Freezing US assets tied to Iran

Ashley Milne-Tyte Jun 14, 2006

TEXT OF STORY

SCOTT JAGOW: The Treasury Department has frozen the American assets of four Chinese companies and one US firm. They’re accused of selling missile parts to Iran. The government also barred other companies from doing business with them. Ashley Milne-Tyte explains the strategy.


ASHLEY MILNE-TYTE: Clamping down on companies it does business with is a non-controversial way to hit Iran.

Consensus for military action is low, and William Overholt of the Rand Corporation says, although broad economic sanctions are under discussion . . .

WILLIAM OVERHOLT: Countries like India and Russia and China still don’t think they’re appropriate, so the administration is doing things that are directly targeted at the weapons problem.

He says it’s hard to say how effective this move will be. The targeted companies may be able to take some of their business elsewhere. Still, he says, the US is sending a signal that it’s serious about curbing Iran’s military capabilities, and that further action may be on the way.

I’m Ashley Milne-Tyte for Marketplace.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.