According to the Iran bank Chief of Bank Mellat, the US financial sanctions are not proving to be effective. The bank Chief stated that there was a perceived problem because of the US sanction. However he continued and said, “in practice there was no halt to our operations.”
The Iranian bank commented that they are still doing business with a number of international banks including but not limited to Asian, African, and European banks.
With this information, I can’t help but ask the question – just how effective are US financial sanctions on Iran? There is the distinct possibility that the bank chief was minimizing the effect the sanction has had on business. Honestly, why would a state run bank admit that United States sanctions are proving to be effective. Their goal in making said announcement is to give the illusion of prosperity and safety. I believe that the United States sanctions are yielding satisfactory results. In theory, there is no way that any entity could function at full capacity if they formerly relied on United States business but can no longer have access to that business.
I leave the question to you – are United States financial sanctions enough to solve the Uranium enrichment problem with Iran? Is there anything else that the United States could be doing to help persuade Iran to cooperate?
