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Iran loosens import restrictions on foreign cars and iPhones, trying to mask its economic woes

10 February 2025
in World
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Iran loosens import restrictions on foreign cars and iPhones, trying to mask its economic woes
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Amirhossein Azizi, an architecture student in Tehran, purchased the latest iPhone for his 19th birthday, costing him 1.6 billion rials ($1,880) plus additional fees. Iran lifted import bans on expensive goods to boost its economy, generating tax revenues and benefiting the wealthy elite. The decision to allow high-end imports like iPhones and restrict foreign car imports has had mixed effects on Iran’s economy and its citizens, with sanctions and currency devaluation causing financial hardship for many.

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Tags: 118679628ArticleBusinessCarsEconomicEconomyforeignGeneral newsimportiPhonesIranisrael-hamas warloosensmaskProduction facilitiesRestrictionswoesWorld news
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