American Consequences - May 2018

WHAT COULD POSSIBLY GO WRONG?

Financial follies and disaster in the making

member of the bank’s international division. In short, these sanctions have the potential to target any agreements signed by either of the two men, creating a strong disincentive for governments or businesses considering deals involving the country. The sanctions are also “secondary” – they apply to both American and non-U.S. companies and individuals – with more expected in the coming weeks. withdrawal leaves the door open for Iran to scrap the agreement and renew some nuclear programs. And many political analysts believe the action would be symbolic rather than provocative... a bargaining chip for future negotiations. A removal of Iran’s self-imposed enrichment limitations would be a breach of the agreement, but would still leave the country unable to produce weapons-grade uranium without further redevelopment of nuclear facilities... many of which are currently under satellite surveillance. So, what could possibly go wrong? Proponents of the deal claim that U.S.

U.S. withdraws from Iran nuclear deal...

This month President Donald Trump fulfilled his campaign promise to withdraw from the Iran nuclear deal, also known as the Joint Comprehensive Plan of Action (JCPOA). Calling the JCPOA “defective at its core,” he promised to impose the “highest level of economic sanctions” on the country. The decision upset key allies in Europe, some of whom had been urging Trump to reconsider. Russia and China even issued a joint statement declaring their “unwavering support” for the agreement. President Trump and critics of the deal say that Iran has continued to develop its nuclear program despite sanctions and inspections. And Israel’s prime minister, Benjamin Netanyahu, held a press conference where he presented a cache of documents he said prove Iran lied to the world about its nuclear enrichment and development programs. And days ago, U.S. Treasury Secretary Steven Mnuchin announced anti-terror sanctions against the governor of Iran’s central bank, as well as a

12 May 2018

Made with FlippingBook - Online magazine maker