Iranian President Hassan Rouhani announced on Sunday that his country borrows five billion dollars (more than 4.5 billion euros) from Russia to arm itself against the latest sanctions by the United States.
In total, Iran is releasing more than 35 billion euros to become less dependent on oil exports, which is enormously important for the economy. With the new sanctions, the US is trying to deter countries and companies from buying oil from Iran or trading with the country. Now, for example, government bonds must partly offset the loss.
The British newspaper The Guardian writes that with its budget change, Iran assumes that it will continue to sell half a million to a million oil barrels per day. Analysts think that the country loses a maximum of 400,000 barrels per day. For the sanctions that were 2.5 million.
According to the International Monetary Fund (IMF), the Arab country must triple the price of oil to compensate for the loss of exports, because the sale would have collapsed. Currently the price per barrel is around $ 64, that should be at least $ 194.6.
When Iran's major Ayatollah Ali Khamenei expressed his support for higher fuel prices in mid-November, this led to major protests throughout the country. They often ended in violence.