Obama signs order implementing tougher sanctions on Iran

Source: Press TV

President Obama on Tuesday signed an executive order tightening sanctions on Iran over its nuclear-enrichment program. The order implements a new Iran sanctions law enacted in August.

The White House said the administration’s actions “have created unprecedented pressure on Iran’s economy.”

Iran policy has become a focus of the presidential election this year. During a speech Monday at the Virginia Military Institute in Lexington, Va., GOP candidate Mitt Romney repeated accusations that Obama is too soft on Iran and too distant from Israel, which views Iran’s nuclear program as a threat to its existence.

Romney has called on Obama to draw a clearer red line for Iran. Critics of this view warn that it could bind the U.S. and force an armed intervention.

The Iran Threat Reduction and Syria Human Rights Act expands the list of those targeted by Iran sanctions, closes loopholes and enhances penalties.

Those targeted include anyone who works in Iran's petroleum sectors or provides goods, services, infrastructure, or technology to Iran's oil and natural gas sector, those who insure or re-insure investments in Iran's oil sector and those who transport refined petroleum to Iran.

This law also tries to stop Iran from repatriating revenue from oil. The Hill

FACTS and FIGURES

The United States has long barred U.S. firms from doing business with Iran, but last December adopted measures that forced international buyers of Iranian oil to cut their purchases. Economic Times

In August, a second package of sanctions added further restrictions for international banks, insurance companies and oil traders. Economic Times

The United States and Israel accuse Iran of having a secret nuclear weapons program and have threatened the country with military action.

Iran insists that its nuclear energy program pursues peaceful purposes only and has warned that it will harshly respond to any foreign attack. Iranian officials say they will reply to U.S. aggression by bombing all American bases throughout the Middle East.

A recent report by the Iran Project, a group of U.S. diplomats and military officials, concluded that U.S. strikes would provoke a war that would last years and cost the U.S. at the very least hundreds of billions of dollars per year.

Iran, as a signatory to the nuclear Non-Proliferation Treaty and a member of the International Atomic Energy Agency, says the nation is entitled to develop nuclear technology for civilian use.
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Panetta threatens 'most serious sanctions' against Iran

US Defense Secretary Leon Panetta (file photo)

Source: Press TV

US Defense Secretary Leon Panetta has threatened Iran with new, stronger economic sanctions over the Islamic Republic’s nuclear energy program.

Speaking at a media conference in Peru on Saturday, Panetta said Washington and its allies have reached an agreement “to impose probably the most serious sanctions, economic sanctions, that have been imposed on a nation.”

He said Iran should engage with the international community to try to resolve the West's standoff with the country and address their alleged concerns or face additional sanctions.

Panetta said the US and its allies are united in their efforts to stop Tehran’s uranium enrichment activities.

Washington’s sanction threats against Tehran are escalating despite the UN warning against the humanitarian ramifications of the embargoes.

On Friday, UN Secretary General Ban Ki-moon warned that the West’s embargoes against Iran have significantly targeted the livelihood of the ordinary Iranian population and led to shortage of necessary items, including medicine.

At the beginning of 2012, the United States and the European Union imposed new sanctions on Iran’s oil and financial sectors with the goal of preventing other countries from purchasing Iranian oil and conducting transactions with the Central Bank of Iran.

The sanctions came into force in early summer 2012.

The illegal US-engineered sanctions were imposed based on the unfounded accusation that Iran is pursuing non-civilian objectives in its nuclear energy program.

Iran rejects the allegations, arguing that as a committed signatory to the nuclear Non-Proliferation Treaty (NPT) and a member of the International Atomic Energy Agency (IAEA), it has the right to use nuclear technology for peaceful purposes.

In addition, the IAEA has conducted numerous inspections of Iran's nuclear facilities but has never found any evidence showing that Iran's civilian nuclear program has been diverted to nuclear weapons production.
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Financial Warfare: Destabilizing Iran’s Monetary System

By: Nile Bowie

Source: Global Research

Dramatic fluctuations of the Iranian rial triggered small protests among merchants in Tehran’s grand bazaar on October 3rd, 2012. In an attempt by authorities to prevent further devaluation, Iran’s central bank recently issued new limits on the amount of USD available for purchase at a subsidized rate, leading many to panic as the rial fell 40% against the dollar since the start of October. Although the demonstrations were economic in nature, many took advantage of the moment to voice their grievances against the political system, with many crediting President Ahmadinejad with overseeing fiscal mismanagement that has exacerbated Washington’s unceasing barrage of economic sanctions. Ahmadinejad’s political opponents also blame his administration for economic mismanagement, sentiment that is appearing more frequently among Iranian society.

While combating the challenges that economic sanctions represent is an arduous task for any government, it is important to recognize that these sanctions are not aimed against Iran’s government, but at its poor and merchant population. An unnamed US intelligence source cited by the Washington Post claims:

”In addition to the direct pressure sanctions exert on the regime’s ability to finance its priorities, another option here is that they will create hate and discontent at the street level so that the Iranian leaders realize that they need to change their ways.”

Washington has long engaged in psychological operations that aim to foment the kind of “hate and discontent” among Iran’s factory workers, merchants, shopkeepers, students, and manufacturers – as part of a series of measures taken to coax widespread social discontent and unrest throughout the country to topple the government.

