World

U.S. Imposes Tougher Sanctions on Iran, But Will it Ease Israeli Fears?

U.S. Imposes Tougher Sanctions on Iran, Will it Ease Israeli Fears?WASHINGTON (The Blaze/AP) — Targeting Iran’s economy, the U.S. ordered tough new penalties Monday to further pinch the country‘s financial system and encourage Israel to give sanctions more time before any military action against Iran’s nuclear program.

The new, stricter sanctions, authorized in legislation that President Barack Obama signed in December, will be enforced under an order he signed only now. They give U.S. banks new powers to freeze assets linked to the Iranian government and close loopholes that officials say Iran has used to move money despite earlier restrictions imposed by the U.S. and Europe.

The action against the Central Bank of Iran is more significant for its timing than its immediate effect. It comes as the United States and its allies are arguing that tough sanctions can still persuade Iran to back off what the West contends is a drive to build a nuclear bomb.

The U.S. and Europe want to deprive Iran of the oil income it needs to run its government and pay for the nuclear program. But many experts believe Iran will be able to find other buyers outside Europe.

The European Union announced last month it would ban the import of Iranian crude oil starting in July. The U.S. doesn’t buy Iranian oil, but last month it placed sanctions on Iran’s banks to make it harder for the nation to sell crude. The U.S., however, has delayed implementing those sanctions for at least six months because it is worried about sending oil prices higher at a time when the world economy is struggling. Iran exports about 3 percent of the world’s oil

The faster and more painfully sanctions can be seen to work, the better the case to shelve any plan by Israel to bomb Iran, a pre-emptory move that could ignite a new Mideast war. Taking this initial step against the Central Bank, the first time the U.S. has directly gone after that major institution, is one way the Obama administration can show momentum now.

Israel, meanwhile, has been increasingly open about its worry that Iran could be on the brink of a bomb by this summer and that this spring offers the last window to destroy bomb-related facilities. Many Israeli officials believe that sanctions only give time for Iran to move its nuclear program underground, out of reach of Israeli military strikes.

White House spokesman Jay Carney denied that Monday’s unexpected announcement of new banking sanctions was a sign of heightened worry about an Israeli attack.

“There has been a steady increase in our sanctions activity and this is part of that escalation,” he said.

Carney said U.S. sanctions on Iran are already squeezing Iran’s economy and have exacerbated tensions within the Iranian leadership.

“There is no question that the impact of the isolation on Iran and the economic sanctions on Iran have caused added turmoil within Iran,” he said.

Iran is the world’s third-largest exporter of crude oil, giving its leaders financial resources and leverage to withstand outside pressure. Last year, Iran generated $100 billion in revenue from oil, up from $20 billion a decade ago, according to IHS CERA, an energy consulting firm.

If Iranian oil is prevented from getting to market, other suppliers could make up the difference. The U.S. has been pressuring other Middle East and African nations to step up production for sale to Europe. Saudi Arabia has said it could increase production to make up for any lost Iranian crude.

Iran’s disputed nuclear program became a global concern more than five years ago, when the extent of the country’s research and uranium enrichment began to be known. Since then a web of international economic and other sanctions have failed to stop Iran’s progress toward a point when it could build one or more nuclear devices.

U.S. intelligence agencies say Iran is indeed close to that ability but has not yet decided to go ahead. Iran says its nuclear program is peaceful and denounces sanctions as aggression.

The new U.S. penalties were unexpected now. The sanctions were included as an amendment in the wide-ranging defense bill the president signed in late December, though when and how they were to be levied on Iran was unclear.

The White House had previously said it would take months to evaluate the likely effect on the fragile global economy before taking the next large steps, including new penalties on the Central Bank.

Now, U.S. institutions are required to seize Iranian state assets they come across, rather than rejecting the transaction involved.

The value of Iranian assets affected by the new order was not clear. Iran does almost no direct business with the United States after three decades of enmity, but its money moves through the world financial system and its oil is sold in dollars.

In a letter to Congress, Obama said more sanctions were warranted, “particularly in light of the deceptive practices of the Central Bank of Iran and other Iranian banks.”

