Sanctions Cost $100 Billion in Oil Revenues

Secretary of Expediency Council Mohsen Rezaie said today that sanctions over the past three years caused $100 billion damage to Iranian oil revenues. He added that oil prices at $50 per barrel would cause another $100 billion loss in revenues over the next three years.

Rezaie made the comments in a groundbreaking ceremony for a petrochemical complex in Masjed Soleiman, Khuzestan, which will be built by the Chinese. (IRNA, 11 January)

File photo: Iran's oil export terminal at Kharq Island (Getty Images)