Trade soars in Iran despite sanctions

As reported by the Jerusalem Post

Trade between Iran and the five permanent members of the United Nations Security Council has soared despite a newly imposed round of international economic sanctions on Iran, the semi-official Iranian news broadcaster Press TV has claimed. 

A Press TV report claimed that while Iranian imports from the U.S. and the U.K. have suffered under the new sanctions regime, exports to both countries rose by 76 percent and 61 percent, respectively, over the last four months. Trade with China, by many account’s Iran’s most important trading partner, saw a 50 percent rise in exports and a 40 percent rise in imports, the news agency found. 

On June 9 the five permanent members of the United Nations Security Council - the United States, United Kingdom, Russia, France and China - all voted to impose a fourth round of sanction on Iran over its nuclear program. Together with Germany the five countries are often referred to as the P5+1 countries, which try to negotiate with Iran as a united block.

And...

...“Iran will be able to cope with the situation,” Dr Mozayani added. “There may just be higher prices on imports and lower prices on exports or more insurance charges or something.” 

 Yet...

Dr. Christian Koch, Director of International Studies at the Gulf Research Center in Dubai argued that the sanctions have proven effective.

“I don’t know the reason for releasing this data but there are signs that the sanctions are working,” he told The Media Line. “I would attempt to portray this as a sign that Iran is not being isolated.” 

 I dunno doctor. If Iran will be able to cope with the situation, and they have built a nuclear reactor with the support of Russia, are the sanctions really working?