Iran Admits Western Sanctions Are Inflicting Damage

[gambit]

Our rise was inevitable considering the demographics.

If it was inevitable, it was because Deng was wise enough to recognize that China could not have done it without outside help.

America helped to speed up the process. As usual, America shoots herself in the foot.

This sort of 20/20 hindsight glee is what make you Chinese boys laughable.

 

[Chinese-Dragon]

If it was inevitable, it was because Deng was wise enough to recognize that China could not have done it without outside help.

This sort of 20/20 hindsight glee is what make you Chinese boys laughable.

Hahaha, maybe you don't understand the definition of "hindsight".

It is still continuing today. Hundreds of billions of dollars are flowing from America into China every year. And the US Treasury still refuses to officially label China as a currency manipulator, despite American citizens losing their jobs.

US Treasury says China is not manipulating currency - Financial Times

 

[gambit]

Hahaha, maybe you don't understand the definition of "hindsight".

Better than you do. And that is why you made that colossal blunder of claiming that sanctions forced China to be more self reliant and history completely debunked you.

 

[IranZamin]

I personally believe that sanctions in the future will even be placed on Irans civilian sector, such as ban on importing medicine,food into Iran (similarto the sanctions placed on Iraq in the mid 90's). But that will not stop us, we just have to get more and more self reliant

 

[Chinese-Dragon]

Better than you do. And that is why you made that colossal blunder of claiming that sanctions forced China to be more self reliant and history completely debunked you.

You haven't debunked anything. Of course sanctions will force a country to become more self-reliant, since you are limiting their options for legitimately buying technology from other countries.

And you also conveniently avoided answering my post. Can you reply to it?

Hahaha, maybe you don't understand the definition of "hindsight".

It is still continuing today. Hundreds of billions of dollars are flowing from America into China every year. And the US Treasury still refuses to officially label China as a currency manipulator, despite American citizens losing their jobs.

US Treasury says China is not manipulating currency - Financial Times

 

[Zabaniyah]

An American source?

 

[yahya07]

this yahya dude doesn't get it
economy collapsing? This isn't Ethiopia buddy.
We've had 15 years of growth without recession and our economy will double by 2016. We're already high middle income country with a trillion dollar GDP (PPP).

the sanctions are simply a hurdle that are stopping us from becoming an economic powerhouse. But even with the sanctions we're still part of the N-11.

lol this is not what reality says. I can talk about unemployment, inflation, foreign investment, growth -- Iran is doing terrible by all these measures. Being labelled as part of the "next eleven" emerging economies just means there's a potential for growth -- Iran's leaders aren't doing anything particularly productive.

 

[SinoChallenger]

As long as China stands with Iran economically and Pakistan stands with Iran strategically, sanctions will not bend Iran.

 

[Al Bhatti]

December 22, 2011

Sanctions bite Iranian economy as currency loses value

Currency drops 50% against dollar on high inflation and financing restrictions

International sanctions imposed on Iran over its nuclear programme, coupled with high inflation, have pushed the Iranian rial to its lowest level against the dollar and sparked panic selling of the currency.

Economic sanctions have made it difficult for Iranian banks to do business with their western counterparts as transferring cash in and out of Iran is a difficult proposition. This has had a negative impact on the exchange rate of the rial.

On Tuesday, the exchange rate was 15,300 rials per dollar in the free market, from around 13,400 rials last week. The rial has lost over 50 per cent of its value against the dollar in the past few months.

Cautious approach

A number of UAE-based banks told Gulf News yesterday that they have grown more cautious in their dealings with Iranian-owned businesses and with regard to financing imports and exports in the context of the sanctions.

"We strictly follow the Central Bank's instructions on financing Iranian entities and businesses, but some institutions implement additional restrictions as a matter of caution," said the treasury head of a leading local bank.

Some banks said they continue to finance businesses owned by Iranians in the UAE. "These businesses are legally recognised entities and have their assets in the UAE. If they have their accounts properly audited locally and if their balance sheets are in order we finance them," said a manager with a local bank.

The UAE is one of Iran's biggest trading partners and the biggest source of commodities that are essential to support its economy.

Despite various rounds of sanctions, trade between the two countries has thrived for many years. But Hamid Reza, Chairman of the Iranian Business Council in Dubai, said Iran's growing international isolation has made things difficult.

"Trade between Iran and Dubai, a key source of imports for the Islamic Republic, is being squeezed due to sanctions over Iran's nuclear programme," Reza said. "I can't estimate the loss in value of trade."

"Iranian businessmen facing serious obstacles in trade feel unfairly targeted by the West," he added.

gulfnews : Sanctions bite Iranian economy as currency loses value

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There was also in news today that one Iranian Businessman in Dubai has been admitted to hospital couple of days back following a cardiac arrest after he found that he lost 100 million UAE Dirhams due to the fall in the Iranian currency.