sanctions

1 April 2022News

Punishment sanctions actually reduce Russia’s incentive to end its war, argues Milan Rai

When Britain invaded Egypt in 1956 (in alliance with Israel and France), the US threatened to block attempts by Britain to borrow $561 million from the IMF and to get a $600m credit extension from the US Export-Import Bank. The US also threatened to sell its sterling bonds (tradeable IOUs issued in British pounds), which would have had a catastrophic effect.

These ‘financial warfare strikes’, and other pressures, forced Britain, within weeks, into a humiliating withdrawal.

If…

16 October 2012News

The Iranian nuclear crisis intensifies.

As US-led economic sanctions tighten around its economy, the Iranian government is once again indicating its willingness to negotiate a compromise over its nuclear programme.

On 12 October, foreign ministry spokesperson Ramin Mehmanparast said: 'Iran is ready to show flexibility to remove concerns within a legal framework' - he added: 'but such measures should be reciprocal'.