He cited the hiding of transactions of people or institutions and other loopholes.

In an interview Sunday with NBC, Obama said the U.S. has “a very good estimate” of when Iran could complete a nuclear weapon, and he spoke favorably of the effect of sanctions and diplomacy to resolve the impasse.

Obama addressed the concern about Israel but suggested there is still time.

“I don’t think Israel has made a decision on what they need to do,” Obama said.

He did not answer a question about whether Israel has promised to notify the United States before any pre-emptory strike.

Republican presidential candidates have accused Obama of being too timid in his dealings with Iran, and while U.S. officials reject that characterization they acknowledge they are stepping cautiously because of fear of upsetting the global economy.

Comments (36)

  • shogun459
    Posted on February 7, 2012 at 4:35pm

    There seem to be strange parallels between our treatment of this Nuclear Threat, (self professed), and the Monty Pythons Spanish Inquisition.

    “They are Going Nuclear!”
    “Cardinal Fang! Get the COMFY CHAIR!”
    “It’s not working!”
    “Poke him with,,, the PLUSH PILLOWS!”
    “It’s not working!”
    “Maybe you’re not doing it right. Do it again until he breaks!”
    “It has no effect Sir”
    *** YEARS LATER ***
    “Again!”
    “Nothing.”
    “Again!”

    Report Post » shogun459  
    • shogun459
      Posted on February 7, 2012 at 4:36pm

      They are soo going to shoot me.

      Report Post » shogun459  
    • rose-ellen
      Posted on February 7, 2012 at 10:25pm

      The european zionist interlopers need more land.Hence they want genocide of muslim/arabs and iranians.Cranking up the war mongering is what the co-opted right wing is all about now in america.don’t matter how many people get their arms and legs blown off-the european zionists want more land! and they want it in the middle east!

      Report Post »  
  • Arshloch
    Posted on February 7, 2012 at 1:58pm

    Sanctions have NEVER worked, at any time or place. The only method to deal with roaches is to stomp on them until all movement has ceased.

    Report Post » Arshloch  
  • Gonzo
    Posted on February 7, 2012 at 9:25am

    If sanctions work, we wouldn’t be having this conversation.

    Report Post » Gonzo  
    • mils
      Posted on February 7, 2012 at 9:54am

      true…and china seems to like iran, an dlovew their oil…which ****** our “oh so powerless” governemnt off..

      what we do is just senseless paper pushing..iran is not afraid of us..it’s only wishful thinking on our part.

      Report Post »  
    • barnsy
      Posted on February 7, 2012 at 5:54pm

      Are these idiots for real?Sanctions dont work. As long as Russia,China,and India are trading with Iran what good are sanctions?Our naive man-child president needs to get a clue.Hes the biggest gutless wonder since Carter.

      Report Post » barnsy  
  • Tickdog
    Posted on February 7, 2012 at 9:15am

    Yawn… this has been going on for a while.. its really starting to bore me!

    Report Post » Tickdog  
  • TheLibertyScale
    Posted on February 7, 2012 at 8:55am

    You folks do realize, don’t you, that putting sanctions on a sovereign nation is an act of war, right? I‘m no fan of the mullah’s or Ahmadinejad but the US is pro vacating war here. Do we really need to be in a sixth war? U.S. interventionism is just making things worse.

    Pete-o
    Individual Liberty, Self Reliance

    Oh yea Ron Paul – 2012

    Report Post »  
    • Roaran
      Posted on February 7, 2012 at 11:08am

      Sanctions are just a means to an end, and the end is war with Iran. We’re being set up.

      Report Post »  
  • KidCharlemagne
    Posted on February 7, 2012 at 2:37am

    Looks to me like Iran is trying to break away from the trillions in counterfeit Federal Reserve Notes that Chairman Bernanke has been cranking out over the past few years:

    —————————————
    “Iran and Russia replaced the U.S. dollar with their national currencies in bilateral trade, Iran’s state-run Fars news agency reported, citing Seyed Reza Sajjadi, the Iranian ambassador in Moscow.

