Bush's bid to punish Iranian banks stalls

[rodeodance]

Source: The Boston Globe





Bush's bid to punish Iranian banks stalls

Farah Stockman | Washington | December 18

The Boston Globe <1> - The Bush administration's new policy of penalizing Iranian banks is facing a critical challenge as financial institutions in Russia, China and much of the Middle East decline to cut ties, analysts and diplomats say.

Even Afghanistan and Iraq have so far declined to take action against Bank Melli, Iran's largest public financial institution, which was among the first foreign banks to open branches in Kabul and Baghdad.

"Nothing is happening," Sinan Shabibi, governor of the Central Bank of Iraq, said recently by telephone.

The world reaction to the U.S. sanctions on Bank Melli, which operates as Iran's central bank overseas, will determine whether President George W. Bush's new tool against Iran is a failure or a success, analysts say.

U.S. officials say they have seen progress since they blacklisted Bank Melli, Bank Mellat, and Bank Saderat in October. Banks in Japan, India and Europe have quietly followed suit.

Read more: http://agonist.org/node/48425/print

[Javaman]

1. banks, huh? could this be because Iran has stopped trading in dollars for their oil?

lord pissy mcbunny pants* has got his underwear in a wad?

[HuffleClaw]

2. bwhahahahhahaaaaaa

hilarious.