Iranian Economy Struggles but WMD Programs Advance
Iran’s Minister of Petroleum, Rostam Ghasemi (c), attends the opening session of the 160th meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna on December 14, 2011. Europe is likely to soon ban the import of Iranian oil. (DIETER NAGL/AFP/Getty Images)
December 27, 2011
| Security
| Middle East and North Africa
Iran’s economy is being ravaged by inflation and increasing isolation from the global economy, but progress on its nuclear and missile programs continues unabated. The sanctions imposed by the United States and Europe, it’s clear, are not having their desired effect.In just the last two months, the Iranian currency has lost half its value, and the government is now being forced to phase out subsidies for fuel and other staples. Sanctions imposed by the United Nations, United States and the European Union are a contributing factor, but probably no more so than the disastrous policies of the theocratic regime.
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