Since the Islamic revolution in 1979 Iran's relations with the West have been rocky.
Sanctions were imposed by the US after the seizure of American hostages in the aftermath of the revolution, and the 1980 Iran-Iraq war. In recent years a fresh wave of UN sanctions has attempted to curb Iran's nuclear ambitions. But what effect have these measures actually had on the country and its economy? Use the graphs below to see key economic indicators and major events over the last 30 years.
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* Oil production
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* GDP growth
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* Foreign direct investment
JANUARY 1981
1981
Iran releases 63 American hostages taken during the 1979 revolution. Their seizure had led to economic sanctions which included the freezing of $12bn of Iranian assets. According to US officials, most were released as part of the deal for the hostages' return. But some assets - Iran says $10 billion, US says much less - remain frozen.
Oil production
Iran sanctions oil production
GDP growth
Iran sanctions oil production
Foreign direct investment
Iran sanctions oil production
JANUARY 1981
1981
Iran releases 63 American hostages taken during the 1979 revolution. Their seizure had led to economic sanctions which included the freezing of $12bn of Iranian assets. According to US officials, most were released as part of the deal for the hostages' return. But some assets - Iran says $10 billion, US says much less - remain frozen.
JANUARY 1984
1984
Further sanctions are imposed by the US following the bombing of an American marine base in Lebanon. The State Department adds Iran to a list of nations supporting terrorism and therefore subject to strict export controls.
MARCH 1995
1995
President Clinton issues an executive order 12957 banning US investment in Iran's energy sector in response to the country's support to terrorist organisations such as Hezbollah and Hamas.
AUGUST 1996
2996
The US Congress approves the Iran and Libya Sanctions Act of 1996, targeting firms doing business with Iran and Libya. Under the act, all foreign companies that provide investments over US $20m for the development of petroleum resources in Iran will face penalties.
JUNE 1997
1997
Iran elects as president reformist Mohammad Khatami. His campaign pledges include greater freedom of expression, as well as measures to tackle unemployment and boost privatisation. Despite being re-elected in 2001, many of his reformist initiatives, social and political, founder on conservative resistance.
JUNE 2005
2005
Iran elects as president Mahmoud Ahmadinejad. He wins a second term in controversial circumstances in June 2009, sparking nationwide protests.
DECEMBER 2006
2007
The UN Security Council unanimously passes a resolution (1737) imposing sanctions on Iran over its nuclear programme. The resolution orders countries to stop supplying Iran with materials and technology contributing to nuclear and missile programs. It freezes Iranian assets related to those programmes.
MARCH 2007
2007
The UN Security Council imposes a second round of sanctions (resolution 1747) targeting Iran's nuclear programme.
MARCH 2008
2008
The UN Security Council approves a third round of sanctions against Iran. Resolution 1803 tightens travel bans and extends financial sanctions to 12 new companies and 13 executives. Melli Bank, Iran's largest financial institution with many foreign branches, feels the blow particularly hard.
MARCH 2009
2009
The UN Security Council votes to impose further sanctions on Iran (resolution 1929). The sanctions include cargo inspections, new controls on Iranian banks "to block the use of the international financial system... to fund and facilitate nuclear proliferation" and restrictions on the Islamic Revolutionary Guards.
JUNE 2010
2010
The European Union and US impose further sanctions which go further than recent UN measures. The EU bans investments, technical assistance and technology transfers to Iran's oil and gas industries, while the US imposes penalties on foreign companies which trade with Iran.
GDP: Iran's five-year economic development plans for 2000-2015 set a target of 8% growth for the country's gross domestic production (GDP), but except for few years in this period, Iran's economy has largely under-performed. It took a sharp fall in 2008 as a result of plummeting oil prices which followed global financial meltdown. Oil and gas exports constitute some 60% of Iran's revenues.
Oil Production: While showing a slow but steady increase in the past 30 years, Iran's oil production started to decline since 2005 due to lack of investment in developing current and new oil and gas fields. Iran's complicated buy-back scheme and the country's political situation have put off international oil companies from working with a country that sits on world's fourth largest oil reserves.
Foreign investment: Iran's official statistics for foreign direct investment have in the past few years been contradictory. Some official figures include memoranda of understanding which were never signed into contracts. But all statistics show a decline in foreign investment since President Mahmoud Ahmadinejad took office in 2005. Unlike his reformist predecessor Mohammad Khatami who encouraged foreign investment, Mr Ahmadinejad's defiant policies have discouraged foreigners from investing in Iran.
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