Friday, October 26, 2007

U.S. Imposes Broad Sanctions on Iran's Revolutionary Guard Corps

The Bush administration on Thursday (Oct. 25) imposed sweeping new sanctions against Iran's Revolutionary Guards Corps (IRGC), which the U.S. accuses of supporting terrorism, developing Iran's nuclear program and exporting missiles. At a State Department news conference Thursday, Secretary of State Condoleezza Rice and Treasury Secretary Henry Paulson announced sanctions that will cut off more that 20 Iranian entities controlled by the IRGC from the American financial system. That means companies outside the U.S. engaged in business dealings with these entities risk financial penalty. [1]

The announcement represents the first time that the U.S. has imposed sanctions against the armed forces of a sovereign government. [2] Please click here for background information on the IRGC, including information about its economic and political influence, the threat it poses to the region and the world as well as an historical overview.

As tensions between Iran and the U.S. and Europe intensify, The Israel Project Founder and President Jennifer Laszlo Mizrahi underscored the need to seek a peaceful resolution. "It is extremely important to use the power of the purse for peace and use a war of wallets to try to avoid a war of weapons," Mizrahi said. "These critical efforts at the federal level to stop the threat posed by Iran from impacting security around the world are vital at this time. More, however, must be done at the state level as well. Already, critical legislation has been passed in several states, including California, Florida and Louisiana, to divest state pension funds from helping Iran. Many other states, including Pennsylvania, New York and Massachusetts, are working on similar legislation and this movement needs to spread nationwide as quickly as possible in order to help prevent a war."
For more information about divestment legislation and efforts to keep U.S. investments out of Iran, please see Terror-free investing resources as well as a state-by-state update of Iran divestment legislation.


[1] Lee, Matthew, "New Sanctions levied against Iran, " Associated Press via Yahoo!news, Oct. 25, 2007,;_ylt=Ankk3YwHdPcRV8ELvcZk8e.s0NUE
[2] Cooper, Helene, "New Steps by U.S. Against Iranians," The New York Times, Oct. 25, 2007,

The Israel Project is an international non-profit organization devoted to educating the press and the public about Israel while promoting security, freedom and peace. The Israel Project provides journalists, leaders and opinion-makers accurate information about Israel. The Israel Project is not related to any government or government agency.
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