Ron Paul Interview: CNBC & Iran Sanctions

Ron Paul was interviewed this afternoon by Maria on CNBC’s Closing Bell regarding recent decisions by Ben Bernanke. Congressman Paul also made impassioned statements in opposition to a new bill, likely to pass, promoting more sanctions on Iran. See below.

 Congressman Paul speaking on the House floor:

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Fox is reporting that “the proposed (bill) expands on existing penalties and would impose sanctions on anyone who mines uranium with Iran; sells, leases or provides oil tankers to Tehran; or provides insurance to the National Iranian Tanker Co. It would also penalize anyone who works in Iran’s petroleum, petrochemical or natural gas sector, or helps Tehran’s oil and gas industry by providing goods, services, technology or infrastructure.”

Ron Paul has a history of being very wary of–what he calls–the “inevitable consequences” of sanctions against nations. As far back as 1998, Congressman Paul opposed president Clinton’s Iraq Liberation Act (calling for sanctions on Iraq) predicting that it would lead to war.

I see this piece of legislation as essentially being a declaration of virtual war. It is giving the President tremendous powers to pursue war efforts against a sovereign Nation. It should not be done casually. I think it is another example of a flawed foreign policy that we have followed for a good many decades. For instance, at the beginning of this legislation it is cited as one of the reasons why we must do something. It says on September 22, 1980, Iraq invaded Iran starting an 8-year war in which Iraq employed chemical weapons against Iranian troops, very serious problems. We should condemn that. But the whole problem is we were Iraq’s ally at that time, giving him military assistance, giving him funds, and giving him technology for chemical weapons.

In addition, according to Paul’s theory, sanctions have the unintended consequence of uniting the population of unfriendly nations in support of their leaders.

(Sanctions are) going to hurt the people who are trying to overthrow [President Mahmoud] Ahmadinejad. People, when they’re attacked from the outside and made to hurt, become more nationalistic.