US sanctions on Iran ineffective, says Israeli intel chief

Monday, November 12, 2007 |  by Staff Writer

The head of Israel's Military Intelligence told the weekly cabinet meeting on Sunday that limited US economic sanctions against Iran are having little to no effect, and are certainly not convincing the Islamic Republic to give up its suspected nuclear weapons program.

For instance, Washington has placed three prominent Iranian banks on its terror watch list. But, noted Maj.-Gen. Amos Yadlin, those banks do not have substantial overseas holdings, and are able to easily bypass the current US sanctions by using currencies other than the US dollar.

Without the entire international community, including private businesses, getting on board, economic sanctions against Iran are going to continue to be little more than a minor annoyance to Tehran.

Israeli experts have been warning for two years that the only way Iran is going to be prevented from obtaining nuclear weapons is through military intervention. Earlier this month, leading US officials said they believe Israel may soon strike Iran as the latter inches closer to the so-called "point of no return" in its uranium enrichment efforts. Israeli officials believe they would have the support of the Bush Administration for such a strike.

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