GAO Report Challenges Effect of Longtime U.S. Sanctions on Iran

[Washington Post] Robin Wright - In a report released Wednesday, the U.S. Government Accountability Office, an investigative arm of Congress, challenged the impact of U.S. sanctions against Iran dating to 1987. Tehran has circumvented many economic sanctions, and "Iran's overall trade with the world has grown since the U.S. imposed sanctions," it concluded. The Treasury Department countered that Iran faces "increased economic, financial and political isolation" because of U.S. and UN sanctions, with about 25,000 transactions worth more than $5 billion rejected since 1997, said Stuart A. Levey, undersecretary for terrorism and financial intelligence.

2008-01-17 01:00:00

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