As the White House considers taking military action against Syria for its use of chemical weapons against civilians, the president has turned to Congress to authorize airstrikes. Lawmakers weighing their decision on the most consequential policy vote since the 2002 authorization for war in Iraq should encourage the president to also consider using an additional tool to force the Syrian regime to change course: stepping up economic warfare against Syrian banks and institutions that do business with them.
While sanctions are not a silver bullet, properly targeted, they might yet succeed in pressuring the regime to change its ways. Cutting off banks inside Syria and in other parts of the world that are helping the Assad regime gas its people and circumvent the already existing international sanctions regime, which includes an asset freeze, travels bans and oil restrictions, should be a top priority for legislators on both sides of the Atlantic. This type of effort can have measurable impact for a simple reason: the Assad government needs money. Without hard currency and access to the international market, the regime will find it far more difficult to fund its military and its ability to purchase Russian weapons will be limited.
Syria has 24 financial institutions, many with correspondent banking relationships in Europe, Asia and the Gulf. The relationship between the Syrian government and its banking sector enables the regime to maintain access to foreign currencies and markets.
http://www.usatoday.com/story/opinion/2013/09/06/syria-banks-sanctions-column/2772799/
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