This is the first part of a two-part article. The year 2010 has so far been Iran's annus horribilis. In addition to a nuber of domestic political turmoils, economic setbacks and social crises, the 'year of the tiger' has witnessed a concerted diplomatic censure. Prompted by a new and highly critical report on Iran by the International Atomic Energy Agency (IAEA), the United Nations Security Council issued its fourth round of sanctions on 9 June due to Tehran's refusal to abide by previous nuclear and missile-related resolutions. Soon after, a number of countries, led by Washington, introduced additional unilateral penalties of their own. All these sanctions were initiated and imposed on the assumptions, hidden or otherwise, that: (1) the Islamic Republic--despite its repeated denials--intends to develop nuclear weapons in order to intimidate and dominate its neighbors; (2) whether or not Iranian bombs should pose an existential threat to Israel or elsewhere, they will induce a costly and dangerous nuclear arms race in the region; and (3) even if Washington provides a protective atomic shield to Iran's neighbor to prevent such an arms race, nuclear devices might fall into the hands of rogue elements, terrorists, and Jihadist warriors.