LobeLog on Facebook   LobeLog on Facebook











Trump’s Iran Policy Is More about Rollback than Nukes

by Joshua Landis The renewed US offensive against Iran is not so much about its...

Message no image

Published on October 18th, 2011 | by Jasmin Ramsey

1

Bid for Sanctioning Iran’s Central Bank Gaining Steam Among U.S. lawmakers

While well-known U.S. hawks and neoconservatives are pushing for military strikes against Iran in response to the alleged “Iranian plot”, the Obama administration has been attempting to rally support from other countries for further punitive measures against Iran, such as sanctioning its central bank, Bank Markazi. If implemented the U.S. move could effectively block Iran from operating in the global financial system and potentially push the country into financial devastation. As indicated by some Iranian officials, the move could also be interpreted by the Islamic Republic as an act of war.

The idea of sanctioning Iran’s central bank has been touted among U.S. lawmakers since 2008 and was most recently floated in paper form among legislators in August in a letter co-sponsored by Sens. Mark Kirk (R., Ill.) and Charles Schumer (D., N.Y.).

Last week David Cohen, the Treasury undersecretary for terrorism and financial intelligence, told the Senate Committee on Banking, Housing, and Urban Affairs that

Further U.S. action against CBI, if it engenders multilateral support, could further isolate the CBI.   I can assure the Committee that the Administration will continue to carefully weigh the legal bases and policy ramifications of further action against the CBI, and we are committed to continuing to work with the Congress on this crucially important issue.

While claiming that the case against the Iranian government was “dead bang,” Senate Intelligence Committee Chairman Dianne Feinstein also expressed support for the bid during an interview on “Fox News Sunday” this past weekend.

Dianne Feinstein: I don’t think the sanctions have been as complete as they should be. I wish they had sanctioned the central bank of Iran and that would affect oil and maybe that’s why they didn’t do it, but that makes a big difference.

Chris Wallace: Is that what you would like to see now?

Dianne Feinstein: Yes.

Feinstein was one of more than 90 senators who signed the letter circulated by Kirk and Schumer in August.

Print Friendly, PDF & Email


One Response to Bid for Sanctioning Iran’s Central Bank Gaining Steam Among U.S. lawmakers

Show Comments >



  1. avatar scottindallas says:

    somehow, I’m skeptical that we will be able to stop Iran selling oil to China, India and Russia. we should look out for unintended consequences, the first that comes to mind, is that we might become more isolated, and become more delusional vis a vis Central Asia.


About the Author

avatar

Jasmin Ramsey is an Iranian-born journalist based in Washington, DC.



Back to Top ↑
  • Named after veteran journalist Jim Lobe, LobeLog provides daily expert perspectives on US foreign policy toward the Middle East through investigative reports and analyses from Washington to Tehran and beyond. It became the first weblog to receive the Arthur Ross Award for Distinguished Reporting and Analysis of Foreign Affairs from the American Academy of Diplomacy in 2015.

  • Categories

  • Subscribe

    Enter your email address to subscribe to our site and receive notifications of new posts by email.

  • Popular Posts

  • Comments Policy

    We value your opinion and encourage you to comment on our postings. To ensure a safe environment we will not publish comments that involve ad hominem attacks, racist, sexist or otherwise discriminatory language, or anything that is written solely for the purpose of slandering a person or subject.

    Excessively long comments may not be published due to their length. All comments are moderated. LobeLog does not publish comments with links.

    Thanks for reading and we look forward to hearing from you!