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The key is that you don't need a long-range missile to deliver an EMP blast to a city - it wouldn't be terribly difficult to smuggle the materials in (or simply buy them). I don't believe that the requisite materials are that complicated, though I could be wrong.
Even a small-scale EMP blast, properly placed, could cause lots of damage. Imagine taking out the electronics at an airport, stock market, or hospital. This isn't meant to cause irrational panic, but simply to discourage people from saying "They don't have ICBMs, we're safe."
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