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Wednesday, October 3, 2012

Iranian economic crisis hitting people in Iran and U.S.

"My country, I will build you again, if need be, with bricks made from my life. I will build columns to support your roof, if need be, with my own bones. I will inhale again the perfume of flower favored by your youth. I will wash again the blood off your body with torrents of my tears." Simin Behbahani, Iranian poetess
Some claim that the crisis in Iran is negatively affecting Persian Americans. In Metro Atlanta, there has been an uptick in estate sales and foreclosures by naturalized Iranian American citizens. Many Iranian American men who are highly trained mechanical and industrial engineers have lost their jobs, contracts, homes, and are selling everything.  Many of them have money in Iranian banks which were offering large interest rates on deposits until the crisis worsened.

The economic collapse in Iran is the result of escalating sanctions imposed for not halting its nuclear arms program. It's sad that such an ancient, beautiful place may now join the likes of Egypt and Syria depending on how problems are resolved by governments.

The Jerusalem Post is reporting that Iran's Supreme Leader Ayatollah Ali Khamenei has declared, "Iran has never bowed to pressure and never will."

According to the White House, the problem with Iran's economy was exacerbated in July 2012 when the Obama Administration took two actions. First, it isolated through imposing additional sanctions and penalized Iran for its refusal to live up to its international obligations regarding its nuclear program. Then it held accountable Iranian financial institutions that knowingly provided financial services to Iranian banks that are under U.S. sanctions for their connection to illicit activities.

"These steps are part of President Obama’s commitment to prevent Iran from acquiring nuclear weapons by raising the cost of Iran’s defiance of the international community," was the message posted in a White House Fact Sheet.

"This sanction is designed to deter Iran or any other country from establishing payment mechanisms for the purchase of Iranian oil to circumvent the NDAA sanctions." Existing sanctions on Iran’s petrochemical industry were expanded as were sanctions on those supporting the National Iranian Oil Company, Naftiran Intertrade Company, or the Central Bank of Iran.

According to Aljazzera News, "...Ahmadinejad, the Iranian president, has rejected criticism of his policies and insisted his country could ride out the sanctions." Ahmadinejad has blamed the crisis on Iran's "enemies."

Photos and poem from slide show emailed from Iranian American.
 ©2012 Tomi Johnson. All rights reserved. 

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