Iran suffering from economic turmoil with growing public anger

Iran suffering from economic turmoil with growing public anger

Iran has been caught in the midst of a wretched crisis in the economy as there is a scarcity in jobs and the food prices among other essential items skyrocketing. The economy has been shrinking rapidly and there is an increasing feeling of disgust among the Iranians.

The sanctions which have been imposed by the administration of Donald Trump have crippled Iran and their access to the markets internationally and has decimated their economy that is now showing a contraction at an alarming pace annually of 9.5% as per the estimates of the IMF. The exports of oil had been virtually zero in the month of December as per the economists as the sanctions have been impacting the sales even with the smugglers transporting an unknown amount of volumes.

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The pressure had intensified on Tuesday as Germany, France and Britain serving a notice that would trigger formally the negotiations with the country towards a forcing back to comply with the nuclear deal made in the year 2015 which is a step that may lead to the imposition of the sanctions of United States.

The economy being bleak is appearing to temper Iran’s willingness to escalate the situation of hostilities with the United States as they know that a war might worsen the situation of the economy a lot more. In the months in recent past there has been anger in the public due to lack of jobs, anxiety about the economy and the corruption emerging as a major threat to the hardline regime of Iran.

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The sentiment was further redirected by the outrage over the killing of their military general by the Trump led administration of the United States.