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Iran Sanctions Showing Promise

| @abegreenwald 08.06.2008 - 12:06 PM

. . .for EU manufacturers. Here’s Reuters:

European Union exports to Iran are on the rise again after a three-year decline, despite United Nations sanctions over Tehran‘s nuclear program, figures from the EU’s statistics office Eurostat show.

Exports from the 27-nation bloc to the Islamic Republic rose to 4.47 billion euros ($6.93 billion) in the first five months of this year, up 17.8 percent compared with the same period in 2007, even as tension with Iran on the nuclear issue mounted.

The main increases were in exports of vehicles, machinery and other manufactured goods with Germany, Italy and France registering the largest increases. But sales from Britain, Belgium and the Netherlands fell.

Yet it’s the U.S. that has lost “legitimacy” in acting without complete EU cooperation. Maybe this is what Saddam was after in 2002/2003. Exaggerate your nuclear capability, get some “sanctions” going, and watch the European goods roll in.

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