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Good(ish) News from Iran

Gianfranco Fini, the leader of the Italian conservative party Alleanza Nazionale and an ally of Silvio Berlusconi in the upcoming April 13 Italian national elections, has offered a glimpse into Italy’s foreign policy if he and Mr Berlusconi win a majority.

According to a recent report in the Financial Times, Fini called Iran the “danger of today,” and said that

the EU should take a “very tough” stand and that Italy’s position as an important European trade partner gave it extra leverage in imposing sanctions against Tehran’s nuclear programme.

This is very good news, given that Italy is Iran’s second-largest commercial partner in Europe and that its business interests mainly contribute to strategic sectors of Iran’s economy–steel, energy, and civil engineering. But Fini’s welcome remarks should come with a caveat: turning these good intentions into good practice is a different story, even if Fini and his political allies win next week. Italy is currently the principal obstacle in efforts to expand EU sanctions to target Iran’s Bank Melli, its principal commercial bank

Melli is the main conduit for financial transactions for Italian companies operating in Iran. But it’s is also the main conduit of financing for Hezbollah in Lebanon and was instrumental in funding the terror attack against the AMIA Jewish center in Argentina in 1994. Italy’s current position is that Bank Melli–evidence of misdeeds notwithstanding–cannot be touched: too many commercial interests are at stake. Will Fini and his putative prime minister Berlusconi change course?


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