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.

    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.

    SOURCE: Al Jazeera


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