economic sanctions Seeman calls for economic sanctions against Sri Lanka By www.thehindu.com Published On :: Mon, 11 Nov 2024 18:53:26 +0530 Full Article Madurai
economic sanctions Justin Trudeau should lift Canada's economic sanctions now By feedproxy.google.com Published On :: Fri, 08 May 2020 00:09:19 +0000 Ken StoneOn March 23, UN Secretary-General António Guterres appealed to G20 leaders: "I am encouraging the waiving of (economic) sanctions imposed on countries to ensure access to food, essential health supplies, and COVID-19 medical support. This is the time for solidarity not exclusion ... Let us remember that we are only as strong as the weakest health system in our interconnected world." At the same time, AP News reported, ambassadors of eight countries currently affected by economic sanctions -- namely, Cuba, Iran, Venezuela, Syria, Nicaragua, China, Russia and North Korea -- petitioned the secretary-general for "the immediate and complete lifting of those measures to enable nations to respond to the coronavirus pandemic." Regrettably, so far the wealthy and powerful countries of the world haven't heeded the secretary-general's call to loosen the screws on the weaker and poorer ones. They also ignored a similar appeal by Pope Francis in his Easter address. On the contrary, President Trump actually weaponized the pandemic by instituting further sanctions on both Iran and Venezuela, countries already targeted for regime change. In Canada, however, two peace groups, the Hamilton Coalition to Stop the War and le Mouvement Québécois pour la paix, sent an open letter signed by 100 prominent Canadians to Trudeau asking him to lift all of Canada's economic sanctions now. Unknown to most Canadians, Trudeau's government maintains economic sanctions regimes against 20 countries of the world, including nine African countries. In fact, under the Harper government in Ottawa in June 2013, Canada co-ordinated economic sanctions for the U.S.-led coalition of countries participating in the regime change operation against Syria. Similarly, under the Trudeau government, Canada helped lead the Lima Group in organizing multilateral sanctions against Venezuela. Canada typically applies five types of sanctions: arms embargoes, asset freezes, import-export restrictions, financial prohibitions and technical assistance prohibitions. Not all sanctioned countries feel the full weight of all five. However, some countries do: Iran, Syria, North Korea and Libya. The effect on the targeted country is crippling. The first result is usually a drastic decline in its currency's value, which translates into ordinary people being unable to put food on the table for their children. Then follow other crises for working people: unemployment due to closing markets for the country's exports and the inability to get spare parts; inability to receive payments from relatives abroad because the international banking system excludes the targeted country; the closing down of whole industries, such as tourism, because access to credit cards or even air access to national airports, as in the case of Syria, is turned off by the sanctioners. Supporters will point out that sanction regimes generally exclude food and medical supplies. However, international trade requires financing through banks which are subject to penalties in the U.S., for example for trading with Iran, even though the participating bank may be domiciled in a country that has lifted its sanctions on Iran. This practice by the U.S. is called extraterritoriality. Some have likened economic sanctions to acts of war and compared them to sieges of medieval towns in which the besiegers hope to make life so difficult for the besieged that they rise up against their feudal lords and open the gates. The comparison isn't far off since the brunt of sanctions aren't felt so much by the targeted countries' ruling elites but rather their civilian populations. A monstrous example was the decade of UN sanctions against Iraq between the First and Second Gulf Wars. Between 1992 and 2000, 500,000 Iraqi children perished from lack of food and medicines. But Madeleine Albright, former U.S. secretary of state in the Clinton administration, famously quipped that it was "worth it." It was worth it to Albright because sanctions were part of U.S. foreign policy to soften up Iraq in preparation for the Anglo-American invasion and occupation of 2003 which continues today. Notably, coercive economic measures are not levelled against U.S. client states, no matter the enormity of their crimes. Israel, which turned Gaza into the world’s largest open air prison and is annexing the West Bank, and Saudi Arabia, which wages a bloody war on Yemen and murdered journalist Jamal Khashoggi, don't worry about sanctions. Under international law, economic sanctions are acts of war. That's why the UN charter restricts the power to level sanctions exclusively to the UN Security Council. That also explains why Canada's unilateral sanctions against 19 countries are illegal. Only in the case of North Korea are Canada's regime of a full spectrum of coercive measures explicable under international law. While Trudeau tries to play the competent caring leader in his daily COVID-19 press conferences, he cannot ignore the damage he is doing to the efforts to fight the novel coronavirus in 20 of the world's poorest countries, and indeed to the global effort. Ken Stone is a longtime peace, social justice, labour, anti-racist and environmental activist-resident in Hamilton, Ontario. He is treasurer of the Hamilton Coalition To Stop The War and executive member of the Syria Solidarity Movement. Image: CanadianPM/Video Screenshot/Twitter Full Article
economic sanctions BNP Paribas Agrees to Plead Guilty and to Pay $8.9 Billion for Illegally Processing Financial Transactions for Countries Subject to U.S. Economic Sanctions By www.justice.gov Published On :: Fri, 29 Aug 2014 15:22:16 EDT According to court documents submitted today, BNP Paribas S.A. (BNPP), a global financial institution headquartered in Paris, agreed to enter a guilty plea to conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) by processing billions of dollars of transactions through the U.S. financial system on behalf of Sudanese, Iranian, and Cuban entities subject to U.S. economic sanctions Full Article OPA Press Releases
economic sanctions BNP Paribas Pleads Guilty to Conspiring to Violate U.S. Economic Sanctions in Manhattan Federal Court By www.justice.gov Published On :: Fri, 29 Aug 2014 12:01:27 EDT BNP Paribas S.A. (BNPP), a global financial institution headquartered in Paris, pleaded guilty today before U.S. District Judge Lorna G. Schofield in the Southern District of New York to a one-count information charging the bank with conspiring to violate the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA), for its role in processing billions of dollars of U.S. dollar transactions through the U.S. financial system on behalf of Sudanese, Iranian, and Cuban entities subject to U.S. economic sanctions from 2004 through 2012 Full Article OPA Press Releases
economic sanctions Economic sanctions: Assessing their use and implications for U.S. foreign policy By webfeeds.brookings.edu Published On :: Fri, 07 Feb 2020 18:45:07 +0000 On January 27, Foreign Policy at Brookings hosted a panel discussion on economic sanctions and their implications for advancing U.S. foreign policy objectives. Moderated by Robert Bosch Senior Visiting Fellow Jim Goldgeier, the panel included experts with a combined background on the use of sanctions in the Middle East, Latin America, and North Korea: Brookings… Full Article
economic sanctions European Union agrees to impose broad economic sanctions against Russia By blogs.timesofindia.indiatimes.com Published On :: Thu, 31 Jul 2014 00:30:59 IST TIMES VIEW Europe had to react to MH17 downing Chandan Nandy Moscow did not stop after annexing Crimea but continues to foment insurgency in Ukraine. Full Article