For the longest time, conventional wisdom held that economic sanctions on Iran were ineffective. But, once (1) the UN adopted Resolution 1929 in June 2010, prohibiting Iran from buying heavy weapons, toughening financial transactions with Iranian banks, increasing travel bans and supporting more cargo inspections, (2) the United States announced measures to fine companies that sold gasoline to Iran and entities that engaged in financial transactions with specified Iranian entities, and (3) the European Union adopted tougher initiatives than the UN, officials expressed “surprise” that sanctions were beginning to squeeze Tehran.
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