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Obama continues toward the key part of his address: People predicted that Russia and China wouldn’t join us in moving toward pressure. They did, and in 2010 the UN Security Council overwhelmingly supported a comprehensive sanctions effort. Few thought that sanctions could have an immediate bite on the Iranian regime. They have, slowing the Iranian nuclear program and virtually grinding the Iranian economy to a halt in 2011. Many questioned whether we could hold our coalition together as we moved against Iran’s Central Bank and oil exports. But our friends in Europe and Asia and elsewhere are joining us. And in 2012, the Iranian government faces the prospect of even more crippling sanctions. That is where we are today. Iran is isolated, its leadership divided and under pressure. And the Arab Spring has only increased these trends, as the hypocrisy of the Iranian regime is exposed, and its ally – the Assad regime – is crumbling. Of course, so long as Iran fails to meet its obligations, this problem remains unsolved. The effective implementation of our policy is not enough – we must accomplish our objective.

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