https://www.washingtontimes.com/news/2018/jul/5/sanctions-can-ruin-the-economy-but-wont-free-iran-
To the surprise of no sentient person, North Korea is dissembling instead of disassembling its nuclear weapons. It is making no move toward denuclearization and instead is finishing the expansion of a key missile manufacturing facility. President Trump’s summit with North Korean dictator Kim Jong-un served only to demonstrate Mr. Kim’s intractability.
Mr. Trump is having much more success with Iran, North Korea’s partner in developing nuclear weapons and missiles. After the president exited the 2015 Obama-Iran deal in May he has taken a hard line by re-imposing economic sanctions on Tehran which are proving effective in weakening Iran’s economy and the ayatollahs’ regime.
Most importantly, for the first time since 2009, large violent protests against the regime are occurring in many of Iran’s big cities, including Tehran.
Unemployment is up, inflation is soaring and the Iranian currency has lost half its value this year. In 2017, the Iranian rial traded at about 43,000:1 against the dollar. It began to weaken leading up to Mr. Trump’s action in May and the rial is now trading at about 75,000:1 against the dollar.
The currency crash is clearly driven by Iranian panic buying of dollars in response to Mr. Trump’s actions. Unlike North Korea, Iran doesn’t have China acting as a sugar daddy to prop up its economy and its regime. The Obama-Iran agreement served to do that by undoing the economic sanctions against Iran and freeing Iran to sell its oil.
Because Iran’s economy is supported primarily by oil sales to South Korea, India, China, Japan and Turkey, the president wants to cut those sales. He plans to slap sanctions on any nation that doesn’t cut off Iranian oil imports by Nov. 4. Mr. Trump reportedly wants to give buyers of Iranian crude time to reduce their imports (which accounts for the delay until November) and may grant temporary waivers of sanctions to nations that make a significant effort to reduce them by that date.
