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Wednesday 11 March 2015

Would Further Economic Sanctions Against Iran Ever Stop Its Nuclear Weapons Development?

My short answer is YES but it will all depend on a number of factors including but not limited to the intensity of those sanctions.

So far, the new sanctions are wreaking havoc on the Iranian economy, which relies on oil exports for about 8% of its public revenue. But while the economic impact of sanctions is becoming apparent, the political impacts have not yet crystallized.

One of the most pressing problems in Iran today is inflation. Inflation is not a new problem in Iran, due in part to sanctions in recent years that have resulted in disrupted supply chains and higher operating costs. But spiraling inflation is being felt by ordinary Iranians like never before.

Recently, Iran’s Central Bank reported inflation to be at 22.2 percent, although economists say this figure is grossly underestimated. In one week alone, the price of chicken rose 30% and the price of vegetable almost 100%. Prices are unstable, budgets are being stretched thinner and thinner, and people are seeing the value of their savings quickly disappear.

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