The price of oil dropped to $31.56 per barrel on Jan. 11, a 12-year low. While the news has been tough on all oil-exporting countries, perhaps no one feels the pressure more than Iran’s President Hassan Rouhani, who is hoping that the February parliamentary elections will bring about a more cooperative parliament in the second half of his presidency.
Many Iranians who voted for Rouhani hoping he would resolve the nuclear crisis and end the country’s international sanctions are still awaiting the implementation of the nuclear deal. Rouhani has previously said the implementation of the deal and the removal of sanctions would take place in January. Mehdi Jahangiri, a member of Iran’s Chamber of Commerce, said Jan. 12 that sanctions on Iran would be removed Jan. 15. He predicted 6% growth rate for Iran’s economy once the sanctions are removed.