A recent report by the US Congress’ research arm says the illegal US - led sanctions against the Islamic Republic are losing their effect.
“The strategic effects of sanctions might be abating as Iran adjusts to them economically, ” the Congressional Research Service(CRS) said in a report, adding that the illegal US - led sanctions against Iran ' s energy sector have even led to a “sharp increase” in non - oil exports such as agricultural goods, minerals and industrial goods. “Sanctions do not appear to have reduced Iran ' s influence or strategic capabilities in the Middle East, ” the report further said. The report added that anti - Iran sanctions have also failed to hinder the Islamic Republic’s ability to develop defensive weapons indigenously.
“Some argue that Iran might even benefit from sanctions over the long term by being compelled to diversify its economy and reduce dependence on oil revenues, ” the report added.
The CRS report also questioned the efficacy anti-Iran sanctions in curbing the Iranian nuclear energy program. At the beginning of 2012, the US and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran. The sanctions have been imposed on Iran over the groundless charges of a potential military diversion in Iran’s nuclear energy program. Iran rejects the unfounded allegations over its nuclear energy program, arguing that as a committed signatory to the Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.