Sanctions against Iran cost the U.S. as much as $175.3 billion in lost export opportunities over 18 years, according to a new report from the National Iranian American Council.

Losing out on selling to Iran has cost the U.S. an average of between 51,043 and 66,436 jobs for every year between 1995 and 2012, according to the study from NIAC, a critic of U.S. sanctions policy that represents Iranian American before lawmakers. The study, released exclusively to the Wall Street Journal, calculated the losses based on how much trade...