Thursday, 20 August 2020

Escalation of Economic Crisis for Islamic Republic of Iran

 Recently, the United States of America (USA) defeated at the United Nations Security Council to disallow the Islamic Republic of Iran to purchase weapons. It caused the USA to re-evaluate its economic sanction against the Islamic Republic of Iran. 


The USA is going to impose harsher economic sanctions against the regime in Iran.  It is essential to understand that the US is using economic sanctions as an instrument to wage war against the Islamic Republic of Iran. In this situation, the US is not firing one bullet at the Iranian regime, and not one US soldier is putting her/his lives on harm's way. In the meantime, Iranians are paying a high price for these economic sanctions. 


Currently, poverty is on the rise in Iran as the middle class is shrinking. People no longer can afford to pay rents, and they are renting spaces on someone's roof. Poverty is spreading like cancer in every facet of society. Businesses from every sector are shutting down because business owners cannot afford to pay their staff and have no financial resources or recourse to buy new products for their customers. So far, customers' purchase power is lacking confidence at the time of economic crisis. The COVID-19 is causing a more economic downturn as there is a lack of interest in people to enjoy daily activities.


In conclusion, the USA imposed economic sanctions against the Islamic Republic of Iran, and Iranians feel financial hardship. Suppose the US develops another economic sanctions against the Islamic Republic of Iran. In that case, the Iranian middle class may disappear altogether and creates a petite bourgeoisie class, as Karl Marx talks about.

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