Sanctions against Iran: A promising struggle

Washington Quarterly

Volumn 31, Issue 3, 2008, Pages 69-88

  Jacobson, Michael ^a,b  

^a Washington Institute for Near East Policy   (United States)

^b United States Department of the Treasury   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 45749129712     PISSN: 0163660X     EISSN: 15309177     Source Type: Journal    
DOI: 10.1162/wash.2008.31.3.69     Document Type: Article

References (97)

1. Office of the Director of National Intelligence (DNI), "National Intelligence Estimate: Iran Nuclear Intentions and Capabilities," November 2007, http://www.dni.gov/press_releases/20071203_release.pdf (press release).
2. R. Nicholas Burns, "Minimizing Potential Threats From Iran: Assessing the Effectiveness of Current U.S. Sanctions on Iran" (testimony, Senate Committee on Banking, Housing, and Urban Affairs, March 21, 2007), http://www.state.gov/p/us/rm/2007/82033.htm.
3. "Iran Sanctions Would Backfire: Russia," ABC News Online, February 2, 2006, http://www.abc.net.au/news/newsitems/200602/ s1560438.htm.
4. Neil King Jr. and Marc Champion, "Nations' Rich Trade With Iran Is Hurdle for Sanctions Plan," Wall Street Journal, September 20, 2006, p. A1.
5. Timothy Garton Ash, "Faced With Iranian Blackmail, Europe Must Show Real Solidarity." Guardian, March 29, 2007, http://www.guardian.co.uk/commentisfree/2007/mar/29/comment.iran.
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7. Mark Gregory, "Companies in 'Oil for Food Scam,'" BBC News, November 19, 2004, http://news.bbc.co.uk/2/hi/middle_east/4025057.stm;
8. "Iraqi Children Starving Under Sanctions,' BBC News, November 27, 1997, http://news.bbc.co.uk/2/hi/35065.stm.
9. "Remarks by Treasury Secretary Paulson on Targeted Financial Measures to Protect Our National Security," HP-457, June 14, 2007, http://www.ustreas.gov/press/releases/hp457.htm (hereinafter Paulson remarks).
10. King and Champion, "Nations' Trade With Iran Is Hurdle for Sanctions Plan."
11. "Executive Orders 12957 - Prohibiting Certain Transactions With Respect to the Development of Iranian Petroleum Resources," Federal Register 60, no. 52 (March 17, 1995): 14613, http://www.ustreas.gov/offices/enforcement/ofac/legal/eo/12957.pdf.
12. King and Champion, "Nations' Trade With Iran Is Hurdle for Sanctions Plan."
13. Bay Fang, "Treasury Wields Financial Sanctions; United States Strategy Straddles the Line Between Diplomacy, Military Might," Chicago Tribune, April 23, 2007, p C1;
14. Robin Wright, "Iran Feels Pinch as Major Banks Curtail Business," Washington Post, March 26, 2007, http://www.washingtonpost.com/wp-dyn/content/article/2007/03/25/ AR2007032501084.html.
15. Stuart Levey, "A Current Assessment of Money Laundering and Terrorist Financing Threats and Countermeasures" (testimony, Senate Committee on Banking, Housing, and Urban Affairs, April 4, 2006), http://banking.senate.gov/public/_files/ACFFE06.pdf.
16. Stuart Levey, remarks before the 5th Annual Conference on Trade, Treasury and Cash Management in the Middle East, Dubai, March 7, 2007, http://www.treas.gov/press/releases/hp297.htm.
17. "Fact Sheet: Designation of Iranian Entities and Individuals for Proliferation Activities and Support for Terrorism," hp-644, October 25, 2007, http://www.ustreas.gov/press/releases/hp644.htm.
