I see that Donald the Orange has once again used his favorite tool for international situations….sanctions.
This time it is sanctions used against Iran….again.
The US slapped new sanctions on Iran’s financial sector on Thursday in an attempt to further isolate the Islamic Republic’s economy. The new measures target 18 Iranian banks and subjects foreign, non-Iranian institutions to penalties for doing business with them.
“Today’s action to identify the financial sector and sanction 18 major Iranian banks reflects our commitment to stop illicit access to US dollars,” US Treasury Secretary Steven Mnuchin said in a statement.
The move comes after Washington’s European allies have been warning of the humanitarian consequences sanctions can have on Iran. The country is already facing an economic crisis due to previous US sanctions, which has been exacerbated by the coronavirus pandemic.
European countries have been at odds with the Trump administration over its Iran policy. The US has been trying to enforce measures agreed to under the 2015 nuclear deal, an agreement the US withdrew from when it reimposed sanctions on Iran in 2018.
The US says the new sanctions do not apply to transactions that involve food or medical supplies. But the sanctions will discourage foreign banks from doing any business with Iran, including humanitarian deals. Sanctions imposed on Iran since 2018 also technically have exemptions for humanitarian goods, but have caused things like medicine shortages.
The new sanctions came just a day after Iran reported its highest number of daily deaths due to coronavirus. Iranian Foreign Minister Javad Zarif responded to the new sanctions on Twitter. “Amid Covid19 pandemic, US regime wants to blow up our remaining channels to pay for food & medicine,” Zarif wrote.
I am not a big fan of sanctions…I believe they should be used only as a deterrent…..I dislike them for they usually hurt innocent people more than the intended recipients.
I have written my feelings about sanctions…..https://lobotero.com/2019/02/05/sanctions/
Sanctions are a cheap way to try and get the targeted nations to play ball with what the US wants…..but just how effective are they?
The imposition of sanctions is a relatively inexpensive political instrument compared to armed conflict, and is more popular with the public. However, when a sanctions regime is promulgated, it is impossible to determine the exact level of measures that must be taken in order for sanctions to have an impact on the policy of the sanctioned state.
In order to determine the effectiveness of a sanctions regime, we will examine nine factors that we believe to be decisive: the economic cost to the sanctioned state; the nature of its political regime; its political and economic stability; the relationship between the sanctioning state and the sanctioned state; the type of objective; international cohesion; the phenomenon of rallying around the flag; the reputation and image of the sanctioned state; and time.
I still do not think that sanctions accomplished their intended conclusion……and do more harm than good.
So are these sanctions really all that good?
The genesis of the maximum pressure campaign as articulated by former national security adviser John Bolton and hawkish think tanks like the Foundation for Defense of Democracies, was founded upon a simplistic but appealing narrative: the Iranian Islamic regime has grand designs on the Middle East, including a kind of 21st century colonization that would swallow the region whole. Because this narrative was already fully entrenched in Washington’s security and intelligence establishment, it was a relatively easy one to sell to an administration staffed to the gills with Iran hawks.
The main theoretical assumption underlying the maximum pressure campaign was as shallow as it was tempting: pummel the Iranian economy with so many restrictions that the ayatollahs would have no choice but to crawl back to the table on their hands and knees and negotiate a new agreement on Washington’s terms.
However, knowing that caving to U.S. demands would leave it highly vulnerable to similar tactics in the future, the Iranian government has held firm to its original position: if the U.S. wants to talk about a bigger and better deal, it must first re-enter the original Joint Plan of Comprehensive Action (JCPOA) and compensate Tehran for its losses. The Trump administration, as can be expected, finds Iran’s demands absurd, if not insulting. Indeed, as of this writing, the White House, State Department, and Treasury are actively debating blacklisting what is left of the entire Iranian financial sector and thereby severing it from the international community.
Really? We have been punishing Iran for over 40 years and what has that lead to?
I Read, I Write, You Know
“lego ergo scribo”