Tehran ¨C Once a symbol of cultural prestige, Iran¡¯s handmade rugs are no longer selling as fast as they once did, as sanctions weigh on an already troubled economy and buyers¡¯ tastes change.
Commanding more than $2 billion in export revenue in its heyday of the early 1990s, the industry now struggles to scrape together around $40 million, marking a dramatic collapse of more than 95%.
The reimposition of sanctions in 2018 meant the age-old craft lost what was traditionally its largest market ¡ª the United States.
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