TEHRAN, Iran — Iran's president said on Sunday his country will depend less on oil revenue next year, in a new budget that is designed to resist crippling U.S. trade embargoes. The U.S. re-imposed sanctions that block Iran from selling its crude oil abroad, following President Trump's decision to withdraw from Tehran's 2015 nuclear deal with world powers. "The budget sends a message to the world that despite the sanctions, we will manage the country," President Hassan Rouhani told the opening session of Parliament. The proposed budget will counter "maximum pressure and sanctions'' by the U.S., he said. But it wasn't immediately clear from Rouhani's speech whether these proposed measures would fully compensate for plummeting oil revenues.

Source: International New York Times December 08, 2019 06:55 UTC