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Russia to lose $ 34 bn after Iran returns to oil markets - WB

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Russia to lose $ 34 bn after Iran returns to oil markets - WB

Post by Admin on Tue Aug 11, 2015 5:32 pm

When international sanctions are lifted from Iran, oil-importing countries will gain while oil-exporting will lose. In 2016, the price of a barrel of oil will get down by 10%, says the World Bank report

Due to lower oil prices after the Iran's comeback the US economy will earn additionally $ 74 bn and EU $ 37 bn.

Russia is expected to lose $ 34 bn in oil revenue, with OPEC countries $ 22 bn, WB says.

Sanctions against Iran were imposed in 2012 because of Teheran's nuclear program.

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