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World Business Report: First broadcast 2018/08/06 00:06 GMT: US Prepares To Reimpose Iran Sanctions

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US Prepares To Reimpose Iran Sanctions

First broadcast 2018/08/06 00:06 GMT

First broadcast 2018/08/06 00:06 GMT: US Prepares To Reimpose Iran Sanctions

BBC World Service - World Business Report, US Prepares To Reimpose Iran Sanctions

Former Iranian central bank deputy governor arrested hours before sanctions re-imposed.

The US sanctions on Iran that go back into effect on Monday cover Iranian trade in automobiles and metals, including gold. The U.S. also has banned imports of Iranian products such as carpets and pistachios and revoked licenses that allowed Iran to purchase U.S. and European aircraft. Mehrdad Emadi, Iranian economist and consultant, explains what impact the threat of sanctions has already had on the Iranian economy and people's daily life.

The Trump administration has announced plans to reverse another flagship Obama policy - stricter fuel-efficiency requirements for cars. President Trump argues that the rule is encouraging consumers to use older cars, at the expense of safety and of the environment. Professor James Stock, economist at Harvard University and a former adviser to President Obama, says President Trump's analysis is wrong.

The Irish budget airline, Ryanair, is facing another difficult week, with hundreds of pilots across Europe planning further strikes for Friday. Pilots are demanding better pay and conditions. Independent travel consultant Andrew Solum gives us his take.

Plus we hear about the impact on tourism in Nicaragua following the government's crackdown on protests in the country. And Rahul Tandon explores India's reliance on the messaging service Whatsapp.

(Photo: a newspaper with a picture of US president Donald Trump on the front page, in the capital Tehran. Credit: Getty Images.)

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