Obama Seeks to Worsen the Anti-people Effects of Sanctions on Iran

May 21, 2013

After concluding that U.S. sanctions are causing financial panic and a 'rush for gold' in Iran, the Obama administration is preparing to block future gold purchases by Iranians.

Beginning July 1st Washington will impose penalties on anyone who sells gold to Iran, according to testimony given on May 15 before the Senate Foreign Relations Committee. In his testimony Treasury Under Secretary for Terrorism and Financial Intelligence David Cohen emphasized that the penalties target sales to the private sector and "not just the trade to the government."

According to Cohen the move is important at this time because, "There's a tremendous demand for gold among private Iranian citizens, which in some respects is an indication of the success of our sanctions. They are dumping their rials to buy gold as a way to try to preserve their wealth, that is I think an indication that they recognize that the value of their currency is declining."

In other words, U.S. economic sanctions target the people of Iran.

Cohen also testified that the Obama administration is pursuing more "actions that could increase pressure on the value of the rial."

The Obama administration hypocritically tries to criminalize Iran's peaceful pursuit of nuclear energy while the U.S. imposes punitive economic sanctions which openly target millions of "private Iranian citizens" in blatant violation of the Geneva conventions and international law.