Ali Alfoneh writes about why the current UN sanctions won’t work and devises a way in sanctions may be able to do some serious economic damages. The heart of Alfoneh’s essay is that the Iranian government has disguised its nationalized holdings by transferring much of its economic holdings to the Iranian Revolutionary Guards Corps (IRGC) which seems to act as a private company under the authority of President Ahmadinejad and Supreme Leader Ayatollah Khamenei. The problem with UN Security Council Resolution 1929 is that it does not sanction the IRGC enough. The sanctions actually leave the IRGC financial banking interests alone.
JRH 6/26/10
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