Quite suddenly, it seems, Iran’s economy is in serious trouble. In recent days, the country’s national currency has fallen to record lows against the U.S. dollar. On October 1st alone, the value of the Iranian rial declined by some 17 percent, collapsing to 34,700 to one American dollar. (It has since reportedly fallen still further). All told, the rial has lost more than 80 percent of its worth over the past year.
The troubling travails of Rimsha Masih, a Christian teenager who lives near Islamabad and is facing blasphemy charges for allegedly burning pages of the Koran to cook, reflects the growing intolerance toward religious minorities that amounts to what one expert calls a “gradual genocide” in Pakistan.
When it comes to American policy toward the Islamic Republic of Iran, one approach has tended to crowd out all others. Over time, economic sanctions have come to be seen as something of a catch-all—a panacea of sorts for the West's nagging problem with the Iranian regime and its persistent nuclear ambitions. As a result, policymakers in Washington, as well as their counterparts across the Atlantic, have invested tremendous time and energy in crafting an elaborate framework of economic pressure against the Iranian regime.
Late last month, many Americans experienced difficulties accessing their digital bank accounts and the Web sites of their financial institutions. The culprit wasn't a simple computer glitch, but a series of coordinated cyberattacks aimed at the U.S. financial sector.
At first blush, Argentina seems like an odd choice of partners for the Islamic Republic of Iran. The South American nation holds the dubious distinction of being the first victim of Iranian terrorism in the Western Hemisphere, suffering terrorist attacks on Israeli and Jewish targets in Buenos Aires that were carried out by Iranian-sponsored radicals in 1992 and 1994. Yet today, relations between Argentina and Iran are unmistakably on the upswing.