Washington Post: Iran Sanctions Choke Medicine Imports

Economists project the latest round of US sanctions on Iran to have detrimental effects on the nation’s healthcare sector, according to the Washington Post. Sanctions on Iranian financial firms “could endanger the flow of humanitarian goods as foreign banks and outside suppliers abandon business ties with their partners in Iran, analysts and experts warn,” reports Erin Cunningham. Moreover, some European banks, fearing penalties, also deny transactions with Iranian firms not on the US sanctions list. As a result, transactions between European and Iranian banks have “dwindled.” A total cessation of transactions with outside banks could spell disaster with shortages of basic goods such as medicine. Meanwhile, the Trump administration argues that the “regime has enough money to invest in its own people” and that the sanctions are in place to pressure Iran to agree on more comprehensive curtailment of its nuclear weapons program. In Iran, people worry about the ability “to continue importing advanced medicine and equipment used to treat chronic illnesses.” In addition, employees in Iran’s pharmaceutical industry report layoffs, salary cuts and exponential increases in imported medicine costs. – YaleGlobal