Iran-US trade coming to complete halt amid tensions

Financial Tribune – While the US pressures on Iran’s economy has escalated now more than ever by imposing harsh sanctions against the Islamic Republic, commercial exchanges between the two countries is gradually coming to a halt.

This is while trade between the two sides was witnessing an upward trend after the implementation of the landmark nuclear deal, Tehran Chamber of Commerce, Industries, Mines and Agriculture reported.

Figures from the Islamic Republic of Iran Customs Administration show non-oil trade between Iran and the US stood at 1,047 tons worth $4.73 million during the first Iranian month (March 21-April 20), registering a 57.55% and 44.72% decline in tonnage and value respectively compared with last year’s corresponding period.

The US was Iran’s 45th trading partner during the period.