Current Edition About Subscribe The Jerusalem Center

Daily Alert Archive

Every Daily Alert Since 2002

Search

Search more than 90,000 news items by topic, author, or source.
Use " " to search for multiple words and phrases.

Trending Topics

November 9, 2007       Share:    

Source: http://www.humanevents.com/article.php?id=23283

Why Europe Won't Sanction Iran

[Human Events] Robert Maginnis - Economic sanctions intended to persuade Iran to stop its radical nuclear and terrorist programs are being marginalized by robust European trade with Tehran. Europe must reverse this policy or a U.S.-led military solution becomes more likely. The EU is Iran's best trading partner, accounting for 28% of its total trade in 2006 and 40% of Iran's imports. In 2006, EU exports to Iran grew 8%, providing 33% of Iran's total imports. Europe is also Iran's primary importer of energy, lapping up 88% of all Iranian energy products. According to the Conflict Securities Advisory Group, a Washington-based consultancy, an estimated 124 publicly-traded European businesses have financial interests in Iran; many of them in Tehran's energy sector. Germany leads the EU in trade with Iran with more than $5.45 billion in goods each year and Germany's central bank holds Iranian assets worth $9.2 billion. The Germans have argued that stopping trade with Tehran would cause thousands of German workers to lose their jobs.

View the full edition of Daily Alert

Back to Archive

Subscribe to Daily Alert: