Home News Iran says new budget bucks US oil embargo, uses Russian loan

Iran says new budget bucks US oil embargo, uses Russian loan

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Iran says new budget bucks US oil embargo, uses Russian loanIran’s president said on Sunday his country will depend less on oil revenue next year, in a new budget that is designed to resist crippling U.S. trade embargoes. Iran is in the grips of an economic crisis. The U.S. re-imposed sanctions that block Iran from selling its crude oil abroad, following President Trump’s decision to withdraw from Tehran’s 2015 nuclear deal with world powers.