Why it matters:
Iran has pursued strategic measures for positive economic growth and increasingly robust cooperation with various regional and global nations.
The big picture:
Reflecting on the impact of illegal sanctions and the so-called maximum pressure campaign during Donald Trump's first administration, Hemmati noted that it was only natural for the Islamic Republic to adopt diverse strategies to counteract what he described as Washington’s harsh measures. He emphasized that these efforts have led to both economic growth and enhanced collaboration with countries.
What he's saying:
Iran's Economy Minister, Abdolnaser Hemmati acknowledged the difficulties faced during 2018-2020 when oil exports plummeted due to sanctions and compounded by the COVID-19 pandemic, which exacerbated the economic situation. However, he expressed optimism about Iran's proactive planning to mitigate the effects of sanctions. "We have developed various scenarios to implement our economic agenda and are prepared for any situation," he affirmed.
Key Points:
- Iran seeks cooperation against U.S. unilateralism.
- BRICS and D8 are the organizations that Tehran joined to expand its economic opportunities.
- 18 percent increase in non-oil trade, alongside a positive trend in oil exports.
- Tehran maintains close economic, and political ties with neighboring countries.
Go Deeper:
Iran’s Economy Minister Heading to Saudi Arabia for Key Economic Summit
