Divest from Iran

No doubt the sanctions imposed by the United Nations Security Council in late December are too weak to force Iran to abandon its nuclear ambitions. But, as the NY Times reports today, what could make a real difference is the oustanding job done by financial institutions and other private sector "street fighters" to cut ties with Iranian businesses and individuals beyond those involved in its nuclear and missile programs. The most notable of these efforts is Divest Terror organized by the Center for Security Policy in Washington. The results of the collective work are beginning to show. Last month, the Japan Bank for International Cooperation announced that it would not issue any new loans for Iranian projects until Iran resolved the nuclear impasse with the West. The Iranian economy is suffering a great deal as a result of the economic punishment. In a rare acknowledgment of difficulty, the Iranian oil minister, Kazem Vaziri-Hamaneh, told the ministry’s news agency, Shana, recently that Iran was encountering obstacles in financing oil projects. “Currently, overseas banks and financiers have decreased their cooperation”. For the Iranian nuclear program death will only be caused by a thousand cuts.