Iran acknowledges sanctions driving up costs

Iran is under 4 sets of UN Security Council sanctions as well as other penalties by the US and the EU.

Tehran: Iranian officials are
acknowledging that international sanctions imposed on the
country over its nuclear programme have dramatically increased
the cost of living, but they say the penalties will ultimately
prove futile.

Iran is under four sets of UN Security Council
sanctions as well as other penalties by the United States and
the European Union because of its refusal to halt a key aspect
of its nuclear programme.

Commerce Minister Mahdi Ghazanfari said today that if
the sanctions were really having an impact, then the UN would
not have had to impose four sets of penalties.

But Chamber of Commerce President Mohammad Nahavandian
did say the sanctions have driven up the cost of imports by 30
per cent.

PTI