Iran's carpet industry unravelling under US sanctions

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00:00In this Tehran workshop, skilled artisans are putting the finishing touches on an age-old symbol of Persian craftsmanship, the hand-woven carpet.

00:10For centuries, these rugs have been prized around the world, but today, the industry is unraveling.

00:18The global economy is in a chaotic situation.

00:22It's difficult for someone living in a European country to buy a silk carpet for $30,000 to $40,000.

00:28Shipping the carpet is also quite challenging for tourists.

00:32In the 1990s, Persian carpets brought more than $2 billion per year into Iran.

00:38The arrival of U.S. sanctions in the mid-1990s sent that figure plummeting.

00:43By 2017, it was down to $400 million.

00:46In 2018, the U.S. pulled out of the Iran nuclear deal.

00:50Revenue collapsed again to just under $42 million in 2024.

00:54Sanctions, however, aren't the only drag on the sector.

00:59Iran is importing carpets from other countries like India, Turkey and China.

01:04We're losing part of our domestic sales volume due to these imports.

01:09At least 2 million Iranians, many of them women in rural areas, rely on carpet weaving for income, sometimes just a few dollars a day.

01:18Officials insist that the industry can still recover, pledging new trade agreements and better export rules.

01:25But with the collapsing currency and global buyers looking elsewhere, Iran's iconic Persian rug may be left hanging by a thread.

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