“Banking” On More Misery

This story (borrowed from the New York Times last Sunday), noted that U.S. sanctions against Iran have forced the World Bank “to suspend payments for earthquake relief, sanitation and other projects there in response to new American sanctions on leading Iranian banks, World Bank officials say.”

I’ve never seen any evidence that sanctions ever accomplish their intended purpose, which is to punish a regime or individual acting against our interests, and I don’t mean here to initiate a debate on how wrong headed those interests often are.

And besides, the story notes the following…

The (U.N.) Security Council has adopted two resolutions, one last year and another this year, calling on a freeze of assets in Iran deemed to be linked to its nuclear and ballistic missile programs. The aim of the resolutions is to get Iran to suspend its uranium enrichment activities, which Western experts say are part of a secret program to make a nuclear bomb.

Only one Iranian bank, Bank Sepah, has been identified by the Security Council as involved in nuclear and ballistic missile programs. According to information circulating among members of the Security Council, the bank has all but ceased to function.

Bank Saderat, Bank Melli and Bank Mellat have been listed only by the United States. But Western diplomats, citing official information circulating in Europe and the United States, say that most major banks in Europe have ceased working or are winding down their business with them.

In addition, the diplomats said the Dutch, French, Italian and German governments had begun reducing their state credits promoting trade with Iran. The Bush administration, however, is pressing them to do more.

As I read this, I wondered why we couldn’t allow other countries to scale back their business with the affected Iranian banks without implementing sanctions against the banks, even when it looks like the Dutch, French, Italian and German governments are acting independent of us anyway. This way, we could still allow funds into Iran for humanitarian projects.

But more fool me I guess to think that Bushco will ever learn that, by trying to squash a people into the dust by cutting off the means for their recovery, the only thing they’ll end up doing is planting the seeds of more terrorism.

Bombs and sophisticated weaponry are ultimately useless when those are the only means at your disposal while trying to defeat an idea (my “deep thought” for the day).