Oil sales, bank woes: Can Iran’s economy survive Trump exit?

Oil sales, bank woes: Can Iran’s economy survive Trump exit?:

"Whatever steps Iranian leaders take after Donald Trump’s decision to withdraw from the nuclear accord, none will be more critical to domestic stability than their efforts to minimise the economic damage.
The currency is plunging, banks are struggling with bad loans and the looming return of broad US sanctions mean European companies, many already on the fence, will likely decide it’s too risky to invest in the Islamic Republic. A significant loss of oil revenues would hit state coffers hard and present a challenge for President Hassan Rouhani, who won two elections promising to end Iran’s isolation and revive its economy.
“The next few months will be very, very hard for the Iranian economy,” said Henry Smith, lead analyst at Control Risks in Dubai. “It’s hard to see it any other way. The saving grace would be if there’s some type of mechanism put together to manage some of the secondary sanctions.”"



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