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US, Europe eye risky, unprecedented penalty for Iran over pursuit of nuclear weapons

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  • US, Europe eye risky, unprecedented penalty for Iran over pursuit of nuclear weapons

    US, Europe eye risky, unprecedented penalty for Iran over pursuit of nuclear weapons

    Associated Press - February 15, 2012 -

    WASHINGTON The United States and Europe are considering unprecedented punishment against Iran that could immediately cripple the country's financial lifeline. But it's an extreme option in the banking world that would come with its own costs.

    The Obama administration wants Iran evicted from SWIFT, an independent financial clearinghouse that is crucial to the country's overseas oil sales. That would leapfrog the current slow-pressure campaign of sanctions aimed at persuading Iran to drop what the U.S. and its allies contend is a drive toward developing and building nuclear weapons. It also perhaps would buy time for the U.S. to persuade Israel not to launch a pre-emptive military strike on Iran this spring.

    The last-resort financial effort suggests the U.S. and Europe are grasping for ways to show immediate results because economic sanctions have so far failed to force Iran back to nuclear talks.

    But such a penalty could send oil prices soaring when many of the world's economies are still frail. It also could hurt ordinary Iranians and undercut the reputation of SWIFT, a banking hub used by virtually every nation and corporation around the world. The organization's full name is the Society for Worldwide Interbank Financial Telecommunications.

    Meanwhile, violence is increasing. Explosions in Bangkok on Tuesday -- Israel's defense minister labeled them an "attempted terrorist attack" -- came the day after Israel accused Iran of trying to kill its diplomats in India and Georgia. Those attacks followed the recent killings of Iranian scientists.


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  • #2
    You know what I hear when I read articles like this concerning the United States actions against Iran and Iran's threads against the great Satan?

    I hear the same thing we all hear when Charlie Brown's teacher is talking to him.

    Until something happens, it's all the boy who cried wolf to me and has been for a very long time.


    • #3
      Ohhhhhhhh, "tough sanctions by Obama" scary stuff there. Of course they have to throw into the story this could cause the price of gasoline to soar. That's just another suddle sign from the press to do nothing I guess?
      Jesus is coming now at "Any Moment"! Are you ready?

      Romans 10:9 That if you confess with your mouth, "Jesus is Lord," and believe in your heart that God raised him from the dead, you will be saved.

      Praying for the Peace of Jerusalem. Amen.