As the US piles sanction after sanction on Iran, it's the average person in the street who feels it the most.
June 24, 2019
Many blame President Donald Trump and his maximalist policy on Iran, which has seen him pull out of Tehran’s 2015 nuclear deal with world powers and levy punishing U.S. sanctions on the country. Walking by any money exchange shop is a dramatic reminder of the hardships most people are facing. At the time of the nuclear deal, Iran’s currency traded at 32,000 rials to $1. Today, the numbers listed in exchange shop windows have skyrocketed — it costs over 130,000 rials for one U.S. dollar.
Hossein Rostami, a 33-year-old motorbike taxi driver and deliveryman, said the price of brake pads alone had jumped fivefold. The rest of the country’s budget comes from taxes and non-oil exports, among them oil-based petrochemical products that provide up to 50% of Iran’s $45 billion in non-oil export.
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