Iran's Frail Banking Sector Poses a Threat From Within

Jun 14, 2019 | 09:00 GMT
This picture shows Iranian President Hassan Rouhani speaking to the Central Bank of Iran.

Iranian President Hassan Rouhani delivers a speech during a visit to the Central Bank of Iran in Tehran on Feb. 26, 2019. 

(Iranian Presidency/Handout/Anadolu Agency/Getty Images)

As the U.S. "maximum pressure" campaign continues to hammer his country's economy, Iranian Foreign Minister Javad Zarif recently offered a message of defiance, saying Iran would weather the storm, given its "PhD in sanctions-busting." His rhetorical description of the Islamic republic's resilience in the face of outside pressure is certainly apt, given its track record of survival. But this time around, the current U.S. pressure campaign poses a risk to one of the fundamental pillars of Iran's economy: its increasingly fragile banking and financial sector. ...

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