Iran is a sovereign state that still has a large influence.
Iran ( ɪ , also ɪ ) , formerly known as Persia , is a sovereign state in Western Asia . Growing dissent against foreign influence and political repression led to the 1979 Revolution and the establishment of an Islamic republic , a political system which combines elements of a parliamentary democracy with a theocracy governed by Islamic jurists under the concept of a `` Supreme Leadership '' . Iran is a major regional and middle power , and its large reserves of fossil fuels -- which include the largest natural gas supply in the world and the fourth-largest proven oil reserves -- exert considerable influence in international energy security and the world economy .