By April Camp
If countries were Facebook pages, Iran’s oil industry would have the most friends and adversely one push of the theoretical “dislike” button wouldn’t be enough for most western nations.
The U.S. announced this week it will impose another round of sanctions on Iran’s financial and energy sectors.
The sanctions are in response to a report filed by the International Atomic Energy Agency earlier this month, which claimed to have intelligence that Iran is secretly building nuclear weapons.
Iranian officials have refuted any involvement in building nuclear weapons arguing it is within the nation’s rights to research nuclear power as a signatory state of the Nuclear Non-Proliferation Treaty.
Canada and the United Kingdom will cut ties to Iran’s Central Bank and halt exports to the nation’s oil and gas industries.
Al-Jazeera reported Wednesday, “The US named Iran as an area of “primary money-laundering concern,” a step designed to dissuade non-US banks from dealing with it; blacklisted 11 entities suspected of aiding its nuclear programmes; and expanded sanctions to target companies that aid its oil and petrochemical industries.”
According to Al-Jazeera, the U.S. feared going too far.
“The US stopped short of targeting Iran’s central bank, a step that could have cut it off from the global financial system, sent oil prices skyrocketing and jeopardized the economic recovery in the US and Europe.
CNN reported Wednesday, “U.S. officials had been considering action against the Central Bank of Iran but became concerned that a full sanction could have a negative effect on the world economy because of the potential impact on oil prices.”
CNN also reported the IAEA issued a resolution expressing concern about Iran, but did not threaten action against its nuclear programs.
Iranian officials have been quite vocal on PressTV that any threat of a strike by western nations would be met with a fight not confined to the middle east.
Al-Jazeera presents a side of the story that shows the United States only concerned about what certain sanctions would do to the U.S. economy, while CNN presents that same argument from another angle. An angle that shows the U.S. concerned about the global economy. Which one is right? Well, it’s hard to tell. It’s undeniable that we live in a global economy,which can have a domino effect when something goes awry. As for nuclear weapons, you may be hard pressed to find someone gung-ho about going to war over “Weapons of Mass Destruction” after the devastating effects the Iraq war had on the world.
Right now, the nations involved in the sanctions are barking at each other, but I certainly hope the United States doesn’t jump into any more wars soon.