Iran

Sanctions Take Heavy Toll on Iran

Spilling over into agricultural goods

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Iran is paying millions of dollars in higher costs for vital imports of agricultural commodities, including wheat, as the impact of the European and US oil sanctions spills over into sections of the Iranian economy.

The extra costs, which traders in Geneva, Dubai and Tehran estimate at between 5 and 10 per cent above prevailing prices in the international market, are putting further pressure on the country's finances.