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U.S. Trade With Iran Comes To A Halt After Sanctions


People look at carpets displayed at the Iran section of the Baghdad International Fair, in Baghdad, Iraq November 10, 2018. File photo

The United States Census Bureau said on Thursday that U.S. exports to Iran in the first quarter of 2019 show 55% drop compared with the same period in the previous year.

The U.S. total exports to Iran in the first quarter of 2019 amounted to $14.6 million, the Census Bureau reported, adding that U.S. imports from Iran in the same period also shows a 26 fold decrease, standing to only at half a million dollar.

Iran's monthly exports to the U.S., since September, a month after the implementation of Washington's first batch of sanctions on the Islamic Republic, were either zero or quite minimal.

Before the reimposed sanctions, Iran used to export on average five to six million dollars of goods to the U.S., every month.

The U.S. exported more than $440 million of goods to Iran last year which was three times more than the previous year (2017). The reason behind the increase was soaring U.S. exports to Iran in July and August, immediately before the implementation of Washington's sanctions on Tehran.

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