Sanctions, while having somewhat of an impact on the Iranian economy, are not effective enough. History tells us that third world economies have no bottom — especially those with a solid oil revenue foundation and a long list of alternative clientele. They have also stopped trading oil in dollars.
LONDON — Iran, facing Western sanctions and attack threats, has been
quietly storing millions of barrels of crude oil in the Gulf.
Industry sources said the Teheran regime, which oversees production of 3.5 million barrels per day, was preparing for an international embargo on fuel exports to Iran.
Full article: Showdown: Iran stockpiling oil by the millions of barrels in tankers (World Tribune)