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Mon Jan 23, 2012, 07:46 PM

U.S. tightens grip on Iran's financial system

(Reuters) - The United States on Monday sought to tighten the financial screws on Iran by imposing sanctions on the country's third-largest bank for allegedly helping Tehran develop its nuclear program.

Now any foreign firm that deals with Iranian state-owned Bank Tejarat and its affiliate, Belarus-based Trade Capital Bank, will no longer be able to access the U.S. financial system.

The sanctions "will deepen Iran's financial isolation, make its access to hard currency even more tenuous, and further impair Iran's ability to finance its illicit nuclear program," Treasury Undersecretary David Cohen said in a statement.

The United States and Europe are pressuring Iran to talk to the international community about its nuclear activities, which the West says are aimed at developing a weapons program but which Tehran says are peaceful.

Read more: http://www.reuters.com/article/2012/01/23/us-nuclear-iran-usa-bank-idUSTRE80M1S820120123


Don't these sanctions only cause more tension and hostility with other countries?

What happened to extending a hand to Iran?

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Reply U.S. tightens grip on Iran's financial system (Original post)
The Northerner Jan 2012 OP
teddy51 Jan 2012 #1
TheWraith Jan 2012 #2

Response to The Northerner (Original post)

Mon Jan 23, 2012, 07:51 PM

1. Except that both China and India will now use gold to purchase oil from Iran. These sanctions

 

might backfire on the US, EU and Israel.

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Response to The Northerner (Original post)

Mon Jan 23, 2012, 07:59 PM

2. Gosh yes, we should make sure corporations that help fundamentalists develop nukes have free banking

Only on DU would you find a situation where four things people despise--corporations, nuclear weapons, violent fundamentalists, and corrupt banks--are suddenly rolled together and become a good thing.

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