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FinancialNews


  • 26-12-20

    U.S. sanctions create major problems for Iranian economy

    (MENAFN)The U.S. sanctions have formed major problems for the Iranian economy in many areas, for one particular industry they have been certainly "a blessing in disguise", and that is the home appliance sector. The home appliance industry has improved with the U.S. sanctions pushing foreign competitors out of the domestic market.

    Following the re-imposition of the U.S. sanctions, most of the main international home appliance manufacturers " mainly Asian brands " that were enjoying Iran"s 80-million markets unexpectedly gave in to the U.S. pressures and abandoned Iran.

    A number of the stated brands like Samsung and LG had been there in the Iranian market since their very beginning and it can be said that Iran was their initiate pad into the global markets.

    MENAFN26122020000045011369ID1101341259

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