Syria, Iran Declare Sanctions On Themselves

Debka headline: Iran and Syria declare massive boycott of multinational companies with Jewish or Israeli stockholders or Zionist links.

That is just about every major company in America and probably most companies in Europe. Debka continues:

Our Iranian sources report that, in a move to counter possible UN sanctions, foreign minister Manoucheir Mottaki presented 7 booklets with two enclosures listing those firms to the Majlis on Oct. 2. He explained: “Article 8 of the law titled Support for the Islamic Revolution of the Palestinian People bans economic relations with any company, institution or firm affiliated with the Zionist regime anywhere in the world.”

Two days earlier, the US Congress passed a bill extending Iran sanctions after the White House watered down an earlier version that would also have punished offshore subsidiaries of US companies that deal with Iran. However, part of the US Secretary of State Condoleezza Rice’s current Middle East mission is to press Arab leaders to instruct banks in the region to cut ties with entities contributing to Iran’s nuclear program, support for terror or pursuit of advanced conventional weapons.

Iran has countered by pushing OPEC to reduce production and raise oil prices.

Which may explain in part Russia's recent move in Lebanon. They are hoping to pick up some of the business with their second rate products. The Russians better insist on cash and carry as countries whose despotic governments have fallen generally repudiate their debts for Russian military hardware. Iraq is a case in point. Which may be why the Russians are being so unhelpful.