18. Stuart Levey, testimony before the Senate Committee on Banking, Housing and Urban Affairs, March 21, 2007, http://www.ustreas.gov/press/releases/ hp325.htm (hereinafter Levey 2007 Senate testimony).
19. Paulson remarks.
20. Ibid.
21. Burns, "Minimizing Potential Threats From Iran."
22. "Financial Crimes Enforcement Network; Amendment to the Bank Secrecy Act Regulations - Imposition of Special Measure Against Banco Delta Asia SARL," Federal Register 70, no. 181 (September 20, 2005): 55217, http://www.fincen.gov/notice_banco.pdf
23. Steven Weisman, "The Ripples of Punishing One Bank," New York Times, July 3, 2007, http://www.nytimes.com/2007/07/03/business/ worldbusiness/03bank.html.
24. Stuart Levey, remarks before the American Enterprise Institute for Public Policy Research, September 8, 2006, http://www.ustreas.gov/press/ releases/hp86.htm (hereinafter Levey 2006 AEI remarks).
25. "War on Terrorism: The Financial Front," Council on Foreign Relations, January 10, 2007, http://www.cfr.org/publication/12432/.
26. Steven Weisman, "The Ripples of Punishing One Bank," New York Times, July 3, 2007, http://www.nytimes.com/2007/07/03/business/ worldbusiness/03bank.html.
27. Foster Klug. "United States Urges Iran to Learn From N. Korea Sanctions," Associated Press, October 15, 2006.
28. Paulson remarks.
29. Mark Rice-Oxley, "United States Cautions Europe on Iran Investment," Christian Science Monitor, September 22, 2006, http://www.csmonitor.com/2006/0922/p07s01woeu.html.
30. Adam J. Szubin, testimony before the Senate Committee on Banking, Housing and Urban Affairs, September 12, 2006, http://www.treas.gov/ press/releases/hp92.htm.
31. Stephanie Kirschgaeesner, "Banks Braced for Fines," Financial Times, August 29, 2007, http://www.ft.com/cms/s/0/ 0527e010-5672-11dc-ab9c-0000779fd2ac.html.
32. Levey 2007 Senate testimony.
33. Fang, "Treasury Wields Financial Sanctions."
34. Stephanie Kirchgaessner and Peter Thal Larsen, "Lloyds TSB and Barchys in Sanctions Probe," Financial Times, March 5, 2008, http://search.ft.com/ ftArticle?queryText=peter+tha1+larsen+sanctions&aje=false&id= 080305000343&ct=0.
35. Michael Hirsh, "Emptying Iran's Pockets," Newsweek, January 11, 2007, http://www.newsweek.com/id/52575?tid=relatedcl.
36. Levey 2007 Senate testimony.
37. Paulson remarks.
38. Dafna Linzer, "United States Urges Financial Sanctions on Iran," Washington Post, May 26, 2006, http://www.washingtonpost.com/wp-dyn/content/article/2006/05/28/ AR2006052800999.html.
39. Levey 2007 Senate testimony.
40. United Nations (UN) Security Council Resolution 1737, S/RES/1737 (2006), December 23, 2006, http://daccessdds.un.org/doc/UNDOC/GEN/N06/681/42/PDF/ N0668142.pdf?OpenElement.
41. UN Security Council Resolution 1747, S/RES/1747 (2007), March 24, 2007, http://daccessdds.un.org/doc/UNDOC/GEN/N07/281/40/PDF/ N0728140.pdf?OpenElement.
42. UN Security Council Resolution 1803, S/RES/1803 (2008), March 3, 2008, http://daccessdds.un.org/doc/UNDOC/GEN/N08/257/81/PDF/ N0825781.pdf?OpenElement.
43. Matthew Lee, "New Iran Nuclear Sanctions Delayed," Associated Press, September 28, 2007, http://www.usatoday.com/news/washington/ 2007-09-28-3591335936_x.htm.
44. Farah Stockman, "Bush Bid to Punish Iranian Banks Stalls," Boston Globe, December 18, 2007, http://www.iht.com/articles/ 2007/12/18/africa/sanctions.php.
45. Steven Weismann, "World Group Tells Banks to Beware Deals With Iran," New York Times, February 29, 2008, http://www.nytimes.com/2008/02/29/world/middleeast/ 29sanctions.html?ref=todayspaper.
