Report: Iran suffering power shortages due to outdated grid

Despite possessing one of the world's largest reserves of oil and gas, Iran's manufacturers have been suffering repeated halts and energy deficits this and in past summers, according to Iran International.

Rather than modernize their outdated energy grid and power plants, the Iranian government has reportedly insisted on a variety of energy rationing and cost-cutting measures, none of which have alleviated the energy-hungry industries' need for fuel.

This issue is likely to be a major headache for Iran's new President who seeks to help the Iranian economy recover while still subject to American sanctions.