President Hassan Rouhani said on Wednesday that the Iranian economy is being managed by non-oil exports, which he said is “unprecedented” in the past several decades.
“We are managing the country with non-oil export. This is a very important issue. It is unprecedented in the history of Iran. Neither before the (1979) Revolution and nor after the Revolution,” Rouhani said during a cabinet meeting.
He added, “This year only 10% of the budget relies on oil.”
Iran’s current year started on March 20, 2020.
The president went on to say that in certain years, when the oil price was high, Iran’s oil income reached about 100 billion dollars. He said even in 2011 Iran’s oil income hit 102 billion dollars.
“Our dear people should know this reality that once in a year 100 billion dollars of oil money were deposited in the treasury… today there is no such 100 billion dollars and this is an honor for the government to say that is managing its trade” with the least reliance on oil, Rouhani stated.
The Trump administration, which unilaterally withdrew from the 2015 nuclear deal in May 2018, has imposed a total oil embargo against Iran in violation of international law.
Before the sanctions, Iran was the third largest oil producer within OPEC.
Elsewhere in his remarks, Rouhani said the current “tyrannical White House” and “cruel” sanctions are not permanent.
“We have stood against the sanctions which will come to an end. If anyone in Iran thinks that this tyrannical administration of the White House and the cruel sanctions are permanent, they are mistaken, because both tyrants in the White House and the sanctions will not last forever,” the president stated.
He added, “Sanctions will fall apart… We made them understand that they have made a mistake through our resistance and the White House has fully understood that they were wrong, but they were helpless in the way they took, and it is difficult for them to find a way out.”
‘Snapback mechanism is doomed to failure’
Elsewhere, Rouhani said that the U.S. attempt to trigger snapback mechanism is doomed to failure.
He noted that the U.S. is not a party to the 2015 nuclear deal anymore and all sides have condemned Washington’s attempt to try resort to such a ploy.
“The world is aware what will happen if the United States takes step in this dead-end path. They themselves have burned the bridge and imagine that there is still a bridge for them to cross,” the president remarked.
After a defeat at the UN Security Council on Friday to extend arms embargo on Iran which expires in October, U.S. President Donald Trump’s administration plans to use the snapback provision, even though it quit the deal in 2018 and the move is opposed by the remaining parties to the accord – Germany, Britain, France, Russia, China and Iran.
Only the Dominican Republic voted in favor of the U.S. draft resolution to extend arms embargo against Iran. 11 other countries, including Europeans, abstained. China and Russia opposed.
Rouhani thanked all the 11 countries, especially Russia and China, which did not vote for the resolution.
The Security Council has 15 members. The five permanent members (China, France, Russian Federation, the United Kingdom, and the United States) and 10 non-permanent members.
The current non-permanent members are Belgium, Dominican Republic, Estonia, Germany, Indonesia, Niger, Saint Vincent and the Grenadines, South Africa, Tunisia and Vietnam.