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August 28, 2013

Reuters: In Syria, try banks before bombs

Op-ed by Sonni Efron. 

As President Barack Obama weighs the U.S. response to chemical weapons attacks against Syrian civilians, one soft power option should still be at top of his to-do list: cutting off access to the U.S. financial system to those doing business with Syria’s Bashar al-Assad.

Russian banks and others are reported to be helping the Assad regime circumvent U.S. and EU sanctions by holding Syrian money while continuing to do business, legally, in the Europe Union and the United States. With a more aggressive and coordinated approach to financial sanctions, Obama could inflict serious capital damage on Assad’s enablers — without collateral damage in the form of slain or injured civilians.

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