Iran is caught in a wretched economic crisis. Jobs are scarce. Prices for food and other necessities are skyrocketing. The economy is rapidly shrinking. Iranians are increasingly disgusted.
Trump administration Sanctions
Crippling sanctions imposed by the Trump administration have severed Iran’s access to international markets, decimating the economy, which is now contracting at an alarming 9.5 percent annual rate, the International Monetary Fund estimated. Oil exports were effectively zero in December, according to Oxford Economics, as the sanctions have prevented sales, even though smugglers have transported unknown volumes.
Intensified Pressure on Iran by the Western government
On Tuesday, pressure intensified as Britain, France and Germany served notice that they would formally trigger negotiations with Iran toward forcing it back into compliance with a 2015 nuclear deal — a step that could ultimately lead to the imposition of United Nations sanctions.
Iran’s bleak economy
The bleak economy appears to be tempering the willingness of Iran to escalate hostilities with the United States, its leaders cognizant that war could profoundly worsen national fortunes. In recent months, public anger over joblessness, economic anxiety and corruption has emerged as a potentially existential threat to Iran’s hard-line regime.
Only a week ago, such sentiments had been redirected by outrage over the Trump administration’s Jan. 3 killing of Iran’s top military commander, Maj. Gen. Qassim Suleimani. But protests flared anew over the weekend in Tehran, and then continued on Monday, after the government’s astonishing admission that it was — despite three days of denial — responsible for shooting down a Ukrainian jetliner.
The demonstrations were most pointedly an expression of contempt for the regime’s cover-up following its downing of the Ukrainian jet, which killed all 176 people on board. But the fury in the streets resonated as a rebuke for broader grievances — diminishing livelihoods, financial anxiety and the sense that the regime is at best impotent in the face of formidable troubles.
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