46. David Blair, "Banks Recruited to Wage Financial War on Teheran," Telegraph, September 18, 2007, http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2007/ 09/18/wiran218.xml.
47. Roula Khalaf, Simeon Kerry, and Daniel Dombey, "Dubai Reacts to United States Pressure on Iran," Financial Times, December 20, 2007, http://us.ft.com/ftgateway/ superpage.ft?news_id=fto122020071454599391;
48. "Chinese Banks Cut Back Business With Iran - Paper," Reuters, February 2, 2008, http://in.reuters.com/article/business-News/ idINIndia-31733220080202.
49. Wright, "Iran Feels Pinch as Major Banks Curtail Business."
50. Steven Weismann, "Oversight Group Warns World About Iran's Banking System," International Herald Tribune, February 28, 2008, http://www.iht.com/articles/2008/02/28/asia/iran.php.
51. Rice-Oxley, "United States Cautions Europe on Iran Investment."
52. Paul de Bendern, "U.S.'s Burns Wants Businesses to Cut Iran Ties," Reuters, September 19, 2007, http://www.reuters.com/article/ newsOne/idUSL1991973320070919.
53. "Iranian Firms Feel the Heat as Sanctions Bite," Reuters, September 26, 2007, http://www.reuters.com/article/topNews/ idUSBLA94936220070926.
54. Wright, "Iran Feels Pinch as Major Banks Curtail Business";
55. Blair, "Banks Recruited to Wage Financial War on Tehran."
56. Blair, "Banks Recruited to Wage Financial War on Tehran."
57. Najmeh Bozorgmehr and Daniel Dombey, "Iranian Bank Shrugs Off Cost of United States Sanctions," Financial Times, January 4, 2008, http://us.ft.com/ftgateway/ superpage.ft?news_id=fto010420081741080706&page=2.
58. Wright, "Iran Feels Pinch as Major Banks Curtail Business."
59. "The Big Squeeze," Economist, July 19, 2007, http://www.economist.com/specialreports/ displaystory.cfm?story_id=9466874.
60. Barbara Slavin, "Iran's Economic Conditions Deteriorate," USA Today, February 6, 2007, http://www.usatoday.com/news/world/ 2007-02-06-iran-economy_x.htm.
61. "Big Squeeze."
62. Weismann, "Oversight Group Warns World About Iran's Banking System."
63. See J. C. Sharman, "International Organizations and Implementation by Blacklisting" (paper, International Studies Association 48th Annual Convention, Chicago, February 28, 2007).
64. Neil King Jr., "China-Iran Trade Surge Vexes United States," Wall Street Journal, July 27, 2007, p. A1.
65. Council on Foreign Relations, "Bolurfrushan: Bank Pressures Hit Iranian Business Harder Than Sanctions," April 25, 2007, http://www.cfr.org/publication/13179/ bolurfrushan.html?breadcrumb=%2Fbios%2F12286%2Flee_hudson_teslik.
66. John Irish, "Dubai Becomes Iran's Business Hub," Middle East Times, March 21, 2007, http://meo.tv/english/?id=20081.
67. Simeon Kerr and Najmeh Bozorgmehr, "Gulf States Plan Trade Talks With Iran," Financial Times, September 17, 2007, http://us.ft.com/ftgateway/superpage.ft?news_id=fto091720071314273688;
68. Najmeh Bozorgmehr and Simeon Kerr, "UAE Detains Ship as Grip on Tehran Tightens," Financial Times, November 30, 2007, http://us.ft.com/ftgateway/superpage.ft?news_id=fto112920072112485932.
69. Farnaz Fassihi and Chip Cummins, "Iranians Scheme to Elude Sanctions," Wall Street Journal, February 13, 2008, p. A1.
70. Rachel Bayefsky, "European Companies Brokering Deals With Iran Despite U.S. Stance," Market Watch, July 12, 2007, http://www.marketwatch.com/news/story/ european-companies-brokering-deals-iran/ story.aspx?guid=%7bF50A93DC-D312-4871-9E07-E24CE66A6882% 7d&dist=TQP_Mod_mktwN&print=true&dist=printTop.
