Iran’s nuclear program has cost the Islamic Republic some $40 billion over the last 20 years, but Western sanctions levied in response have reportedly cost it more than triple that sum.
Iran has “lost $130 billion because of sanctions put in place since 2012,” according to Israeli security sources quoted by the AFP news agency. Losses in the oil sector alone account for $105 billion, the sources said, and the rest came from the “banking, trade and industry, development and investment” sectors.
The total cost of Iran’s nuclear program, including damage from sanctions, therefore stands at some $170 billion, according to the report.
In Geneva over the weekend, negotiations between Iran and Western powers failed to produce a deal that would ease sanctions in return for Iran temporarily freezing its nuclear program, leading to a high-profile diplomatic spat between Israel and the United States over the direction the talks have taken.
Help us report truthfully on social media
As a multimedia journalist, my job is to take the quality, fact-based journalism produced by The Times of Israel newsroom and make it accessible across every platform — from Instagram posts to podcasts to short-form videos.
This is how many, especially young people, consume news these days. But misinformation is rampant on social media. Our team at ToI produces accurate, responsible short-form reporting on Israel and the Jewish world.
If you believe in the importance of factual social media journalism, please consider joining our reader support group, The Times of Israel Community. Your financial support is essential to sustain responsible multimedia reporting.
— Gabriella Jacobs, multimedia journalist
Support our work
Support our work
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
Add ToI as a Preferred Source on Google
