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Iran Sanctions Successive Administrations have used sanctions extensively to try to change Iran’s behavior. Sanctions have a substantial effect on Iran’s economy and on some major decisions, but little or no effect on Iran’s regional malign activities. During 2012-2015, when the global community was relatively united in pressuring Iran, Iran’s economy shrank as its crude oil exports fell by more than 50%, and Iran had limited ability to utilize its $120 billion in assets held abroad. The 2015 multilateral nuclear accord (Joint Comprehensive Plan of Action, or JCPOA) provided Iran broad relief as the Obama Administration waived relevant sanctions, revoked relevant executive orders (E.O.s), and corresponding U.N.