Bloomberg News

Obama Says Iran Economy in ‘Shambles’ From U.S.-Led Sanctions

January 24, 2012

Jan. 19 (Bloomberg) -- President Barack Obama told a group of Jewish donors that while a lack of progress in Middle East peace negotiations is disappointing, Iran’s economy is in “shambles” due to international sanctions the U.S. has helped impose.

“We have a united international community that is saying to Iran, you’ve got to change your ways,” Obama said at the fundraiser in New York City. Sanctions have been “so effective, even the Iranians have had to acknowledge that their economy is in shambles,” he said.

As for the Middle East, “obviously, we still have not seen the kind of progress that I would have liked to have seen when it comes to peace between Israel and Palestinians,” Obama said.

He said “Israel’s security is non-negotiable” and pledged that the U.S. “will do everything that is necessary to make sure that Israel is able to thrive and prosper as a secure Jewish state.”

--Editors: Jim Rubin, Don Frederick

To contact the reporter on this story: Hans Nichols in Washington, DC at

To contact the editor responsible for this story: Mark Silva at

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