Middle East
Iran hit by oil embargo and 'mismanagement'
While EU and US sanctions are taking effect, some Iranians also blame Tehran's economic mismanagement for rising prices.
Last Modified: 31 Jul 2012 20:30

In the month since a European oil embargo on Iran took effect, the people of the Islamic Republic say the economic restrictions are having an impact on them financially.

Analysts describe the oil sector as Tehran's Achilles heel and the sanctions, along with new ones from the US, have placed a particular strain on the country. 

Exports have fallen nearly 40 per cent since the start of 2012.

However, opponents of Mahmoud Ahmadinejad, the Iranian president who has less than a year left in his second term in office, say rising prices are a result of poor economic mismanagement by Tehran itself.

Al Jazeera's Soraya Lennie reports.


Al Jazeera
Topics in this article
Featured on Al Jazeera
UNHCR says hundreds of people trapped in Yaloke town risk death if they are not evacuated to safety urgently.
'Justice for All' demonstrations swell across the US over the deaths of African Americans in police encounters.
Six former Guantanamo detainees are now free in Uruguay with some hailing the decision to grant them asylum.
Disproportionately high number of Aboriginal people in prison highlights inequality and marginalisation, critics say.
Long-standing dispute over Christian use of the word 'Allah' raises concerns about a very un-Merry Christmas.
The threat posed by ISIL has prompted thousands of young Kurds to join the PKK.
Baja California - with its own grim history of disappeared people - finds a voice in the fight against violence.
Russian feminist rockers fight system holding 700,000 - the world's largest per capita prison population after the US.
Weeks of growing protests against Muslims continue in Dresden with 15,000 hitting the streets last Monday.