Economic and Socioeconomic Consequences of US Sanctions on Iran

  • Year of Printing: 2020
  • Print Edition:

The US sanctions on Iran, which comprise the prohibition of economic and financial transactions and target certain people and entities, have caused devastating problems. Although the sanctions were put into full effect only 15 months ago, they have engendered severe impacts on Iran, ranging from soaring inflation to rising unemployment and from a shortage in some commodities to expanding poverty. Due to the experiences from the previous nuclear sanctions, Iranian society has been in an acute psychological mood since May 2018.

The US sanctions on Iran, which comprise the prohibition of economic and financial transactions and target certain people and entities, have caused devastating problems. Although the sanctions were put into full effect only 15 months ago, they have engendered severe impacts on Iran, ranging from soaring inflation to rising unemployment and from a shortage in some commodities to expanding poverty. Due to the experiences from the previous nuclear sanctions, Iranian society has been in an acute psychological mood since May 2018.