Asia Times writes that on March 20, the US launched an offensive that will be every bit as devastating as an air assault.
As of Thursday, March 20 the US is at war with Iran. So who made it official?
A unit within the US Treasury Department, the Financial Crimes Enforcement Network (FinCEN), which issued a March 20 advisory to the world’s financial institutions under the title: “Guidance to financial institutions on the continuing money laundering threat involving illicit Iranian activity.”
FinCEN, though part of the chain of command, is better known to bankers and lawyers than to students of US foreign policy. Nevertheless, when the history of this newly declared war is one day written (assuming the war is allowed to proceed) FinCEN’s role will be as important as that played by US Central Command (CENTCOM) in directing the wars in Afghanistan and Iraq.
Invoking sanctions of this kind will cripple the country just like they did to Iraq.
If the US succeeds, an international quarantine on Iran’s banks would disrupt Iran’s financial linkages with the world by blocking its ability to process cross-border payments for goods and services exported and imported. Without those linkages, Iran is unlikely to be able to engage in global trade and commerce. As 30% of Iran’s gross domestic product in 2005 was imports of goods and services and 20% was non-oil exports (World Bank and other data), a large chunk of Iran’s economy would shrivel up. The repercussions will be painful and extend well beyond lost business and profits. For example, treating curable illnesses will become difficult. According to an Iranian Health Ministry official, Iran produces 95% of its own medicines but most pharmaceutical-related raw materials are imported.
It seems we are determined to forever be at war rather than invest in alternative sources of energy.
