The US Treasury is doing a great job on choking Iran
By Olivier Guitta
Financial pressure on Iran is gaining traction: as proved by this article from The Croissant:
The US strategy to put financial pressure on Iran seems to be getting substantial results.
Using a more discreet approach, pressure is being applied on banks, large multinationals dealing with Iran, in particular in the energy sector: in particular in Europe, Iran's main trading partner.
Regarding banks, the results are impressive: according to diplomats and economical experts, not a single European bank now ventures in financing large projects in Iran. “The Americans played their cards very smartly” says a diplomatic source in Paris.
Regarding multinationals, the US did not follow the strategy of the 1990’s of using a domestic law sanctioning companies (US and foreign with offices in the US) doing business with Iran. Instead they went directly to the foreign companies listed on Wall Street. They evoked sanctions, fines or the likely boycott from US pension funds. It is working, a French diplomat acknowledged: “it is very efficient. What can we do?”
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