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The economy of Iran, the leading state sponsor of terrorism, now stands on the brink of collapse. The United States should not bail it out. Recent data from the International Monetary Fund reveals that Iran carried over $122 billion in accessible reserves in 2018, the year that President Trump withdrew from the Joint Comprehensive Plan of Action.
Today, the Islamic Republic is down to a paltry $4 billion in usable foreign exchange reserves. Further combined with a currency that has lost half of its value, the failed government response to the coronavirus, and millions of Iranians taking to the streets to protest the legitimacy with the regime, the leaders in Tehran are now vulnerable and desperate.
While President Biden and his administration may not have had access to the recent report by the International Monetary Fund when they entered the Vienna talks a few weeks ago, it is absolutely critical that the United States now factor in that Iran might be on the brink of economic collapse and not throw it a lifeline for no reason. It is time for the administration to make credible demands of the rogue regime in Tehran.
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