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Wednesday, July 15, 2015

Sanctions were never given a chance to stop Iran

If anyone out there still believes that there was no choice but to make a deal with Iran unless we were willing to go to war, please consider this from Bret Stephens:
All right: So the Iran deal is full of holes. Maybe it won’t work. Got any better ideas? Sanctions weren’t about to stop a determined regime, and we couldn’t have enforced them for much longer. Nobody wants to go to war to stop an Iranian bomb, not the American public and not even the Israelis. And conservatives, of all people, should know that foreign policy often amounts to a choice between evils. The best case for a nuclear deal is that it is the lesser evil.
Then again, serious sanctions were only imposed on Iran in November 2011. They cut the country’s oil exports by half, shut off its banking system from the rest of the world, sent the rial into free fall and caused the inflation rate to soar to 60%. By October 2013 Iran was six months away from a severe balance-of-payments crisis, according to estimates by the Foundation for Defense of Democracies. And that was only the first turn of the economic screw: Iran’s permitted oil exports could have been cut further; additional sanctions could have been imposed on the “charitable” foundations controlled by Iran’s political, military and clerical elite. Instead of turning the screw, Mr. Obama relieved the pressure the next month by signing on to the interim agreement now in force.
Read the whole thing. Sanctions were never given a chance.

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