Bolton: Iran Sanctions Having “Enormous” Economic Consequences; Iran Is In A Depression

Bolton: Iran Sanctions Having “Enormous” Economic Consequences; Iran Is In A Depression
 Bolton: Iran Sanctions Having “Enormous” Economic Consequences; Iran Is In A Depression
National security adviser John Bolton told FBN’s Maria Bartiromo on Monday that sanctions have had an “enormous” effect on Iran’s economy, driving them into a depression

“We’ve already seen the consequences in Iran,” Bolton told FOX Business Network’s Maria Bartiromo. “The rial, the currency, has declined by 70 percent since the sanctions, inflation has quadrupled. The country is in recession.”Iran Sanctions

MARIA BARTIROMO, MORNINGS WITH MARIA HOST: Joining me right now is National Security Advisor, John Bolton, and it is good to see you, Ambassador. Thank you so much for being here.
JOHN BOLTON, NATIONAL SECURITY ADVISOR OF THE UNITED STATES: Glad to be here.

BARTIROMO: So tell me really the teeth on these sanctions. What is it going to do to Iran practically speaking?

BOLTON: Well, I think the sanctions in the aggregate are already having an enormous effect on Iran. You know, when the president announced we were withdrawing from the Iran nuclear deal in May of this year, big businesses that had prospects or even some trade and investment with Iran weren’t going to wait for the sanctions actually to take effect. They’ve pulled out. They’ve cut back in many ways, and I think we’ve already seen the consequences in Iran. The rial, the currency’s declined about 70 percent since the sanctions, inflation has quadrupled, the country is in recession. You’re seeing riots and demonstrations all around the country just provoked by ordinary citizens. So I think this is going to cut into Iran’s ability to continue their nuclear program, the financed terrorism, and to engage in military activity around the Middle East, and I think we’re already seeing that.

Read more: Real Clear Politics

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