For the average Iranian business owner and worker, US-led sanctions and currency devaluation have affected everyday transactions that provide paychecks and economic viability for millions of people. From urban shopkeepers to rural restaurant owners, many have been forced to close their businesses because they are unable profit from reselling imported goods purchased with dollars. Isolation from the global banking system has made it increasingly more difficult for Iranian students studying abroad to receive money from their families. Sanctions targeting Iran’s central bank aim to devastate the Iranian export economy, affecting everyone from oil exporters to carpet weavers and pistachio cultivators. By crippling people’s livelihoods and hindering their ability to pursue education and afford necessities such as food and medication, the Obama administration believes such measures will erode public confidence in the government and challenge its legitimacy.

Such policy is not only immoral, but exhibits the fraudulence and dishonesty of the United States toward the values of liberty and the pursuit of happiness it claims to represent. Although western media has gone to great lengths to depict Obama as being reluctant to endorse a tough stance on Iran, it is clear that Washington is quietly pursuing belligerent policy against Tehran – one that has alienated Iranians that seek reconciliation with the United States and greatly escalated tensions and the possibility of war. As demonstrated by the covert measures being taken against Tehran – including sabotage, cyber warfare, and targeted assassinations – Washington is fully committed to preventing Tehran’s independent technological, economic and political development. While US-led sanctions are intended to target all mechanisms necessary for international oil transactions, Iran continues to show defiance by pursuing diplomacy and mutually beneficial economic development with its energy hungry allies across Asia.

China has continued to purchase larger amounts of Iranian oil despite the sanctions regime. While the fledging European Union cuts its ties with Tehran, Beijing has moved closer with Iran to provide credit lines and consumer goods. Additionally, nations such as India, Malaysia and Japan have continued their energy imports from Iran – making efforts to internationally isolate Tehran increasing more difficult. Iran has actively engaged in the modernization of its energy infrastructure, including the construction of fifteen domestic pipelines throughout the country. Furthermore, Iranian firms are planning to construct an electrical power plant and a pipeline to provide energy to Pakistan. In the interest of pursuing mutually beneficially economic development, Tehran has sought further cooperation with its neighbors in Pakistan and Turkmenistan. Iran’s domestic investments emphasize the importance of developing the kind of trade and energy infrastructure needed to continue resistance to hegemony without being internationally isolated.

Tehran has pledged $25 billion to develop its Chabahar port, and an additional $4 billion of investment into several different ports around the country. The expanded trade and energy capabilities that would result from such investment would solidify Iran’s place in the global economy, and its seat among world powers. It is for this reason that “the threat of Iran developing nuclear weapons” is used as a stale pretext to enforce economic sanctions, despite a complete lack of evidence to implicate Iran with weaponizing its nuclear energy program. Tehran must be diligent in finding ways to manage its currency devaluation and economic growth – because of its natural resources and abundant energy wealth, the country is in a unique position to deflect international sanctions and use them to its advantage. By partnering with its international allies, Iran can bolster its domestic manufacturing industries and secure international markets for its products. Policy makers in Washington and Tel Aviv should remember that chess is an Iranian game.

Nile Bowie is a Kuala Lumpur-based American writer, video producer and frequent contributor to Global Research. He explores issues of terrorism, economics and geopolitics.
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Iran fighting economic, psychological war against West: Ahmadinejad

Iranian President Mahmoud Ahmadinejad speaks to journalists at a press conference in Tehran, Tuesday, October 2, 2012.

Source: Press TV

Iranian President Mahmoud Ahmadinejad has dismissed rumors of economic downturn in the Islamic Republic, saying the country is facing a tough economic and psychological war waged by the West.

“A clandestine, vast and heavy war has been waged [against Iran] on the global scale … and our colleagues in the Central Bank [of Iran] and other relevant bodies are working hard to find solutions … and this is a [real] battle,” Ahmadinejad told a press conference attended by domestic and foreign reporters in Tehran on Tuesday.

Pointing to the fluctuations in the currency markets in Iran, the president said, “Fluctuations [in the Iranian foreign exchange market] have not begun today. The market has been fluctuating for some time and these fluctuations have only gathered steam recently,” he said.

Ahmadinejad stated that the enemies have imposed embargos on Iran’s crude oil exports and banking transactions to make it difficult for the Islamic Republic to sell oil, as the country’s most important revenues source, or transfer the proceeds once oil is sold.

The Iranian chief executive emphasized that Iran would soon make up for a short decline caused by enemies in its oil exports.

“Keep in mind that it’s a battle. The enemy imagines that it can shatter the [will of] Iranian nation by [applying] such pressures and they may even make new decisions.”

He noted that the Iranian nation would overcome these pressures although the enemy continues to ratchet up the pressure.

“The pressures are not exerted on the governments alone, but are [exerted] on the nations too. All these [measures] constitute a psychological warfare and of course certain decisions have been taken. Of course, our people are calm. The enemy has thrown a stone at us, we have to lift it and throw it back at them.”

Ahmadinejad also played down the threats of military strike against the Islamic Republic, adding that such threats mostly represent a war of nerves rather than real intention to attack.

“The Zionist regime [of Israel] is after adventurism in a bid to win a chance. It wrongly imagines that it can acquire that chance by threatening Iran, but they are mistaken. Their time is over and they have to go away,” the Iranian chief executive said.

Ahmadinejad also pointed to relations between Iran and the US, saying that any talks between Tehran and Washington must be based on equal terms and mutual respect and the US must first correct its behavior toward Iran.