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Tipsheet

Power Move: Brexit and Trump are Crushing Iran's Economy

Even after Barack Obama decided to lift financial sanctions on Iran in January, the Islamic country is still having a hard time participating in the global economy.  

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Recent events around the world, such as Great Britain's vote to leave the European Union and the rise of Republican nominee Donald Trump, have crippled Western governments from sealing long term financial contracts with Iran.

"Iran will continue to work with small banks, institutions as long as major European banks are reluctant to return to Iran," a senior Iranian official said.

"Fear over Brexit's financial consequences have made Britain and other European countries more careful over their interaction with Iran. Most of them have adopted the policy of watch and see," another senior Iranian official told Reuters.

"The British banks and authorities have a very big problem to deal with and since the vote, they have been less eager about Iran and I can even say almost not interested. Of course, we believe we can still work with British banks and have told them so."

It seems as though Donald Trump and the American people are putting world banks on hold until the night of November 8 when we will all know our fate.  

With Trump's rise and the decision of the British to distance themselves from countries such as Iran who have fundamentally different values, it is no wonder why this election may be one of the most important of all time.  

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