Iran's Persian rug-makers suffer as US unravels nuclear deal
- Economy
- AP
- Published Date: 12:00 | 20 December 2018
- Modified Date: 10:28 | 20 December 2018
As the Trump administration works to unravel Iran's 2015 nuclear deal with word powers, the producers of the country's famed Persian carpets fear they will lose vital markets.
Before the U.S. withdrew from the deal and began restoring crippling sanctions earlier this year, the $425 million a year industry preserved an ancient tradition while providing much-needed income to Iranians as well as Afghan refugees, who create much of the more luxurious hand-woven pieces.
Despite the decades of mutual hostility stemming from the 1979 Islamic Revolution, the United States is one of the biggest markets for Persian rugs, accounting for more than a quarter of all exports. But that is set to change as the U.S. imposes what it says are the toughest sanctions in history.