By JPOST.COM STAFF
The fall of oil prices due to the international financial crisis could lessen Iran's ability to threaten Israel, President Shimon Peres said Friday.
During a visit to the succa of Chief Sephardi Rabbi Shlomo Ama, Perese said: "We see only our troubles, but we must note that there is finally a drop in oil prices, and this is a severe blow to Iran."
"If the price of oil continues to drop, Iran will not be able maintain its military spending [levels]," Peres said.
"We will overcome the Iranians and all threats," he added. "Israel must move forward."
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