Here’s the thing about sanctions: they don’t work. We are where we are right now precisely because we have policed the world through sanctions for so long.
Many experts and analysts try to paint this complex picture of geopolitical affairs to explain the current ongoing crises across the globe.
However, all of the ongoing trouble can be traced back to one specific incident—kicking Russia out of the SWIFT system.
SWIFT is the international messaging protocol and standard used to shift U.S. dollar reserves all over the planet. Without access to SWIFT a particular country’s dollar reserves are completely useless.
If the Biden administration did not decide to do this then the war between Russia and Ukraine likely would have been contained.
It would have simply represented yet another proxy conflict between world powers. Instead, we now have every government in the world asking: are we next on the sanctions list?
What is the point of accumulating the global reserve currency for decades if that money could be turned off in an instant at any moment in time?
The power of the almighty dollar is not-so-quietly imploding because of this, as can be witnessed by the advent of BRICS and alternative currency systems.
Now, the Biden administration and the UK government have announced new sanctions against Iran for their recent counter-attack against Israel.
The newly announced sanctions will reportedly impact 16 individuals and five entities linked to Iran’s military-industrial complex. Here’s what we currently know:
EU leaders back New Iran sanctions after Israel attack pic.twitter.com/0w4ZqT0Dq6
— The Epoch Times (@EpochTimes) April 18, 2024
The EU🇪🇺 is expressing horror and tightening sanctions on Iran🇮🇷 for its retaliatory strike on Israel which killed no one…
Yet EU leaders haven’t even thought of sanctions against Israel, which has killed 33,970+ Palestinians in Gaza…
More coverage: https://t.co/qjt9cBifG7 pic.twitter.com/iY8Wo8HURH
— Afshin Rattansi (@afshinrattansi) April 18, 2024
The Associated Press provided more details:
OFAC also sanctioned five firms involved in steel production and three subsidiaries of Iranian automaker Bahman Group — which is accused of materially supporting Iran’s military and other sanctioned groups.
A representative from Bahman was not immediately available for comment.
Despite this, Iran is experiencing record oil sales: “Iran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost even as Western countries discuss stepping up sanctions in response to its attack on Israel.”
Iran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost even as western countries discuss stepping up sanctions in response to its attack on Israel. https://t.co/zBznFsahin
— zerohedge (@zerohedge) April 18, 2024
Due to existing sanctions and a heavily oil-dependent economy, experts doubt Iran can afford a full-blown war with Israel and its allies. pic.twitter.com/Yc1eOd228p
— DW News (@dwnews) April 18, 2024
Just The News quoted Treasury Secretary Janet Yellen:
“We’re using Treasury’s economic tools to degrade and disrupt key aspects of Iran’s malign activity, including its UAV program and the revenue the regime generates to support its terrorism.”
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