Lifting Iran’s sanctions can negatively impact Canadian Economy

The lifting of sanctions against Iran could have a negative trickle-down effect on the Canadian economy.

University of Calgary Assistant Professor of Law and Business, James Coleman tells 660 NEWS, oil prices will likely fall further because Iran will be ramping up production.

“And that will probably have a similar effect on the loonie, obviously some of this has been priced in already because we’ve seen this deal coming for months now. But there will be a continuing pressure, and some of that will depend on how quickly Iran is able ramp back up its production,” explained Coleman.

Right now Iran is pumping about a million barrels a day below what it was before the sanctions were imposed.

Coleman doesn’t think the loonie will drop much further, unless there’s a major new development on the world economic front.

Top Stories

Top Stories

Most Watched Today