19 February 2012

Are Sanctions Actually Working in Syria?

According to this report from the BBC News it appears as though the sanctions against Syria are working, and have the bonus effect of screwing w/ Iran, who are trying to prop up their ally.

Speaking to the BBC's Weekend World Today programme, Mr Qudsi said the economy had been crippled by sanctions and that although Iran was sending money, it was not enough.

Mr Qudsi now chairs a London-based investment banking firm and has been heavily involved in private sector investment in Syria.

He said the uprising had destroyed tourism and the sanctions on exports of oil and other products had dramatically reduced the gross domestic product.

"So, effectively the foreign exchange reserves of the central bank have come down from $22bn (£14bn) to about $10bn and it is dwindling very rapidly," Mr Qudsi said.

He said the military phase against protesters could only last another six months "because the army is getting tired and will go nowhere".

"They will have to sit and talk or at least they have to stop killing. And the minute they stop killing, more millions of people will be on the streets. So they are in a Catch 22."

He added: "The apparatus of the government is slowly disintegrating and it's almost non-existent in trouble spots like Homs, Idlib, Deraa. Courts are not there; police are not interested in any sort of crime and it is affecting the government very, very badly."

But Mr Qudsi said Mr Assad would fight to the end because he and his supporters think there is "a universal conspiracy against the government of Syria".

By: Brant

No comments: