Description:
<jats:p>The paper examines the impact of the sanctions crisis on oil-exporting economies, using the case of Iran in 2011-2022. It describes effects of the two rounds of collective sanctions — before the conclusion and after the termination of the nuclear deal, as well as in the interim period of lifting the oil embargo. The authors typologize priorities of the Iranian doctrine of “resistance economy” and review its macroeconomic outcomes. They show that despite the successful evasion of sanctions, the development of ties with alternative partners and some advances in diversification, the Iranian economy continues to lose budget revenues and remains unstable, experiencing periodic recessions, devaluations and high inflation. Within the Iranian context, the authors highlight the problem of unbalanced growth under the sanctions stress, as well as vulnerabilities in the growth-supporting strategy based on fiscal stimulus — the issues that hold relevance for Russia.</jats:p>