October 25, 2024
Hossein Selahvarzi, the former head of Iran’s Chamber of Commerce, says sanctions have cost Iran’s economy about $1.2 trillion since 2011. He gave his astounding figure to the daily Sharq June 24, although the newspaper didn’t explain how Selahvarzi had come up with his numbers. Selahvarzi also estimated that the per capita income lost by each Iranian due to sanctions over the 12-year period amounted to $1,202 annually.
Selahvarzi said his estimates were based on comparisons with “several countries similar to Iran.” The previous day, former President Hassan Rohani said Iran incurred an annual loss of some $100 billion over the past three years due to sanctions that forced the country to sell limited amounts of oil and petrochemicals at discounted rates. Rouhani accused the late President Ebrahim Raisi’s government of “betraying” the Iranian people by causing $300 billion in damage over the course of three years.
Selahvarzi also commented on Iran’s non-oil exports, saying: “The non-oil trade balance turned negative last year, and exports declined.” He added that “both exports and imports were significantly impacted by sanctions.” Meanwhile, Alireza Soltani, a political economist, told the conservative Khabar Online website June 24 that the main foreign policy challenges the next president will face include TehranWashington relations, Iran’s nuclear program, and relations with international institutions and regulatory mechanisms, particularly the Financial Action Task Force (FATF), which has blacklisted Iran for its financial practices, and the World Trade Organization (WTO), which Iran says it wants to join but for which it has taken no action.
“Any incoming administration must strive to address the challenges in US-Iran relations,” he said. “Resolving this conflict can pave the way for improved relations with Europe and many regional countries. Iran has lost numerous regional and international opportunities, both political and economic, due to its strained relations with the US.
This includes economic cooperation with neighboring countries and relations with major powers like China and Russia, which have resulted in imbalanced and often unfavorable arrangements for Iran. Reducing tensions with Israel also hinges on resolving this issue.” According to Soltani, Iran’s nuclear program has imposed “heavy economic and security costs on the country.” He said the
