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 Russia to lose $34 billion, should Iran regain its oil share, - World Bank

Iran's return to oil market will cost the Russian economy $34 billion, while the OPEC states might face a $22 billion loss.

As reported by Censor.NET citing LIGABusinessInform, this is announced in a World Bank's (WB) report.

Oil importing states will benefit from Iranian oil. The US economy will receive additional $74 billion, while the EU economy - $37 billion.

As reported, the WB forecasts a drop in oil price at $10 per barrel next year, should Iran make its full return to the world market.

According to the World Bank's Middle East and Northern Africa Chief Economist Shanta Devarajan, lifting sanctions will increase exports and revive the Iranian economy the same way their tightening back in 2012 led to a sharp decrease in exports of Iranian crude oil and two years of economic recession.

Read more: Russians named most ineffective workers in Europe

Источник: https://en.censor.net.ua/n347363
 
 
 
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