Business Report: How complicated economic sanctions can get - Hawaii News Now - KGMB and KHNL

Business Report: How complicated economic sanctions can get

(Image: Hawaii News Now) (Image: Hawaii News Now)
HONOLULU (HawaiiNewsNow) -

The U.S. and other world power agreed to phase out Iran sanctions in return for Iran abandoning its nuclear program. Iran's newly-elected president supported this, as did most Iranians, figuring it would bring prosperity, since Iran has oil wells.

But it hasn't yet worked out that way, or anyway not to the degree Iranians expected. Iran's ayatollah doesn't blame oil prices; he blames the U.S., saying we're dragging our feet lifting banking sanctions. U.S. officials say it's not them, it's lenders leery of Iran's radical proclivities. Part of what's going on here is a political power struggle between the ayatollah, who holds a dim view of the West, and the Iranian president, who has visions of making Iran a world player again. That power struggle means the ayatollah will blame any further trouble on Washington, even if it's really the free market.

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