Tehran Stock Exchange Affected by the New Round of U.S. Sanctions
A few days ago, the U.S. senate passed a new bill which enables government to impose additional economic embargoes on Iran. In recent months, Iranian and American officials have failed to reach an agreement over Islamic Republic’s nuclear case.
The main index of Tehran Stock Exchange (TSE) reached a new record of 52,244 units on Monday. However the recent announcement of U.S. senate reduced the main index by two percent. Iranian investors are currently worried about the future of TSE.
Ali Amoli Hassan Zadeh, an Iranian economist, believes that the new round of sanctions imposed by U.S. government will affect almost all sectors in Iran. “If the U.S. government continues these sanctions, we can observe the negative effects in long-term. Iranian petrochemical industries will be damaged badly while other corporations will also lose their values in domestic markets.”
Yesterday, the value of Iranian giant petrochemical companies decreased in Tehran Stock Exchange. Hassan Zadeh says this is the clear sign of further damages. “Iranian officials must take these sanctions seriously. In my opinion, Iran and United States must settle all disputes, differences, claims, counterclaims relating to the nuclear case as soon as possible. The current unfair embargoes are destroying the economy of Iran and they should be removed.”
The new president of Islamic Republic, Hassan Rowhani, is expected to start peaceful negotiations with the United States. The reformist politician had promised to take ‘softer’ policy toward Americans to address the current disputes. Israel, European Union and the United States have accused Iran of developing nuclear weapons.