Trump’s Great Economic War on Iran has Only Blanks for Ammo

At the outset of the Gym on 5 December 2023, I updated an article I wrote and published at my VK space that urged nations to Just Say No to Illegal Sanctions: “Russia & Iran's Counter Illegal Sanctions Agreement”. That was based on this document published on 12 May 2023: “Declaration of the Russian Federation and the Islamic Republic of Iran Ways and means of counteracting, mitigating and compensating for the negative effects of unilateral coercive measures,” which is translated in full at the initial article. Sixteen main points were made after the preamble of which the initial four are paramount and based on International Law:

The adoption of unilateral coercive measures by any State is illegal, contrary to the Charter of the United Nations and international law, and would entail international responsibility;

Unilateral coercive measures, including those of an extraterritorial nature, carried out by a third State, group or association of States in violation of the Charter of the United Nations and international law should be neither recognized nor adopted;

States are urged to refrain from promulgating, spreading and applying unilateral coercive measures that impede the full achievement of economic and social development objectives, particularly in developing countries;

Any decision of a foreign court arising from the application of national laws, decrees and orders providing for the adoption of unilateral coercive measures against other States should neither be recognized nor enforced by national courts;

Clearly, states are not obliged to obey such illegal decrees and must refrain from abetting their enforcement. At the time the document was drafted and signed, there was finally a way to bypass the West’s primary enforcement mechanism, which is the International financial system reliance on the dollar and Western banking institutions including their messaging systems, SWIFT being the primary institution—CIPS: Cross-Border Interbank Payment System and eMbridge. And traditional currency swaps remain a useful tool. China clearly hasn’t sat on its hands waiting for the SCO or BRICS to provide a solution to the weaponized dollar and illegal sanctions.

To end Outlaw US Empire hegemony, its control over the international financial system must be eliminated by erecting a parallel system that eventually sees replacements for the IMF and World Bank too. Several recent Gym articles address that issue and China’s efforts.

The best current report updating this issue is by Kevin Walmsley of Inside China/Business’ “How China destroyed US sanctions against Iran, Russia, and North Korea” which features a 10-minute podcast along with his printed article I suggest all readers now click to watch. I also highly suggest watching the older video Kevin posted at the end of his article that deals with China’s earlier actions with the dollar and Outlaw banks after Russia’s funds were stolen in 2022. There’s no need for me to remake the wheel when Kevin’s done such an outstanding job. Sanctions are now blanks when aimed at many states with their numbers growing. If monies don’t flow through Western banks, there’s no way to steal them, which is what sanctions amount to—theft—akin to the piracy being practiced at sea. In closing, I also suggest reading this powerful Global Times Editorial, “China will not play along with the US’ ‘reckless games’ on the Iran issue:”

The US war against Iran has now entered its sixth month, with both sides now locked in a stalemate - unable to escalate the conflict further yet unable to reach a negotiated settlement. The so-called "economic D-Day" operation is less a new offensive launched by the US against Iran than it is yet another attempt by Washington to cut its losses as quickly as possible and extricate itself from the quagmire of the Middle East - a move to change tactics and keep gambling after military means have proven ineffective.

Well, Iran can escalate; it’s the Outlaws who are stuck in the muck they created.

*
*
*
Like what you’ve been reading at Karlof1’s Substack? Then please consider subscribing and choosing to make a monthly/yearly pledge to enable my efforts in this challenging realm. Thank You!