Iran’s six-year push to integrate with the global economy appears to be coming to an end. Iran Monday threatened to withdraw from its last remaining commitments to the 2015 deal that limited its nuclear program in exchange for the lifting of international sanctions.
The moves follow a speech by Supreme Leader Ayatollah Ali Khamenei Friday, in which he accused Europe of joining the U.S. campaign to “bring Iran to its knees”. His regime had hoped the so-called EU-3 — Britain, France and Germany — would help Iran to circumvent U.S. President Donald Trump’s return to “maximum pressure” sanctions by upholding the nuclear deal.
In many ways, the surprise is that Iran’s economy has survived as well as it has.
During the last U.S.-led sanctions campaign against Iran, before the 2015 nuclear deal, former President Mahmoud Ahmadinejad showered the population with handouts.
None of this means regime change is nearing in Iran.
Iran has also had more success than its Arab neighbors in diversifying the economy away from a dependence on oil.
Article source: https://www.dailystar.com.lb//Business/International/2020/Jan-21/499615-irans-bid-to-integrate-with-global-economy-coming-to-an-end.ashx