November 28th, 2013
After decades of sanctions and years of negotiations, the permanent members of the UN Security Council (and Germany) have reached a temporary deal on Iran’s nuclear program. Under the agreement, for the next six months, Iran will halt activities that would enable it to make a nuclear weapon and allow international inspectors to dramatically increase their oversight of the program. In exchange, the United Nations and the United States will ease international economic and financial sanctions (including by unfreezing billions in Iranian assets abroad).
Not everyone is happy with the deal. Israeli Prime Minister Benjamin Netanyahu called it an “historic...
February 20th, 2013
This week North Korea released an inflammatory new propaganda video showing President Obama and United States troops in flames. The video then credits America’s “gangster-like policy of hostility” for the country’s decision to become a “strong military power” and conduct its latest nuclear test. Like many other North Korean propaganda videos, this one also blames the nation's overwhelming poverty—including chronic food shortages—to the imperialist bullying of America.
Although the video and its sentiment is far from new—North Korea has been releasing such propaganda for years—the implications of this one are a little more pressing this time around. That’s because North...
January 3rd, 2013
HSBC Bank USA N.A. and HSBC Bank Holdings plc, its parent company, agreed to forfeiture and penalties of a little more than $1.9 billion dollars for systemic and willful violations of U.S. anti-money laundering and foreign sanctions laws. $1.9 billion may sounds like a lot, but does the penalty fit the crime?
October 9th, 2012
Following Several, Recent, High-Profile Cases Against International Banks for Violating U.S. Sanctions Against Iran, the Iranian Rial Lost 60% of its Value against the U.S. Dollar Last Week. Could There Be A Connection?