Iran nuclear sanctions - Peace is a price worth paying

In agreeing to impose new economic sanctions on Iran over its nuclear programme, including an embargo on buying its oil or trading in its gold, the EU has effectively sent out a message based on the principle that Ireland’s membership of the elite — if somewhat endangered — Brussels club comes at a price.

No doubt the Iranian economy will suffer once the measures are in place but it is also undeniable that an embargo will have knock-on repercussions for EU states.

Inevitably, Irish consumers will be hit where it hurts most — their pockets. Yet, they have more or less been advised to grin and bear it by Eamon Gilmore, the tánaiste, who said that “while this is clearly an issue for consumers, the expected price increase has to be weighed against the seriousness of the problem of Iran’s nuclear programme”.