Reuters’ Andrew Torchia reports from Dubai that as Iran sanctions tighten, the country’s economy remains under pressure but far from collapse. Torchia observes that shops in the city are crowded; finding a seat at good restaurants can be difficult, and the ski resorts in the mountains north of Tehran continue to attract Tehran's glamorous and well-heeled.
“The economy has problems with the sanctions, yes. But it's still working," an Iranian resident of Dubai is quoted as saying. “It isn't as bad as people outside the country think.” (Reuters, 20 February)
Torchia believes that sanctions are not close to having the “crippling” effect. The Iranian government has found ways to soften the impact, and Iran's economy is large and diverse enough to absorb a lot of punishment.
To read Torchia’s report, please click here.
Photo credit: Reuters