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FinancialNews


  • 08-11-20

    Over half of Iran's exports sent to 15 surrounding nations

    (MENAFN) Iran is eager to boost exports of non-oil products by curbing U.S. sanctions on its oil exports, and has defined a variety of procedures to achieve this target.

    According to Mohammad-Baqer Nobakht, head of the Iranian Planning and Budget Organization (PBO), the country has been deprived of approximately USD 50 billion a year in revenue from oil sales and that loss should be offset by non-oil exports.

    Previously in 2019, Nobakht said "Based on the targets set, we (have to) bring the non-oil exports to USD 48 billion from the USD 24-billion that we currently have."


    While one of the major plans pursued by the Iranian government is to increase non-oil exports, neighboring countries are highlighted as some of the major export destinations.

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