The founder of one of the first Iranian ad agencies to focus on social media has some advice for Russian businesses, now that their country, too, is under international sanctions: You¡¯ll adapt and survive, but it¡¯ll be brutal.
Ahmad Norouzi, chief executive officer of Click, said it took a while to accept that the firm¡¯s clientele of multinationals were gone for good, but that they found domestic replacements soon enough. The catch: annual revenues fell from about $2.3 million before sanctions struck again in 2018, to $285,000 today.
Russia is a Group of 20 member with an economy some seven times that of Iran¡¯s. Even so, as an energy-rich nation of some 84 million people, Iran still offers Russia the closest case study for what may lie ahead under penalties imposed since Moscow¡¯s Feb. 24 invasion of Ukraine.
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