One would think that economic problems from simple minded austerity policies within Europe would at least lead to policies that increase exports to solvent customers. But no. The European Union, under pressure from the U.S. and Israel, just increased the sanctions on Iran thereby cutting off all exports to a good customer:
The Council prohibited all transactions between European and Iranian banks, unless they are explicitly authorised by national authorities under strict conditions.
There will be a ban on short-term export credits, guarantees and insurance. Medium- and long-term commitments are already banned.
Others are benefiting from this policy:
U.S. exports to Iran rose by nearly a third this year, chiefly because of grain sales, according to U.S. data released last week, despite the tightening of U.S. financial sanctions.
The jump to $199.5 million in the first eight months of 2012 from $150.8 million a year earlier, according to Census Bureau data, …
The U.S. wants to achieve regime change in Iran. It presses for Europe to adopt more sanctions and to cease all trade with Iran. At the same time it is using the loopholes in its own sanction regime to increasing its trade with Iran.
It is beyond my how and why those European politicians can fall for this scheme. Any ideas?