The US governments uses financial sanctions as a form of “economic warfare” against countries opposed to its hegemony and try to force them into submission, an American writer and political analyst says.
“The US is at war with most of the world,” Daniel Patrick Welch told Press TV on Tuesday. “Sanctions is a form of economic warfare; they’re trying to force, to bully, to coerce other governments and states into toeing the policy lines that they want.”
“It’s used against everyone all the time; they used it against Russia…it’s an old trick of imperialists,” Welch observed.
“If you can’t get what you want, you basically attack the economy and try to starve or threaten the target population into submission,” he noted.
US Secretary of State John Kerry says Iran has so far received only about five percent of its frozen assets since it reached a historic nuclear agreement with the P5+1 group of countries in July.
Iran has reaped just $3 billion out of a total of over $100 billion in previously frozen assets, Kerry said Monday in Washington at a dinner hosted by the left-wing pro-Israel advocacy group J Street.
Kerry said that Iran will get about $55 billion in the long run, under the nuclear deal.
Iranian officials have complained that the US is not fulfilling its part of the nuclear agreement.
Iran has criticized the US for refusing to grant it access to the global financial system. Tehran says such access is one of the goals of the nuclear deal, and has urged Washington to stop preventing non-American banks from dealing with Iran.
Over $100 billion from Iranian oil sales have been piling up in banks in China, India, Japan, South Korea and Turkey over the past few years.
Those countries have been holding the funds in escrow because sanctions imposed by the West in 2012 had prevented the Islamic Republic from repatriating them.