Oil exporting nations to benefit from US sanctions on Tehran

Among the three largest buyers of Middle East fuel, Trump has an advantage with both Japan and India

As part of its Article IV consultations with member countries, the International Monetary Fund (IMF) made it clear to oil exporters last year that their fiscal deficits would worsen and current account surpluses  be in jeopardy. As the US walks back into sanctions on Iran, those countries would heave a sigh of relief. 

Nowhere was the strain more evident than in an IMF staff report on Saudi Arabia for 2017. “Non-oil growth is expected to pick up this year but overall Gross Domestic Product growth will be close to zero, given the decline in oil production.” It went on to