In recent years, the United States has imposed punishing sanctions on Iran’s financial sector. Last month, the Treasury Department announced new measures intended to hamper Iran’s ability to raise and move funds internationally. Several Western allies have followed suit in an attempt to tighten the noose around the Islamic republic and curb its ability to achieve nuclearization. Yet a close analysis of Treasury’s action demonstrates that the new sanctions regime is far weaker than existing laws and falls short of the moves members of Congress are demanding. What is needed is not new measures, but better implementation of existing statues.
Despite four rounds of sanctions by the United Nations and a concerted effort by many Western allies, a large number of banks around the world continue to do business with Iranian financial institutions that are complicit in supporting terrorist groups and spreading nuclear weapons.… Seguir leyendo »