‘Caesar Act' sanctions hit Beirut, as pound sinks to 5,000 a $
“Our currency will plunge like Syria's. This is a disaster for our gov, said a Lebanese banker. “They will sanction Lebanese traders & banks. We can no longer trade w Syria. We’re doomed.”
theguardian.com/world/2020/jun…
“Our currency will plunge like Syria's. This is a disaster for our gov, said a Lebanese banker. “They will sanction Lebanese traders & banks. We can no longer trade w Syria. We’re doomed.”
theguardian.com/world/2020/jun…
“In their rush to get Bashar and Khamenei, the US are forgetting who their friends are,” said one Lebanese minister. “Their ideological drive leaves them numb to the suffering of real people.”
The parallel plunges are being used by some US officials to claim that both governments are co-dependent – and therefore warrant the same approach.
US special envoy for Syria, James Jeffrey claimed that the crumbling Syrian currency was partly due to US actions.
US special envoy for Syria, James Jeffrey claimed that the crumbling Syrian currency was partly due to US actions.
The dominant regional focus of Iran hawks in the Trump administration, who believe their policy of “maximum pressure” is fatally undermining Tehran and its networks, the most prominent of which – Hezbollah – holds a whip hand in the Lebanese government.
But a string of crises partly fuelled by US strategy are adding to the burden of millions across the region: Lebanon is facing full-blown economic implosion and rousing civil unrest; Iraq, meanwhile is combating low oil prices and crumbling revenues elsewhere.
Julien Barnes-Dacey: “My fear is that Caesar will achieve the exact opposite of its stated goals.... The Syrian people have been brutalised for a decade now and the country is devastated by conflict but we appear to be staring into a devastating new unravelling.”
