Resistance to the oil price plummet
In 2018 Iran took a blow, with the most brutal US sanctions imposed on its oil and economy. But as the corona virus knocks out global markets, Iran seems to be standing because it has gotten used to missing its crude sales and revenues.
As the coronavirus tears through the world, pushing people indoors and bringing transport to a minimum, demand for oil and petrol dwindles. This unexpected blow severely affected the economies of countries that are heavily dependent on oil revenues; especially Saudi Arabia which had increased its productions and has a heavily dependent on oil economy. In the meantime, two key exporters Saudi Arabia and Russia are themselves firing up the game, in competition with America. They have been actively working to lower their prices, to bring US shale to its knees. Although Iran managed to handle the situation of the sever drop in oil price, thanks to US sanctions, that is not to say it is not at all affected.
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