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All tagged business
◢ Iran's economy had plenty of problems even before US President Donald Trump decided in May to abandon the 2015 nuclear deal and reimpose "crippling" sanctions. But that move exacerbated a record drop in Iran's currency, down 70 percent in the past year, and prompted an exodus of foreign firms.
◢ The UN's top court Wednesday ordered the United States to lift sanctions on "humanitarian" goods to Iran that President Donald Trump reimposed after pulling out of Tehran's nuclear deal. The International Court of Justice unanimously ruled that Washington "shall remove by means of its choosing any impediments arising from the measures announced on May 8 to the free exportation to Iran of medicines and medical devices, food and agricultural commodities" as well as airplane parts, said judge Abdulqawi Ahmed Yusuf.
◢ While Russia has condemned Washington for its withdrawal from the Iran nuclear deal, Moscow remains less exposed to the economic consequences of US sanctions than Europe and its companies could even benefit from the move. Russia and Iran sought to strengthen their business ties long before the 2015 agreement, despite international sanctions in place.
