been carrying on at a relatively steady clip after a period of turmoil when the Trump administration unleashed its most ferocious economic attack on the country in November 2018 with a pledge to sink its oil exports to zero.
The sanctions are part of Washington’s “maximum pressure” policy which the US administration hopes would ultimately force Iran to negotiate a sweeping deal, covering its ballistic missile program and its role in Middle East.
The Islamic Republic, however, has held its ground and said it will not renegotiate a 2015 nuclear deal which President Donald Trump abandoned in May 2018 and announced the most draconian sanctions ever on the country.
“Non-oil exports have almost replaced oil exports, and the country is governed by the revenues of the non-oil sector,” Modares Khiabani said.
However, the Trump administration is gerrymandering, tweaking the contours of its supposed sanctions relief from time to time to put more aspects of the Iranian economy under strain.
The US Treasury Department announced last month that its new sanctions targeting Iran's air and maritime transport industries would lead to the restriction of trade related to humanitarian goods.
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