Iran Withdraws Money From European Banks

Iran has withdrawn around $75 billion of its foreign assets from European banks. This withdrawal was ordered by Iranian President Mahmoud Ahmadinejad in order to protect those assets from European threats to impose new sanctions over Tehran’s controversial nuclear ambitions.

According to Mohsen Talaie, Iran’s deputy foreign minister in charge of economic affairs, part of Iran’s assets in European banks has been converted into gold and another part has been transferred to banks in Asia.

During his recent trip to Europe, United States President George W. Bush won support for proposed new sanctions against Iran from leaders on the Continent. Yet the Iranian regime is showing no signs of slowing down its uranium enrichment process. Ahmadinejad has responded to these threatened sanctions in a televised speech where he called Bush a lame-duck president who has failed at every attempt to hurt Iran and said that the Western world cannot do anything to stop the Iranian nuclear program.

Governments across Europe, by repeatedly threatening to sanction Iran and then only halfheartedly carrying out those threats, are not deterring Iran’s nuclear ambitions; they are only giving the Iranians time to move their economic assets elsewhere. It may take the detonation of an Iranian nuclear device in a major Western city to wake the world up, but eventually someone is going to have to deal decisively with Iran.

That somebody is going to be Europe. To find out why, read The King of the South by Trumpet editor in chief Gerald Flurry.