US Sanctions Squeeze Iran Middle Class, Upend Housing Sector
Unprecedented US sanctions squeeze Iran's large middle class, up-end vital housing market
Iran has test-fired a medium-range missile, a U.S. military official said, further escalating tensions in the Persian Gulf region.
The official, who spoke on condition of anonymity, said Thursday Iran fired a Shahab-3 missile Wednesday that did not threaten shipping or U.S. military bases in the area.
The projectile flew about 1,100 kilometers across Iran after it was launched from Iran's southern coast and landed east of the capital of Tehran.
The official said the U.S. had been closely watching the Iranian test site as it prepared for the launch.
The test came as tensions in the region have further heightened following recent attacks on tankers and drones that prompted a U.S. call for allies to protect area shipping lanes.
Iranian missile launches are not violations of the 2015 nuclear deal agreed to by the U.S., Iran and other world powers, a sore point for U.S. President Donald Trump.
A United Nations Security Council resolution, however, calls on Iran not to engage in activities related to ballistic missiles capable of delivering nuclear weapons.
US Sanctions Squeeze Iran Middle Class, Upend Housing Sector
Unprecedented US sanctions squeeze Iran's large middle class, up-end vital housing market
Trump withdrew from the 2015 accord last year and imposed stiff financial sanctions on Iran in an attempt to gain leverage in talks he hopes will lead to a stronger deal.
U.S. Secretary of State Mike Pompeo has demanded that Tehran stop missile launches and scrap its missile stockpiles. Iran maintains it is not obligated to comply, has no interest in nuclear weapons and, therefore, is not violating the U.N. resolution.
The Iranian missile launch came only hours after North Korea fired two short-range missiles as Trump's efforts to revive talks on ending Pyongyang's nuclear weapons program have stalled.
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