Yesterday, I posted an Explainer on the Iranian political system. Today's post focuses on the sanctions imposed by the United Nations, the United States and the European Union. It also focuses on the impact of such sanctions on the floundering Iranian economy.
Read The Iran Explainer: Backgrounder on Political System
A Brief History of Sanctions against Iran
Punishing Iran for its consistent refusal to stop its nuclear weapons programme, the United Nations imposed punitive sanctions, which are in addition to the sanctions imposed by the European Union and the United States.
The UN sanctions prevent all members and international financial institutions from entering into new commitments for grants, financial assistance, and concessional loans, to the
The EU imposed its own restrictions on trade in equipment which could be used for uranium enrichment and put in place an asset freeze on a list of individuals and organizations, who it believed, were helping advance the Iranian nuclear programme. In 2011, the EU also banned the export to Iran of key equipment and technology for the refining and production of natural gas.
In 2012, the EU, which until then accounted for about 20% of Iran’s oil exports, banned the import, purchase and transport of Iranian crude oil. It also froze assets belonging to the Central Bank of
As for the
Impact of sanctions in a nutshell
As always I have used pretty simple language.