Iran places sanctions on U.S. defense companies for their support of Israeli ‘atrocities’ against Palestinians
While more of a symbolic gesture than one that will have actual economic consequences, on March 26 Iran issued sanctions against several U.S. defense companies for their supplying Israel with the arms that allegedly were a part of ‘atrocities’ committed against Palestinians in Gaza and the West Bank.
As with the counter sanctions Russia imposed upon Europe following the U.S.’s sanctioning of certain Russia individuals and agencies in the wake of the Ukrainian coup, Iran is following suit after the U.S. instituted their own petty sanctions on the Middle Eastern nation after claiming their missile tests violated the 2015 agreement set forth by former President Barack Obama.
Tehran has imposed sanctions on 15 US firms over their alleged backing of Israel and its perceived â€śatrocitiesâ€ť committed against Palestinians, according to a foreign ministry statement cited by the Iranian State Agency (IRNA).
â€śThe sanctioned companies have, directly and/or indirectly, been involved in the brutal atrocities committed by the Zionist regime in the occupied Palestinian territories,â€ťÂ the statementÂ said, as cited by the news agency.
The alleged actions, Tehran claims, violated UN Security Council Resolution 2334, which calls on Israel to stop its settlement expansions.
As a result, the US companies in question are prohibited from making any deals with Iranian firms, and former and current top management of the companies will not be eligible for Iranian visas.
Among the companies are major US defense contractor Raytheon, Re/Max Real Estate, gun manufacturer Magnum Research, defense and military equipment producer Oshkosh Corporation, and Elbit Systems. – Russia Today
Washington’s slow demise in power over the past 10 years has forced them to have to bypass the United Nations when it comes to sanctioning foreign governments as it is likely that both Russia and China would veto any attempt they might submit to have sanctions imposed via the global agency. Â And in utilizing this unilateral course of action, it has backfired in nearly every instance since nations not on board with the U.S. have constructed ways for sanctioned governments to get around U.S. economic and foreign policies such as the oil for gold program through Turkey, and of course the new partnerships between Russia and China that have actually strengthened Moscow rather than hindered them.
America is the world’s largest arms exporter, and any potential sanctions against these industries could have detrimental consequences to the U.S. economy. Â But that will only take place if other nations besides Iran join together and use the power of sanctions against America itself, otherwise yesterday’s move will simply be symbolic rhetoric meant to embarrass Washington, or boost popular support with the Iranian people.
Kenneth Schortgen JrÂ isÂ a writer for The Daily Economist, Secretsofthefed.com,Â Roguemoney.net, and Viral Liberty, and hostsÂ the popular youtube podcast on Mondays, Wednesdays and Fridays.Â Ken can alsoÂ be heard Wednesday afternoons giving an weekly economic report on theÂ Angel Clark radio show.