Ordinary Iranians are having to tighten their belts since the European Union's oil embargo came into force on July 1. The decades of economic mismanagement by Iran's authoritarian leaders have culminated in five years of increasingly stern sanctions, which are crippling Iran's economy. And notwithstanding the regime's defiant dismissal of their impact, sanctions have left many Iranian families with empty bank accounts and hollow stomachs.

While government fat cats are unaffected, ordinary Iranians must contend every day with...