Raisi, a hard-line conservative cleric, helped escalate military tensions around Europe and the Middle East and oversaw strict enforcement of women’s dress codes.
My assumption is economic in that they will continue to spend as oil and hydrocarbon fuels dependency drops worldwide as it’s replaced with renewables. It seems dogmatic organizations like religions, theocracies, etc tend to do poorly with incremental change, but we’ll see over the next couple decades. 30% of their trade is with China so it largely depends on Chinese markets and how/if they decide to change as the markets change.
My assumption is economic in that they will continue to spend as oil and hydrocarbon fuels dependency drops worldwide as it’s replaced with renewables. It seems dogmatic organizations like religions, theocracies, etc tend to do poorly with incremental change, but we’ll see over the next couple decades. 30% of their trade is with China so it largely depends on Chinese markets and how/if they decide to change as the markets change.