The International Monetary Fund (IMF) said sanctions imposed by the new US administration against Iran are posing a risk to investment and trade with the country.
“Renewed uncertainty regarding sanctions is dampening sentiment,” the IMF’s annual report on Iran’s economy, known as the Article IV review, said on Monday, AFP reported.
It cautioned that the uncertainty surrounding the nuclear deal between Tehran and world powers “and especially relations with the US, could deter investment and trade with Iran and short-circuit the anticipated recovery”.
Potential derailment of the 2015 nuclear deal between Tehran and world powers by the sanctions could move Iran’s economy into recession.
“If the agreement is derailed, the economy could risk recession.”
Iran and the Group 5+1 reached the nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA), in July 2015 and implemented it in January last year.
The report by the IMF was a reference to the new sanctions US President Donald Trump’s administration imposed early this month on Iranian individuals and companies over Iran’s missile program.
(Source: Tasnim, under Creative Commons licence)