Israel Matzav

Sanctions that are destined to fail

In the Washington Times, Eli Lake exposes the Obama administration's latest sanctions plans. They look nothing like the picture.

President Obama for now is ruling out an aerial bombing campaign against Iranian nuclear facilities and is choosing instead to further isolate Iran from the international financial system.

The first target likely will be Iran's banks. Building on steps taken during the second term of the George W. Bush presidency, the Treasury Department likely will designate Iran's central bank as a terrorist-supporting entity.

The article goes on to explain how the Obama administration hopes to get the Chinese to play along. Even Israeli Central Bank Chairman Stanley Fischer has been recruited as part of the effort (somehow, I can't see Stanley threatening to cause the price of oil to skyrocket, which is the club that's been used to represent how Israel can skewer the World financial system by bombing Iran).

Bottom line: Paradoxically, so long as the goal is avoiding war (which is what the statement above represents) and not stopping Iran, war will be more likely. Without a credible military option behind them (and credible includes being seen as willing to use it), there is almost no chance that sanctions against Iran will have any effect.

What could go wrong?

posted by Carl in Jerusalem @ 5:17 AM