Could a weakening Iranian economy, suffering from mismanagement and international sanctions, deter Iran from going nuclear? It’s too soon to tell. But there are some positive signs.
Iranian President Mahmoud Ahmadinejad was slammed by his peers for mishandling his country’s economy. Iranian Inflation could exceed 20%, while the cost of basic commodities continue to skyrocket.
Ahmadinejad made “many bad decisions, notably acceleration in spending oil income,” said Majles member Ahmad Tavakoli, according to the AFP.
As analyst Gal Luft notes, Iran’s oil economy is its achilles heel. Undersecretary of the Treasury Stuart Levey has been seeking other pressure points to weaken the Iranian economy via the international financial system. Sanctions at the state level here in the U.S. can also be a pressure point on the Iranian regime.