Iranian Presidency: Dependence on oil revenues must be zero
22:14 - 11/08/2019
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TEHRAN (Reuters) - Iran's deputy president, Mohammad Baqer Nubakht, called on Sunday to cut the proportion of oil money in national budget revenues.
At the first meeting to record the country's budget for the next Iranian year (beginning March 21, 2020), the official noted that under the country's embargo conditions, the country's revenue from oil exports should be minimized.
He added that the dependence on funds from the sale of oil should be little even in normal circumstances, stressing the need to reduce this credit and get it to zero.
Earlier, Iranian President Hassan Rouhani believed that the impact of US sanctions on his country's economy would have been less had it not been so heavily dependent on oil revenues, pointing to the importance of reforming Iran's economic structure.
Last year, the United States, in a unilateral move, withdrew from the "nuclear deal" with Tehran and reimposed sanctions on the Islamic Republic, including in relation to secondary sanctions (ie, targeting other countries that maintain trade with Tehran). Finished 25 N