Bush's bid to Punish Iranian Banks Stalls
By Farah Stockman The Boston GlobePublished: December 18, 2007
WASHINGTON: The Bush administration's new policy of penalizing Iranian banks is facing a critical challenge as financial institutions in Russia, China and much of the Middle East decline to cut ties, analysts and diplomats say.
Even Afghanistan and Iraq have so far declined to take action against Bank Melli, Iran's largest public financial institution, which was among the first foreign banks to open branches in Kabul and Baghdad.
"Nothing is happening," Sinan Shabibi, governor of the Central Bank of Iraq, said recently by telephone.
The world reaction to the U.S. sanctions on Bank Melli, which operates as Iran's central bank overseas, will determine whether President George W. Bush's new tool against Iran is a failure or a success.
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If world refusals mean NO WAR in Iran, so be it.
2007-12-19
13:05:07
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