Monday, July 05, 2010

Obama’s New Iran Sanctions: An Act of War

Shamus Cooke, Information Clearing House, July 4, 2010

When the UN refused to agree to the severe sanctions that the U.S. wanted, Obama responded with typical Bush flair and went solo. The new U.S. sanctions against Iran — signed into law by Obama on July 1st — are an unmistakable act of war.

If fully enforced, Iran’s economy will be potentially destroyed. The New York Times outlines the central parts of the sanctions:

“The law signed by Mr. Obama imposes penalties on foreign entities that sell refined petroleum to Iran or assist Iran with its domestic refining capacity. It also requires that American and foreign businesses that seek contracts with the United States government certify that they do not engage in prohibited business with Iran.” (July 1, 2010).

Iran must import the majority of its oil from foreign corporations and nations, since it does not have the technology needed to refine the fuel that it pumps from its soil. By cutting this refined oil off, the U.S. will be causing massive, irreparable damage to the Iranian economy — equalling an act of war.

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