Middle East & Africa Economic overview

Iran and the EU are taking steps to minimise the impact of the withdrawal of the United States from the Iranian nuclear deal.

Iran’s oil and gas exports could be hit by the US withdrawal unless special measures are implemented. Iran is the biggest producer and consumer of gas in the Middle East and Africa (MEA), and it exports significant amounts of pipeline gas to Turkey. The reintroduced sanctions are targeted at Iran’s energy sector and insurance services as well as its ability to buy US...