11/07/2025

Are Western sanctions really hurting Iran's economy? Despite years of sanctions aimed at cutting off Tehran's ability to profit from its vast oil wealth, its recent war against Israel showed it can still afford to fight.

The world's 7th biggest oil producer uses the tens of billions of dollars its energy riches bring in each year to fund its nuclear programme and regional proxies yet a growing number of Iranians are struggling to make ends meet.

Iranian economist Dr Mhadi Ghodsi, of The Vienna Institute for International Economic Studies and the former US Deputy Envoy for Iran who played a large role in drawing up the sanction, Richard Nephew, explain where all the money is going and what will it take to get the economy back on track.

Plus Mark Lobel hears from Peter Specht of European venture capital giant Creandum about the world of start-ups and what it takes to create the next big thing.