Arab Today, arab today iran sanctions to push global economy into recession
Last Updated : GMT 00:16:36
Arab Today, arab today
Arab Today, arab today

New oil shock

Iran sanctions to push global economy into recession

Arab Today, arab today

Arab Today, arab today Iran sanctions to push global economy into recession

The escalating trend of crude prices caused by the Western sanctions against Iran
Washington - Agencies

The escalating trend of crude prices caused by the Western sanctions against Iran The escalating trend of crude prices caused by the Western sanctions against Iran could bring about even a higher risk of recession in the global economy, a report says. In a new report on Sunday, Reuters highlighted the fact that economic embargoes cannot halt Tehran’s nuclear energy program and argued that the sanctions have only “triggered an oil price spike that could trigger a global recession.”
The report pointed to the recent warnings by US President Barack Obama and IMF chief Christine Lagarde that tensions over Iran would sharply raise the crude prices and lead to “an economic shock.”
The report also said that a new oil shock to the already fragile global economy and against the backdrop of the tightening austerity measures by the Western governments and the rising unemployment will dramatically hit the consumers’ confidence and “that would be a blow to businesses, which would also have to cope with higher fuel prices and would likely cut output and jobs.”
According to the article, after the EU’s January decision to ban the imports of the Iranian crude, figures in March showed that the eurozone has slid into greater recession with the private sector activity, indicating an unexpected sharp drop.
Elsewhere in China, the manufacturing activity also fell to a four-month low of 48.1 in March.
Since December 2011, global crude prices have risen by 20 percent, and if Iran, as the world’s third oil exporter, cuts its exports following the enforcement of sanctions, or if Tehran goes ahead with its contingency plan to choke the Persian Gulf’s strategic energy corridor, the Strait of Hormuz, the subsequent price hikes will further aggravate the situation for the West’s beleaguered economies.
The US, Israel and some of their allies accuse Tehran of pursuing military objectives in its nuclear energy program.
The US and the EU have used the pretext to impose international and unilateral sanctions against Iran.
On January 23, EU Foreign Ministers met in Belgium and approved new sanctions against Iran aimed at banning member countries from importing Iranian crude oil and carrying out transactions with its central bank.
The EU’s decision followed the imposition of similar sanctions by Washington on Iranian energy and financial sectors on New Year’s Eve.
Iran refutes the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty and member of International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful use.
 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran sanctions to push global economy into recession Arab Today, arab today iran sanctions to push global economy into recession

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iran sanctions to push global economy into recession Arab Today, arab today iran sanctions to push global economy into recession

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday