Feb
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Nader Habibi discusses Iran, OPEC and the future price of oil in BrandeisNow
February 4, 2014 | Leave a Comment
Professor Habibi discusses the impact of economic sanctions on Iran’s economy and how Iran’s changing role in the oil market is influencing the political climate of the Middle East in the most recent issue of BrandeisNow.
“Iran’s declining oil exports sharply reduced government oil revenues and caused considerable economic hardship for its citizens. The revenue shortfall led to an exchange rate crisis in late 2012 and a sharp devaluation of Iran’s currency, the rial. Inflation and unemployment reached record high levels last year. This severe economic pressure finally convinced Iran’s government to make concessions on its nuclear program and to seek a solution to reduce tensions with the international community.”
The complete article can be found here.