In a report to the General Assembly today, UN Secretary-General Ban Ki-Moon cautioned that the growing sanctions against Iran are primarily hitting the nation’s civilians, driving up unemployment rates and leaving medicine in short supply for average Iranians.
Iran’s economy has been hit hard by banking and shipping sanctions in particular, as government-linked industries continue to find ways to circumvent the sanctions, but much of the Iranian private economy is on the brink of collapse.
Western officials have been cheering the recent collapse of the Iranian Rial as proof of the impact of the sanctions, and economists are warning that Iran is entering a period of hyper-inflation, leading to protests in the streets.
While the US and EU officials seem to be hoping that the economic crisis in Iran will force Ahmadinejad out of office. Yet the Iranian president, already politically weak because of years of disputes with Ayatollah Khamenei, seems set to be replaced by hardliners, and the economic crisis may only speed that shift.
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