Amazing that in all the Iran madness, there hasn't been one well-thought out argument that we can coerce compliance with new sanctions.
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@emptywheel yes actually. Fear of Treasury's reach has been ingrained, particularly in the banks over the last couple years. -
@youbsanctioned But what new sanctions could you impose that would change calculus for Iran? -
@emptywheel If you managed to really force an economic crisis maybe you'd see them be more amenable to better terms. -
@youbsanctioned At which point the Europeans back away bc they put more stock in human rights for civilians? -
@emptywheel Banks don't care about human rights they care about shareholder value. -
@youbsanctioned@emptywheel and Commerzbank's stock was flat on the settlement announced yesterday; it's up today http://www.boerse-frankfurt.de/en/equities/commerzbank+ag+ag+DE000CBK1001 …
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@emptywheel and its the private sector that in large part makes the sanctions compliance decisions, not governments. -
@youbsanctioned@emptywheel "banks have 'become deputized' in the sanctions enforcement process, said Serena Moe" http://blogs.wsj.com/riskandcompliance/2014/02/05/ofac-rises-as-sanctions-become-a-major-policy-tool/ … -
@srubenfeld thats the former deputy chief counsel of OFAC@emptywheel
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