The U.S. Congress is considering more actions against Iran while Europe is also contemplating more sanctions and embargoes against Iran as both attempt to pressure Iran to give up what western powers say is Iran’s nuclear weapons plans and production.
Iran has denied it is planning to build a nuclear weapon and said its nuclear technology is for peaceful energy production.
As a result of crippling sanctions already in place against Iran, its currency, the Rial, is plummeted to record lows causing riots in the streets of Tehran.
Iran’s economy is already near collapse, while Iran’s judiciary has said sanctions are only hurting the people, not the government. Iran has blamed the plunge in the currency on what it says is a foreign conspiracy.
Now both the U.S. and Europe are looking into blocking any financial transactions with Iran not specifically for food and medicine, something most experts say would bring Iran down almost immediately.
Specifically, U.S. lawmakers want to impose sanctions on any bank or company that engages in a financial transaction with an Iranian company or bank.
But politicians say they do not want to act to fast and end up with Iranian citizens lashing out at the U.S. or Europe. At present they are demanding Iran’s president, Mahmoud Ahmadinejad, to step down saying he has been ineffective to save the country.
All of this comes an Israeli Prime Minister Netanyahu has demanded the U.S. draw a “red line” with Iran and support military action. Israel lacks the more sophisticated and more powerful weapons of the U.S. and has only limited time to strike Iran’s nuclear program before it is moved underground, a fact seen widely as the reason Israel is far more anxious than the U.S. or Europe to take military action against Iran.
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