Obama signs order to impose more economic sanctions on Iran

Rick Moran
I would say it's about time, wouldn't you?

Reuters:

U.S. President Barack Obama signed an executive order on Monday imposing new, stricter sanctions on Iran and its central bank, saying a broader asset freeze was necessary because Iranian banks were concealing transactions.

"I have determined that additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties, the deficiencies in Iran's anti-money laundering regime and the weaknesses in its implementation, and the continuing and unacceptable risk posed to the international financial system by Iran's activities," Obama said in a letter to Congress.

The executive order, described as a further step in the U.S. effort to isolate Iran, prevents any assets deemed to be in U.S. control - including foreign branches of American banks - from being transferred, paid, exported or withdrawn.

At least these sanctions have a chance to cause significant harm to the Iranian economy, although the only ones that are going to be hurt are the poor and lower classes in Iran who won't be able to afford the steep increases in food and fuel.

The Rev Gaurds launder a lot of their profits from businesses they own overseas so sanctions against the central bank will help slow that process down.


I would say it's about time, wouldn't you?

Reuters:

U.S. President Barack Obama signed an executive order on Monday imposing new, stricter sanctions on Iran and its central bank, saying a broader asset freeze was necessary because Iranian banks were concealing transactions.

"I have determined that additional sanctions are warranted, particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks to conceal transactions of sanctioned parties, the deficiencies in Iran's anti-money laundering regime and the weaknesses in its implementation, and the continuing and unacceptable risk posed to the international financial system by Iran's activities," Obama said in a letter to Congress.

The executive order, described as a further step in the U.S. effort to isolate Iran, prevents any assets deemed to be in U.S. control - including foreign branches of American banks - from being transferred, paid, exported or withdrawn.

At least these sanctions have a chance to cause significant harm to the Iranian economy, although the only ones that are going to be hurt are the poor and lower classes in Iran who won't be able to afford the steep increases in food and fuel.

The Rev Gaurds launder a lot of their profits from businesses they own overseas so sanctions against the central bank will help slow that process down.