
Originally Posted by
MichaelF
Oil prices work in the Ruble's favor, not the Rial's. Added to that is the fact that 75% of the petroleum revenue goes back into the Iranian petrochemical infrastructure, as they are in the midst of a modernization cycle.
All told, the net profit from the petroleum industry (before infrastructure improvements) is <$50Billion, most of the non-infrastructure funds going into subsidies (gasoline and foodstuff, especially).
Just because you have oil in the ground does not mean you are rich. Iran's social and technical problems eat up their resource-based money.