Sanctions have backed fossil-rich Iran into a corner, which could bode well for the country’s renewable sector.Â
The western-led sanctions against Iran have crippled the country’s ability to provide for its 74 million strong population, Reuters reports. Food prices have skyrocketed and many ships holding supplies are waiting for payment before allowing Iran to collect inventory. Meanwhile, sanctions have made conducting financial transactions virtually impossible. While the government’s failure to act could be disastrous for Iranian nationals, one potential upside is that the Energy Minister has recently admitted the importance of beefing up the country’s renewable energy sector.
