The new sanctions imposed by the West are the most severe that have ever been imposed. The West must sense Iran's nuclear activities are going full-steam ahead. Mahmoud Ahmadinejad must feel these new European and US sanctions will, indeed, cripple Iran's oil industry and economy. In addition, Iran’s Islamic Revolutionary Guards Corps test-fired missiles capable of hitting Israeli and American military bases in the Middle East.
Ahmadinejad's exact words were, “The sanctions imposed on our country are the most severe and strictest sanctions ever imposed on a country, but the enemies’ assumption that they can put Iran in a weak position through these sanctions is false and is the result of their materialistic calculations.”
About 80% of Iran's national budget income comes from its oil and their oil exports have already fallen by 40 percent so far this year, and the country is losing billions of dollars a month it had not anticipated. The new European oil embargo was implemented last Sunday and the US measures, which penalize buyers of Iranian oil, were imposed on Friday.
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