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Iran readies state budget that assumes sanctions will remain in place

Iran's President Ebrahim Raisi (bottom) speaks before parliament to defend his cabinet selection, in the capital Tehran, on August 21, 2021. (Atta Kenare/AFP)
Iran's President Ebrahim Raisi (bottom) speaks before parliament to defend his cabinet selection, in the capital Tehran, on August 21, 2021. (Atta Kenare/AFP)

Iran has proposed a draft budget for its next fiscal year with the assumption that sanctions imposed in 2018 will still be in place, says its planning and budget organization.

A 2015 nuclear deal between Tehran and world powers granted the Islamic Republic sanctions relief in return for curbs on its nuclear program. But the US unilaterally pulled out in 2018 and began reimposing measures, prompting Iran to begin rolling back its nuclear commitments in retaliation.

The draft budget for the Iranian fiscal year starting March 21, 2022, “has been balanced assuming the continuation of sanctions,” says Massud Mirkazemi, head of the budgetary body.

The budget will not be tied to the results of negotiations over Iran’s nuclear program which resumed in Vienna this week, he says. The draft budget will be presented to parliament on December 6.

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