US sanctions harm regional economy

A recent report by an international think tank has warned that the US-engineered sanctions against Iran would in the long run adversely affect economic stability in the entire Middle East.

According to a report titled ‘Spider Web: The Making and Unmaking of Iran Sanctions’ issued by the Brussels-based International Crisis Group (ICG) on February 25, the US-led sanctions have become as intricate as a “spider web” and therefore difficult to untangle.
The report added that black market and smuggling networks have become an integral part of the region due to the impacts of the sanctions.
The ICG report further indicated that the West’s claims that the sanctions have been targeted at the Iranian government have proven to be false as the Iranian nation has been on the receiving end of the embargos.
The report said, “The more comprehensive the sanctions, the likelier they will harm average citizens”.