Iran’s President Hassan Rouhani announced a “budget of resistance” to U.S. sanctions, including a $5-billion loan from Russia. Reuters quoted Rouhani as saying the budget would reduce Iran’s dependence on oil revenues to defy the effects of U.S. sanctions. “This is a budget to resist sanctions … with the least possible dependence on oil,” Rouhani said. This budget announces to the world that despite sanctions we can manage the country.” The total size of the 2020/2021 budget is equal to almost $39 billion and is 10 percent higher than this year’s budget, Reuters noted, adding that it was lower in dollar terms because of a 35-percent rate of inflation booked for the current year. “We know that under the situation of sanctions and pressure, people are in hardship. We know people’s purchasing power has declined,” Rouhani said as quoted by AFP. To this end, he said, the Iranian budget […]