Obama: US-led sanctions leaving Iran's economy in shambles

January 20, 2012 11:06

US-led sanctions have devastated the Iranian economy, AFP quoted US President Barack Obama as saying Friday. "[Sanctions] have been so effective that even the Iranians have had to acknowledge that their economy is in shambles."

Speaking at a Jewish community fundraising event in New York, Obama said: "when I came into office, Iran was united and the world was divided. And now what we have is a united international community that is saying to Iran, you've got to change your ways." He added that the US has "been able to organize folks like China and Russia that previously would have never gone along with something like this," AFP reported.

He said that the US had organized "unprecedented" sanctions, the goal of which were to announce "unequivocally that we're not going to tolerate a nuclear weapon in the hands of this Iranian regime."

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