Home > Uncategorized > Iran Conditions Becoming Increasingly Desperate – Business Insider

Iran Conditions Becoming Increasingly Desperate – Business Insider

October 14, 2012 Leave a comment Go to comments

More worrisome signs are emerging of deteriorating economic conditions in Iran. Here are some of the latest news quotes:

1. Crude output is slowing.

NYT: – Daily oil production in Iran, the most important component of its economy, fell in September to the weakest level in nearly a quarter-century, according to monthly data released on Friday by the International Energy Agency. The agency forecast declines in Iran’s ability to produce oil for years to come if Western sanctions were not lifted

2. Trade in general has come under severe pressure. This is likely having a terrible impact on the population, particularly the poor.

Reuters: – Data from maritime intelligence publisher IHS Fairplay showed the overall number of vessels calling at Iranian ports in the year to early October was 980. That figure for more than three quarters of this year compares with 2,740 ships for the whole of 2011 and 3,407 for 2010.

Of that total, the number of visits by container ships – which carry consumer goods ranging from foodstuffs and household items to clothing and toys – was 86 so far this year, compared with 273 for the whole of 2011 and 378 in 2010.

Only eight refrigerated cargo vessels carrying fresh produce including bananas called at Iranian ports so far this year, down from 16 in 2011 and 36 in 2010, the IHS Fairplay data showed. Even fishing trawlers unloading their catch have slumped to five from 14 last year and 20 in 2010.

3. We are beginning to see the first signs of social unrest. But given the brutality with which the authorities are likely to respond, the protests have been largely subdued.

The Telegraph: – Economic hardship has triggered the first street protests in Iran for three years as Tehran struggles to cope with UN, US and EU measures imposed to punish the country for violating resolutions restricting its nuclear programme. Western officials believe that sanctions have put the regime under pressure. “There has been a wider effect on the economy and that affects people and businesses.”

In a rare public concession that the regime was struggling with the sanctions, Ayatollah Khamenei decried the measures this week. “These sanctions are barbaric,” he said. “This is a war against a nation. But the Iranian nation will defeat them.”

4. Foreign firms are exiting Iran to avoid losing business with Western nations.

Reuters: – Iran has faced an exodus of international companies providing marine-related services including certification of its fleet, which is vital for securing insurance and ports access. Earlier this year, sanctions pressure also led to the near collapse of an Iranian-led shipping venture with an Indian firm.

5. Auto production is declining sharply.

via Iran Conditions Becoming Increasingly Desperate – Business Insider.

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