Posted on 12/09/2007 7:04:21 PM PST by blam
Sanctions strain Iran's economy, officials say
By Con Coughlin
Last Updated: 2:14am GMT 10/12/2007
Iran's banks are on the brink of collapse and its manufacturing industries facing severe shortages as sanctions bite, according to assessments by Western officials.
Despite recent public statements by President Mahmoud Ahmadinejad that sanctions by America and the UN "are not working", a confidential report submitted to the Iranian parliament said that continued economic isolation was having dire consequences.
The sanctions are designed to increase pressure on Teheran to reach a compromise with the UN over its nuclear enrichment programme.
The country's banking industry is suffering from a boycott by European, Japanese and American banks, Western diplomats said.
The biggest banks will not conduct any transactions with any Iranian clients, meaning that businesses are finding it increasingly difficult to find hard currency.
"There is no doubt that the Iranian regime is now paying the price in economic terms of its defiance of the international community," said a British official working closely with the UN on Iran.
"The sanctions are having a deeply negative effect on the Iranian economy and there is the prospect of more to come."
During recent parliamentary debates on the economy, several opposition politicians openly criticised the government for its handling of the sanctions and the intransigent position it has adopted over negotiations with the UN.
Many of Iran's major manufacturing industries are facing severe difficulties as a crippling shortage of equipment and materials from overseas suppliers has resulted in a dramatic fall in production.
Britain, France and the US are working on a draft UN security council resolution to strengthen the sanctions currently in place.
Not to worry, three virulent anti-Bush surrender monkeys in the State Department are trying their best to help Iran out.
If this is indeed true, we need to ratchet things up a bit to make it even worse for that terrorist outfit running their horrific theocracy in Tehran.
Appears that the sanctions are doing what they are supposed to do.
Perhaps they can convince the Democrats in Congress to write up an Iranian Bank bailout bill.
Pelosi has the Iran Bank Bailout Bill on her desk. Waiting for more leaks to assure its passage.
Will she be wearing her burka when she introduces that bill?
Thanks for the article. I understand from the report I just saw Iran is setting up to be next worldwide Internet scam artists to scam unsuspecting Americans, by specializing in credit card theft and draining American Bank Accounts via the web. Out of the frying pan, and into the fire, Iran goes. Economic Warfare. Southern Africa’s Internet Scam Rings is moving their base of operations to Iran.
No doubt. Those Syrian Photo-Ops were just so snappy.
Nigeria won’t like the competition. :)
According to the report, Nigeria’s group is the group going to Iran to set up shop. Iran invited them in, per the report.
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