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The Squeeze on Iran

(Washington Post) David Ignatius - As Iran prepares for talks about its nuclear program, it faces an economic squeeze that is growing tighter by the month. Iranian oil exports fell by about 300,000 barrels per day in March as countries cut back imports. Economic sanctions are often regarded as an ineffective weapon because they rarely have a "crippling" effect. But with the Iranian sanctions, the bite may actually be worse than the bark. That's because in a globalized economy, decisions taken at the financial hubs in America, Europe and Japan can move instantaneously along the world's financial nervous system to the most distant nodes.
2012-04-10 00:00:00
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