71. George Jahn, "Iran Starts Up Advanced Centrifuges," Associated Press, February 7, 2008, http://abcnews.go.com/International/ wireStory?id=4258829.
72. Mark Heinrich, "No Proof Iran Running 3,000 Centrifuges: Diplomats," Reuters, September 4, 2007, http://www.reuters.com/ article/newsOne/idUSL0479215320070904.
73. Ibid.
74. "Iran Leader Vows Never to Stop Enrichment," Associated Press, February 12, 2008, http://www.cbsnews.com/stories/2008/02/12/world/ main3820198.shtml.
75. Patrick Clawson and Mehdi Khalaji, "Ahmadinezhad's Power Slipping in Iran," PolicyWatch, no. 1281 (September.6, 2007), http://www.washingtoninstitute.org/templateC05.php?CID=2657.
76. Ibid.
77. Ibid.
78. Hirsch, "Putting the Squeeze on Iran."
79. Barbara Slavin, "Iranian Shakeup a Setback for Hardline Leader," USA Today, September 6, 2607, http://www.usatoday.com/news/world/2007-09-04-iran_N.htm.
80. Office of the DNI, "National Intelligence Estimate: Iran."
81. EU official, interview with author, Brussels, September 2007.
82. Emmanuel Ottolenghi, briefing at Washington Institute for Near East Policy, Washington, D.C., December 17, 2007.
83. Benjamin Weinthal, "The German Connection," Ha'aretz, November 22, 2007, http://www.haaretz.com/hasen/spages/927175.html.
84. "Berlin Says United States and France Guilty of Hypocrisy," Der Spiegel, September 24, 2007, http://www.spiegel.de/ international/world/0,1518,507443,00.html.
85. Warren Hoge, "Sudan Flying Arms to Darfur, Panel Reports," New York Times, April 18, 2007, http://www.nytimes.com/2007/04/ 18/world/africa/18sudan.html.
86. See Michael Jacobson "Pressure Gauges," Guardian, January 16, 2008, http://commentisfree.guardian.co.uk/michael_jacobson/ 2008/01/pressure_gauges.html.
87. Economist, "Capital City," October 19, 2006, http://www.economist.com/finance/displaystory.cfm?story_id=8058157;
88. Heather Timmons, "London: Financial Capital of the Universe?" New York Times, October 26, 2006, http://www.iht.com/articles/ 2006/10/26/business/london.php;
89. Mark Yeandle, Michael-Mainelli, and Adrian Berendt, "The Competitive Position of London as a Global Financial Centre," Corporation of London, November 2005, http://www.zyen.com/Knowledge/Research/LCGFC.pdf.
90. See Michael Jacobson, "Iran and the Road Ahead," PolicyWatch, no. 1350 (March 6, 2008), http://www.washingtoninstitute.org/templateC05.php?CID=2726.
91. Robert M. Kimmitt, remarks to the Soref Symposium, Washington Institute for Near East Policy, May 10, 2007, http://www.treas.gov/press/releases/ hp397.htm (role of finance in combating national security threats).
92. Michael Jacobson, "Constraining Iran the Financial Way," Beirut Daily Star, April 27, 2007, http://www.washingtoninstitute.org/templateC06.php?CID=1048.
93. Janice Gardner, testimony before the Senate Appropriations Subcommittee on Transportation, Treasury, the Judiciary, Housing and Urban Development, and Related Agencies, April 6, 2006, http://treas.gov/press/ releases/js4164.htm.
94. Paulson remarks.
95. David Lawder and Carol Giacomo, "United States Lawmakers Urge More Financial Sanctions on Iran," Reuters, August 18, 2007, http://www.reuters.com/article/topNews/idUSN1820587220070418.
96. Burns, "Minimizing Potential Threats From Iran."
97. Levey 2006 AEI remarks.