Mon, Nov 05, 2007 - Page 6 News List

ANALYSIS: Bank sanctions nibbling away at Iran's resolve


Foreign currency oil revenues are expected to reach US$70 billion this year.

"The aim of the Americans is to cut financial links between Iran and the rest of the world," said a banking expert, who asked not to be named.

"The great lesson of North Korea that the Americans understood was that they do not necessarily need to resort to the [UN] Security Council," he said, referring to US pressure on Pyong-yang's nuclear program.

"They can exercise the maximum pressure just by imposing sanctions through their own financial system," he said.

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