Bahrain- Iran to allocate 1% of its sovereign wealth fund to cap its economic losses

Manama- Bahrain  15/09/2020 

Iran seeks to allocate 1% of its sovereign wealth fund to support the county’s stock exchange market to countervail the newly hefty losses. Experts indicated that Iran’s economy is in the state of collapsing in light of US imposed sanctions. Spending from the sovereign wealth fund will sap the county’s ability to extend its leverage and weaken affiliates including Hezbollah and Houthis. Therefore, analysts demanded the international organizations to extend arms embargo in an attempt to secure stability in the Middle East. They also clarified that Iran is concerned with its doctrine which entails extending its leverage with no scant regard to the people’s will.