The new U.S. sanctions on Iran’s Central Bank are already taking their toll on Iran, reports the Washington Post:
Iran’s ailing currency took a steep slide Monday, losing 12 percent against foreign currencies after President Obama on Saturday signed a bill that places the Islamic republic’s central bank under unilateral sanctions…The Central Bank of Iran had said Sunday that the United States had become the laughingstock of the world after Obama signed the latest round of sanctions aimed at the institution, Iran’s key axis for oil transactions. But Monday afternoon, the bank held an emergency meeting over the sliding rial, the semiofficial Mehr News Agency reported…Housing prices have risen 20 percent in the past few weeks, Mehr reported. Private companies and importers say they are in deep trouble.
We should not expect the mullahs to take all this lying down. Their Syrian ally is losing his grip, and Europe and the Sunni Arab world are increasingly rallying behind America’s pressure campaign. How the mullahs react with their backs to the wall will go a long way toward setting the tone for what’s to come; as the old saying goes, the enemy also gets a vote. Via Meadia is watching to see how they cast their ballot.