    The proposal to switch to the ruble and the rial was raised by Russian President Dmitry Medvedev at a meeting with his Iranian counterpart, Mahmoud Ahmadinejad, in Astana, Kazakhstan, of the Shanghai Cooperation Organization, the ambassador said.

    Iran has replaced the dollar in its oil trade with India, China and Japan, Fars reported. ”
    http://www.bloomberg.com/news/2012-01-07/iran-russia-replace-dollar-with-rial-ruble-in-trade-fars-says.html

    Looks like a military strike is needed to force them to go back on the US dollar once again.

    Either way though, gas prices are gonna’ start zooming up the charts again like a hit record.

    Report Post »  
    • SHOWMESTATEGUY
      Posted on February 7, 2012 at 3:28am

      Iran, China, Russia. Fascist, Communist, Fascist. The new axis of evil.

      Report Post »  
  • billy12
    Posted on February 7, 2012 at 1:55am

    Any one with a brain knows stricter sanctions do not work!? It is just pre-loading the gun before you shoot it!! Stock up on gas and food. ASAP!!

    Report Post »  
  • billy12
    Posted on February 7, 2012 at 1:49am

    We all know it is an election year!! and what happens when the man in office is facing defeat at the polls?? WAR!!!!!!!!

    Report Post »  
  • goodinohio
    Posted on February 7, 2012 at 12:54am

    Israel has over 300 nukes that we know of. U.S. has Iran surrounded with 45 military bases, who’s in fear?

    Report Post » goodinohio  
    • blamelessace5
      Posted on February 7, 2012 at 2:02am

      Thats funny because im showing a count of 150 10 that are on a stand by launch advised by U.S personell….. and 45 bases wow im showing to major ones in afghanistan …one in kuwait..and three more in pakistan that are under pakistani supervision….45 i think is bending the truth a bit dont cha think? i would rather a nation based on peace but is not afraid to protect itself to have nukes that are also advised over by U.S personell than a blood thirsty arab leader that stated that as soon as he got nuklear capability he was going to wipe isreal off the face of the map and wants to start a war???

      Report Post » blamelessace5  
  • neoconenemy
    Posted on February 6, 2012 at 11:47pm

    The Israeli/AIPAC bloodlust is unbounded. Personally, i think Israel is pushing hard for us to strike first because they have NO intention of striking Iran. When Israel needed to strike Syria and Iraq, they just went ahead and did it. I don’t recall them desperately needing our approval before they went ahead and bombed them. Here we go again with yet another war instigated by zionists. When will we ever learn?

    Report Post »  
    • blamelessace5
      Posted on February 7, 2012 at 2:10am

      bloodlust really??? need i remind u that isreal was invaded twice ! and beat back the arabs both times ?????? im pretty sure all they want is for obama to keep the alliance as it was before.

      Report Post » blamelessace5  
  • SpankDaMonkey
    Posted on February 6, 2012 at 10:54pm

    .
    I still think Adyknmyjaw is Tarzan & Cheeta’s Love Child…..

    Are you ready for WWIII?…..

    Isreal Strikes first then, we step in to help, then Russia & China, then………..

    Report Post » SpankDaMonkey  
  • carpee
    Posted on February 6, 2012 at 10:46pm

    iran is backed by china and russia.

    no financial sanction is going to stop them.

    Report Post »  
  • The-Monk
    Posted on February 6, 2012 at 10:26pm

    Compare this article with this one (link below) and do the math…..

    “Former member of Russian Joint Chiefs of Staff Colonel-General Leonid Ivashov appeared on Russia Today TV to boldly announce that Russia is “defending the entire world from Fascism” — waged, of course, by the U.S. and Israel — and that his country is ready to use military force to defend Iran and Syria from its aggressors. He added that an attack on Syria or Iran would be an indirect attack on Russia. The retired colonel also compared U.S. presence in Libya to Hitler and his armies’ aggression against Poland and later, Russia.”

    http://www.theblaze.com/stories/former-russian-gen-russia-is-defending-the-entire-world-from-fascism-is-ready-to-use-military-power-to-defend-iran-syria/

    Report Post » The-Monk  
  • The-Monk
    Posted on February 6, 2012 at 10:11pm

    “The new, stricter sanctions, authorized in legislation that President Barack Obama signed in December, will be enforced under an order he signed only now. They give U.S. banks new powers to freeze assets linked to the Iranian government and close loopholes that officials say Iran has used to move money despite earlier restrictions imposed by the U.S. and Europe.”

