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| Syria-Lebanon-Iran |
| US sanctions affecting Irans economy |
| 2007-05-24 |
| US sanctions against Iran have caused damage to the countrys economy, Iranian business leaders and analysts say, even as the UN Security Council prepares to consider additional measures to force Iran to curb its nuclear program. The U.N.s nuclear watchdog issued a report Wednesday that sets the stage for new US Security Council sanctions. A first set of limited UN sanctions imposed last March were focused on companies involved in the nuclear program. But unilateral actions that the United States has taken in recent months have been broader, attempting to block dollar transactions into and out of Iran and targeting energy firms and financial activity. The US measures are driving up prices in Iran while increasing business costs and making it tougher for Iran to import ordinary goods, businessmen and analysts said this week. The sanctions imposed by the U.S., especially in the past year, have been more harmful than we expected, said Saeed Laylaz, a prominent political and economic analyst in Teheran. The main impact is that all of our imported goods have become more expensive. US firms had already been banned from doing business with the Islamic Republic. But in recent months, US officials have bluntly warned non-American businesses, too, that they face possible US retribution if caught doing business with Iran. Given the choice between doing business in Iran or America, at least nine major international banks as well as companies in Europe, Japan and Arab countries have quietly cut ties with Iran, according to interviews with banking and government officials in the United Arab Emirates. In addition, international banks have curbed most of their dealings inside Iran in recent months, under threat that their US operations may be shut down, a Dubai-based representative of an international bank said on condition of anonymity, because of the topics sensitivity. Laylaz said the US measures are leading Iran away from traditional suppliers in western Europe and closer to Russia and China, where US policies have less traction. Laylaz expects trade with China to reach its highest level ever this year, around US$16 billion (Ð12 billion). But in Germany, one of Irans traditional largest trading partners, exports dropped by 6 percent last year. German companies reported pressure to cut business with Iran and exports have dropped further this year, according to EU figures. Dubai and nearby ports in Bahrain and Pakistan are serving as a lifeline for Iran, enabling businessmen to bypass the sanctions but also adding to their business costs. Dubai expects to see its trade with Iran jump to US$10 billion (Ð7.4 billion) this year from US$7.8 billion in 2006. US Vice President Dick Cheney, visiting here earlier this month, asked the United Arab Emirates to join the American effort to isolate Iran. But Cheney was told the Emirates wont consider the restrictions unless they are adopted by Irans other neighbors, said a government official speaking on condition of anonymity because of the informations sensitivity. |
| Posted by:Pappy |
| #1 But in recent months, US officials have bluntly warned non-American businesses, too, that they face possible US retribution if caught doing business with Iran. Given the choice between doing business in Iran or America, at least nine major international banks as well as companies in Europe, Japan and Arab countries have quietly cut ties with Iran, Since Bush is the worst President ever and has alienated every decent country that ever considered allying itself with America, this story cannot be happening. Because of Bush's abysmal performance, no country, institution or individual of any consequence will ever side with the US over its enemies again. Therefore, this story is untrue. QED |
| Posted by: Baba Tutu 2007-05-24 04:14 |