By Micah Halpern
I've Been Thinking:
Sanctions against Iran often focus on oil.
But one of the most famous industries in Iran will be totally eviscerated by the new US sanctions. The carpet industry!
Iran's carpet industry, their famous Persian carpets, will lose hundreds of millions of dollars, as much as half a billion dollars, because of US sanctions.
The Iranian carpet industry employs hundreds of thousands of people.
The industry will continue, but it will hobble along with only a fraction of the workers and it will produce only a fraction of their famous Persian rugs because there will be no market to sell them.
After sanctions were lifted in 2016 under the Obama administration and once the market opened almost all Persian carpets were sold to the United States.
Micah@MicahHalpern.com
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