*** ----> Close to collapse? | THE DAILY TRIBUNE | KINGDOM OF BAHRAIN

Close to collapse?

The US is to continue its economic pressure on Iran and its Lebanese proxy Hizbollah, the Assistant Secretary for Terrorist Financing Marshall Billingslea said yesterday. Speaking at the Atlantic Council, Billingslea added that the drug trade in South America was financing the terrorist organisation, and that other sources of funding included money laundering. He also said that South America was starting to turn against Hizbollah, which is backed by Iran.

Billingslea said that the US Treasury will continue to exert economic pressure on Iran and Hizbollah, and that it considers the buying of Iranian oil as funding terrorism. Due to Iraq’s proximity to Iran, the Iraqi people “ are victims,” Billingslea said. However, any Iraqi party that colludes with Iran’s Revolutionary Guards will have sanctions imposed on it. He continued by saying that NATO countries supported the US and consider Iran a terrorist state.

The US Treasury has had no difficulty in convincing Europe that the regime in Iran is corrupt and that corruption is widespread, the Assistant Secretary for Terrorist Financing said. He added that the US has informed European countries that dealing with Iran will harm their trade with the country. Shipping companies must know who they are dealing with, otherwise they will be sanctioned, Billingslea said.

US sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80 per cent. Meanwhile, the US State Department said Iran has been breaking “promises” after the Iranian tanker Adrian Darya 1 allegedly delivered oil to Syria despite assurances to the contrary. Previously named Grace 1, the vessel was held for six months by the British overseas territory of Gibraltar until authorities received written assurances from Iran that it wouldn’t sail to Syria in breach of European Union sanctions.

“This fits into the web of lies perpetrated by the Iranian regime for 40 years,” State Department spokeswoman Morgan Ortagus told reporters in Washington. “Their deception and broken promises are not just aimed at the international community, but the Iranian people too. Despite the revolutionary promises of a better society, the thugs in Tehran have consistently repressed women, minorities, and human rights advocates.”