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Iran’s carpet industry is likely to lose a major source of revenue when U.S. sanctions banning the import of the Persian carpets are implemented starting in two days, an Iranian industry expert said.

The export of hand-woven carpets generates about $500 million annually for Iran’s economy, with 20 percent of the total earned in the U.S. market, Ali-Reza Ghaderi, founder and head of the Persian Carpet Think Tank, said today in a phone interview from Tehran.