Iran's Khamenei says oil reliance putting country at mercy of big powers
Iran's dependence on oil revenue is putting the Islamic Republic's economy at the mercy of major powers, Supreme Leader Ayatollah Ali Khamenei said on Wednesday./ With oil losing a quarter of its value since June, President Hassan Rouhani's administration has been scrambling for alternative sources of income. Iran's budget is based on oil priced at around $100 a barrel while Brent crude is currently below $87. Hitting prices is abundant supply as well as concern that slowing economic growth in Europe and China will soften demand. "Running ...
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