    So….our banks are going to freeze the monetary transactions of Iran between Russia and China? I don’t think so. This will bring Russia and China into further conflict with us. Looks like Obama is setting up WW3. Good thing he has that new bomb shelter under DIA. (Denver International Airport)

    Report Post » The-Monk  
    • carpee
      Posted on February 6, 2012 at 10:47pm

      all of the elite are prepared.

      i can’t figure out when the rapture is…but i pray its before this goes down.

      Report Post »  
    • The-Monk
      Posted on February 6, 2012 at 11:46pm

      @carpee
      I can’t decide if you are just a newbie on his 3rd post or a new troll. Either way… prepare to live or prepare to die. It’s your choice.

      Report Post » The-Monk  
  • jzs
    Posted on February 6, 2012 at 9:54pm

    Once the Tea Party is in charge, we won’t have any more of these silly discussions. We’ll just lay the country to waste with nuclear bombs and be done with it. Problem solved, God’s peace achieved.

    Report Post » jzs  
    • Banter
      Posted on February 6, 2012 at 10:39pm

      JZS

      You and I have gone a few rounds, and I generally accept you for what you are, a misguided progressive with an indoctrinated view of personal liberty. However, this post clearly shows you are beyond any rational discussion about what this country is truly about. Really bad move on your part to post this garbage.

      Report Post » Banter  
    • The-Monk
      Posted on February 6, 2012 at 10:43pm

      @Banter
      I wish his momma was around to scold him for being such an a55 but, a wish is not a fact. Hey! Mother of JZS! You out there? Your kid is being naughty again!

      Report Post » The-Monk  
  • GB__The Holy Warmonger
    Posted on February 6, 2012 at 9:43pm

    “U.S. intelligence agencies say Iran is indeed close to that ability but has not yet decided to go ahead.”

    “Now, U.S. institutions are required to seize Iranian state assets they come across, rather than rejecting the transaction involved.”

    These two sentences from the article seemed most significant to me. Are we trying to stop the nuclear weapons development or push it forward? How would we react if the situation were reversed?

    Report Post » GB__The Holy Warmonger  
  • TexBork
    Posted on February 6, 2012 at 9:40pm

    Did Hillary send Iran another sternly worded post card? Maybe she should send them a ceremonial “overcharge” button like she did with the Russians? Maybe that will work out as well with Iran as it did the Ruskies.

    Report Post » TexBork  
  • The-Monk
    Posted on February 6, 2012 at 10:37pm

    @wireman24
    Please don’t feed the trolls…..

    Report Post » The-Monk  
  • TSUNAMI-22
    Posted on February 6, 2012 at 11:01pm

    “If an enemy was attacking me I would defend my self but I would still be filling my heart with love for him.”
    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
    Isn’t that almost masochistic in nature? Sorry. I don‘t mean to imply that you’re a sexual deviant – I just couldn’t think of a better word to symbolize the apparent passive self-degradation.

    Report Post »  
  • The-Monk
    Posted on February 6, 2012 at 11:29pm

    @wireman24
    The least you could do is “reply” to the direct post so I could find it easier. But, then again, you’re a newbie who has only been posting here for about 3 months. No wonder you like fedding the trolls!

    Report Post » The-Monk  
  • portague
    Posted on February 7, 2012 at 12:04am

    “I have to say if there was such a thing as god i would hope he is not as hateful and vindictive as you people seem to be.”
    Ok mr peace the problem is iran been running around saying it wants to wipe isreal and the U.S. off the map for some time. A nuclear weapon puts them that much closer. There own islamic clerics in that region have been stating that is what the koran tells them to do. Do we take them at their word or ignore them. Thats a hell of game to play with people willing to kill their own.

    Report Post »  

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