Rising oil prices buy Iran time in nuclear talks

Despite a recent rise in Iran’s oil revenues, U.S. sanctions that have gutted revenues and dramatically worsened economic hardships for ordinary people continue to have a major impact on daily life, stirring discontent.

Iranians from the business elite to lower-income families face soaring inflation, a sinking currency and rising unemployment.

The official inflation rate is around 40% while some people estimate it at over 50%. Almost half of Iran’s 82 million population are now below the poverty line. Unofficial estimates suggest unemployment is well above the official rate of 11%.