Sanctions on Iran seen as ineffective

United States, Britain and Canada announce additional sanctions on Iran's financial sector as previous ones were futile.

22 November 2011, 12:00am

1 min read

Western states announce new sanctions on Iran's financial and energy sectors

Sanctions imposed on Iran against the Islamic republic were announced by the United States, Britain and Canada as liable and futile.

Washington, London and Ottawa said they were levelling additional sanctions on Iran’s financial sector. This was done as a result of a report from the UN atomic energy supervisory body saying that Tehran was researching nuclear weapons.

The United States was pressuring Iran’s energy sector directly for the first time according to US Secretary of State Hillary Clinton who added there had to be consequences for such behaviour.

The measures targeting Iran’s central bank and the vital energy sector sought to limit the West’s links with Iran’s Central Bank. The links had been crucial to funnelling proceeds of energy to Iran’s government.

Around 70% of the government’s budget is thought to be made of Iran’s energy sales crucial to the broader Iranian economy.

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As long as the two usual countries, who always go against the flow (Russia and China) sanctions from elsewhere are a pointless waste of time. Personally, I doubt if Iran IS making "the bomb", if they get one, they can't use it because they know too full well it would be totally suicidal.