The Iranian people are enduring a nightmarish economic crisis, a direct consequence of the regime’s blind pursuit of nuclear ambitions. While Iran boasts vast natural resources and ideal conditions for renewable energy, the regime has squandered billions on a program yielding no benefit to its citizens.
Instead, Iran’s nuclear program, touted as a path to progress, has become a two-decade anchor dragging down the nation’s economy and poisoning its relationship with the world. This self-inflicted wound triggered crippling sanctions by the United Nations Security Council, the European Union, the United States, and individual countries.
The stranglehold of sanctions is evident. The International Monetary Fund reports a staggering drop in Iran’s foreign exchange reserves – from $5.12 billion in 2018 to $4 billion in 2020. Oil sales, a vital source of income, have been slashed by an average of 2 million barrels daily. The inability to export liquefied natural gas translates into a staggering $400 billion in lost revenue.
The regime’s own development plans projected a petrochemical industry generating over $40 billion by 2022. Reality paints a grim picture. Even accounting for inflated figures and the cost of sanctions evasion, the industry’s 2023 earnings pale at a mere $23 billion. Similar losses plague the iron and steel industry, hemorrhaging nearly $400 million in export revenue just in 2022.
The economic damage extends far beyond specific sectors. Sanctions, coupled with the regime’s mismanagement, have fueled inflation, doubling rates compared to the 2000s. This translates to a staggering $2 trillion in inflation-related losses alone over the past 17 years. When combined with lost revenue from oil, gas, and other sectors, the total damage reaches a mind-boggling $4 trillion – even in the most optimistic estimates.
Meanwhile, billions poured into the Bushehr nuclear power plant, a boondoggle built with Russian assistance, have failed to deliver. Gas and electricity shortages remain a constant threat, crippling industries and households alike.
Daoud Manzoor, head of the regime’s Planning and Budget Organization, paints a bleak picture – Iran’s total development budget stands at a meager $5 billion. Dr. Hossein Selahvarzi, former head of Iran’s Chamber of Commerce, calculates the direct cost of sanctions over the past 12 years to be a staggering $1.21 trillion – an annual average of $101 billion gouged from the lives of ordinary Iranians.
This translates to a horrifying reality: the damage inflicted by sanctions is over twenty times the nation’s annual development budget and surpasses Iran’s entire development budget for the past 240 years! The regime’s nuclear obsession has effectively squandered the equivalent of Iran’s development resources since the Safavid period.
These are just the direct, quantifiable losses. The indirect consequences of the regime’s nuclear folly are far-reaching and devastating. Rampant youth unemployment, business closures, a widening wealth gap, and rising divorce rates are all grim symptoms of a nation in decay. Brain drain, a flourishing black market, and psychological distress further erode the fabric of Iranian society.
The annual flight of $12 billion in capital and the exodus of hundreds of thousands of talented Iranians speak volumes about the despair gripping the nation. Millions struggle with poverty, stagnant inflation, and a bleak future – all under the shadow of sanctions imposed for the regime’s self-serving nuclear ambitions.
The Iranian people deserve answers. Why have they been burdened with such immense costs? What benefits have they received in return? The regime’s nuclear program stands as a monument to misplaced priorities, a testament to a government that prioritizes its own power over the well-being of its citizens. It’s time for the Iranian people to demand change and cast off the shackles of this destructive obsession.
Source » irannewsupdate