Recently, Rial, Iran's currency unit, has made a free fall. This week a dollar was exchanged for more than 3,500 Rials. The issue has been followed by journalists, politicians and economic analysts, yet there is no consensus about the main factors behind. However, fingers are generally pointed towards recent back-breaking sanctions against the country by UN, EU and US over its intransigent nuclear policies.
The sanctions aim to mount pressure and cause the regime to suspend the program. While emphasizing civility of the program, officials have clearly notified that they would not compromise on right of Iranian nation of possessing nuclear energy and nuclear technology which certainly would support country's global prestige.
Drawing redline indeed has intertwined with controversial nuclear program. Days ago, Israeli Prime Minister, Mr. Benjamin Netanyahu drew a caricature-like bomb and showed it while talking in the UN general assembly annual summit. He tries to convince the globe that Tehran wants to develop nuclear bomb which would be a tragedy for Israel.
Recently, he has been deeply engaged with oppositions in the US to mount pressure on President Obama to draw redline for Iran's nuclear program in which he bluntly failed. President Obama publically said that he did not care about his demand of drawing redline for Iran's nuclear program. Seemingly, the United States and European Union still maintain that sanctions can work as the recent currency crisis and some reports about demonstration in Tehran are sign of tightening global sanctions.
Inside the country, officials are still in state of denial, and those who accept the sanctions have crippling effects on the economy have invented new methods to deal with possible spread of civil demonstrations. Some key supporters of the regime branded the current state of Iran to early age of Islam when Prophet Mohammad started his calls for religion Islam publically.
On the other hand, President Ahmadinejad accepted the pressure of economic sanctions but meanwhile blamed wings inside the regime that prevent his government to manage the currency crisis. He said that his government could deal with this problem in manner that nations could never feel the tightening of foreign pressure.
Anyhow, whether officials accept or not, analysts maintain that the key reason behind currency crisis is sanctions which have cut the country short of foreign currency. Meanwhile, yet all are in consensus that there is no promising sign to denote on possible fundamental change in country's nuclear policies.