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October 18, 2012 1:08 pm

Study: Sanctions Hurting Iran’s Economy but not Fulfilling ‘Core’ Objective

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Iran and weapons of mass destruction.

A new nonpartisan study by the Congressional Research Service (CRS) has shown that sanctions are hurting the Iranian economy but not accomplishing their “core strategic objective” of stopping Iran’s path toward obtaining a nuclear weapon.

“There is a consensus that U.S. and U.N. sanctions have not, to date, accomplished their core strategic objective of compelling Iran to verifiably limit its nuclear development to purely peaceful purposes,” the study said.

Iranian Oil exports, which make about 70 percent of its government’s revenues, have declined sharply due to the sanctions from 2.5 million barrels exported per day to only 1 million this month. Other Middle East oil exporting nations such as Saudi Arabia are selling more oil to countries currently boycotting Iranian oil. In addition, blocking Iran from using the international banking system and depleting its foreign exchange reserves has collapsed the value of its coin.

However, while these sanctions are making it more difficult for Iran to obtain some technology needed to continue moving toward nuclear capability, the country is still making progress in that regard. Iran is also “building up its conventional military and missile capabilities, in large part with indigenous skills” and ignoring UN requirements that it cease selling weapons abroad, especially to Syria’s Assad regime, CRS said.

“The CRS conclusions demonstrate the error of Obama administration claims that their Iran policy is working,” Elliott Abrams, former adviser for President George W. Bush, told the Washington Free Beacon. “Sanctions hurt Iran’s economy, but that is not our goal; forcing change in their nuclear program is the goal and sanctions have not achieved it.”

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  • Lawrence kulak

    The Obama Administration’s goal may actually be to allow iran to get nuclear weapons so that Israel will not be able to defend itself against global jihad if and when it happens. this could also be the reason why the US has been courting and covertly assisting the Muslim rebels throughout the Arab spring in Egypt, Libya and Syria. It just got stung in the ass though because Al Queda which is essentially a rogue operation used the opportunity of a sleeping bear (the US) to strike the Libyan Embassy. Al Queda may actually have done Jews a favor by exposing the fact that the Obama Administration felt cock sure that the Embassy was safe with little security. Does that suggest which side Obama is really on? Given the coverup that ensued to prevent people from realizing that the Administration felt too reassured, it should indicate that Obama may actually be trying to play an active part in the Arab Spring. This was originaly suggested when Mubarak was overthrown that the US had a hand in orchestrating it.