“… disconnecting Iran [from SWIFT] would isolate it almost completely from the global financial system and would have drastic and immediate consequences for the Iranian economy..”
This is the epicenter of the @NYTimes’ concerns.
“If the Trump administration goes ahead with this plan, it will have serious consequences for the United States as well.”
Similar warnings were made prior to Trump pulling out of the 2015 Iran nuclear deal.
“… this theoretical SWIFT alternative would not have the ability to conduct business in dollars or to access U.S. institutions and the U.S. financial system as a whole…”
“The EU has struggled to find a member state to host a new financial channel to shield trade with Iran from looming US sanctions, diplomats said, in the latest hurdle to the bloc’s efforts to save a landmark nuclear deal with Tehran.”
“Europe’s much-vaunted ‘special-purpose vehicle’ for trading around U.S. financial sanctions, announced last month, is expected to be little more than a glorified barter arrangement with limited scope.”
“Officials have said they are watching such engineering attempts closely, although few economists and officials in Europe believe such efforts will offer Tehran much in the way of sanctuary from American penalties immediately.”
“So far, her ‘vehicle’ is stuck in bureaucratic mud, unable to take off as European firms leave Iran in droves.”
Wasn’t it interesting how the @NYTimes itself has published numerous posts about the ridiculous nature of Europe’s “special purpose vehicle”?
@NYTimes argues the U.S. “needs European cooperation with its approach to pressuring Iran.”
NYT is advising we return to the Obama-years.
The world witnessed how #Iran’s regime took advantage of the highly flawed 2015 Iran nuclear deal, blueprinted mainly by the Obama/Kerry team, with the EU’s support & blessing.
And we have also witnessed how Tehran’s mullahs are crippling under Trump’s firm approach.