Iran’s currency crumbling under Western sanctions, but U.S. exports to Islamic Republic are on the rise

Originally posted on National Post | News:

WASHINGTON — U.S. exports to Iran rose by nearly a third this year, chiefly because of grain sales, according to U.S. data released last week, despite the tightening of U.S. financial sanctions.

The jump to $199.5-million in the first eight months of 2012 from $150.8-million a year earlier, according to Census Bureau data, is surprising given Western efforts to isolate Iran economically because of its suspected pursuit of nuclear arms.

The increase masks a drop in the export of some humanitarian goods such as medicines, a decline U.S. exporters blame largely on the difficulty of getting paid by Iranian importers because of new U.S. financial sanctions.

But it also shows that goods such as milk products and medical equipment — whose sale to Iran is allowed with a Treasury Department export license — continue to flow despite the sanctions and the payments difficulties.

[np-related]

The United States, its European allies…

View original 645 more words

About these ads

About World Chaos News

The purpose of World Chaos News is to bring to light and inform you the reader of the hour in which we find ourselves on planet earth. It is my hope that through World Chaos News answers and meaning to the world events that are taking place will be answered. Hopefully you the reader will then be able to make rational and informed decisions regarding your future, especially their eternal future.
This entry was posted in Iran, U.S.A and tagged , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s