The current US policy has clearly affected the Iranian economy, mainly by cutting its oil exports and discouraging foreign investment in the country, to the point where the currency has plummeted, unemployment has soared, and poverty is a fact of life for the majority of people in the country.
The US had hoped that this would cause the Iranian Regime to direct the vast wealth they have away from funding proxy militias across the Middle East or nuclear weapons development and into protecting the Iranian people, especially in light of the nationwide anti-regime protests that have dominated this year.
But the Regime has failed to increase jobs, lower inflation, or even just provide basic care. Now inflation is roughly 35% according to the Regime and over 240% according to outside experts, with the prices of some basic goods increasing by 400%. The deficit is rising and shows no sign of stopping. Even worse for the Regime, there’s no saviour coming to help.
Sure, the US has granted temporary sanctions waivers to eight countries, but that is just to stabilise the oil market for the next six months, in order to punish the Regime without hurting US allies. However, the Regime has been forced to slash their prices as well as taking on board the transport and insurance for these shipments themselves – the waivers did not extend to shipping or insurance companies – so they are not making a lot of profit there.
The efforts by the EU to create a “Special Purpose Vehicle” to maintain trade with Iran are dead in the water. There are huge technical problems with the plan, and it still violates US sanctions, so any move ahead with it must be met with force by the US.
The Iranian Regime has claimed that the Iranian people are suffering under the US sanctions, but truthfully, the people were suffering long before the sanctions came into play because of the rule of the mullahs.
The Iranian people want these sanctions. They know they are the only hope to get rid of the mullahs. The US and the rest of the word must support the Iranian people.