November 22, 2011

Iran Policy: The Problem Is Obama

By Ed Lasky
Iran is well on its way to developing nuclear weapons.  Years of sanctions have not stopped them, and now President Obama will not use his most effective tool short of acts of war. The administration opposes new sanctions on Iran's Central Bank, despite the overwhelming support that measure (spearheaded by Illinois Republican Senator Mark Kirk) enjoys on both sides of the aisle in Congress.  The administration says such a measure would lead to a spike in oil prices and harm the world economy.  That is speculation. What is not speculation is that sanctions on the Central Bank would impose crippling costs on a weak Iranian economy and be an effective measure to help dissuade Iran to end its nuclear weapons program.  Iran's Central Bank plays a crucial role in Iran's economy.  Sanctioning the Central Bank makes it difficult for companies to pay for oil purchases -- and oil sales represent 50-75 percent of the government budget. Many Iranians are disgusted with...(Read Full Article)