Iran sanctions in flux
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As the West piles the pressure on Iran to negotiate a new nuclear deal that would see its uranium enrichment curbed in exchange for the lifting of sanctions, Tehran has also been cozying up to its ally Russia. Last Friday, Russia agreed to supply Iran with 55 billion cubic meters of natural gas annually and finance the construction of a new nuclear power plant there.
Meanwhile, against the backdrop of a global trade war, the International Monetary Fund’s forecasts for the Middle East and North Africa were revised down from 3.5% to 2.6%.
