With Iran, How Hard Do Sanctions Really Bite?

Sanctions on the Iranian financial sector appear to be taking their toll. Planned oil embargoes by the European Union could be seen as largely symbolic moves by opponents of the Islamic republic, though it’s the pressure on Tehran's finances that appear to be striking the biggest blow. With Friday elections pushing the country closer to the ultra-conservative clerical regime, Tehran may find itself more isolated than ever. On the other hand, savvy political maneuvering could save the day and the country will continue to move its oil to market…

Read more...