U.S. official: EU, China reluctant to impose sanctions on Iran

[lovuian]

http://www.haaretz.com/hasen/spages/832935.html

The United States is finding it difficult to enlist the support of key EU nations and China for imposing economic sanctions, U.S. Under Secretary for Terrorism and Financial Intelligence Stuart Levey said on Sunday.

Levey, arrived in Israel on Sunday for talks on using economic sanctions to step up the pressure on Iran over its nuclear program.
snip...
Israeli and American officials began a series of talks Sunday on measures that will target companies and banks involved with Iranian businesses that have ties to Tehran's nuclear program or provide assistance to Hezbollah and Palestinian militant organizations.
snip...
Levey believes that imposing a boycott on the banking and trading system of Iran would be much more effective than sanctions. It would not require long diplomatic efforts or complex legislation. It would be sufficient for the administration to announce that a company or a bank is on a black list, and they are immediately cut off from the American financial system, are unable to trade in dollars or make deals with banks in the U.S.

In an interview with the Washington Post, Levey said that Section 311 added to the Patriot Act several years ago, "has been more powerful than many thought possible." Section 311 authorizes the Treasury to mark a foreign financial institution a "primary money laundering concern," effectively choking it off from the U.S. financial system.
more...
Section 311 of the Patriot Act ... Fascinating and they wonder why our markets are unstable right now

[Vidar]

1. Good for EU & China.

[HuffleClaw]

2. "believes that imposing a boycott on the banking and trading system of Iran"

bwahahhahahhahaaaaaaa


wow, how transparent can they be?

[lovuian]

3. kick

:kick: