Abstract
Since 1980, Iran has been at the receiving end of imposing sanctions from the west. President Carter’s ban on importing Iranian oil lead to the banning of all U.S. trade and travel with the Islamic Republic. In Ronald Reagan’s administration, Iran was declared a “state sponsor of terrorism”, and along with that declaration came an embargo against Iranian imports. Bill Clinton added to the list of sanctions imposed upon Iran with the 1997 banning of all American investment in Iran and the prohibition of any involvement the United States had with the Iranian petroleum industry. None of these sanctions, however, have had an effect on Iran’s economy as considerably as the most recent rounds of sanctions.
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