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Iran sanctions cost US economy billions, report says

The US debate over Iran’s nuclear program omits discussion of the possible cost of sanctions to the economies of the United States and its allies, according to a new study commissioned by an Iranian American organization.
Empty and disused Islamic Republic of Iran Shipping Lines (IRISL Group) containers are seen at Malta Freeport in the Port of Marsaxlokk outside Valletta February 10, 2012.  The IRISL ships and containers are key parts in an international cat-and-mouse game: Iran's attempt to evade the trade sanctions tightening around it. Washington and European capitals want to stop or slow Iran's nuclear programme. They believe that IRISL, which moves nearly a third of Iran's exports and imports and is central to the coun

The US economy has lost more than $135 billion in export revenues and hundreds of thousands of potential jobs because of stringent economic sanctions against Iran, according to a new report by the National Iranian American Council (NIAC).

The report, “Losing Billions: The Cost of Iran Sanctions to the US Economy,” published July 14, is intended to move the debate in Congress and among the public toward accepting a possible long-term nuclear agreement that would include lifting many sanctions on Iran. It is not, however, clear to what extent US businesses would quickly benefit from a removal of penalties given other restrictions that would likely remain and likely caution about dealing with a country long demonized and penalized by the United States.

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