"Sanctions against the Iranian regime are pushing the Islamic Republic's economy into deep crisis, according to key Israeli officials in comments seen as a further indication unilateral military action may have been put on hold.
The Iranian rial fell 5% to an all-time low against the US dollar on Saturday, according to financial websites. The value of the rial has fallen by almost 57% since June last year, leading to big price increases for imported goods.
Israel's finance minister, Yuval Steinitz, said Iran's economy "is not collapsing, but it is on the verge of collapse". The loss of oil revenue would approach $45bn-$50bn (£28bn-£31bn) by the end of the year, he told Israel Radio. "The Iranians are in great economic difficulties as a result of the sanctions.""
To recap: sanctions are working, and there will be no attack on Iran. Just like I said a few months ago, and CollapseNet's credibility remains intact. - Wes
