From the NY Times:
WASHINGTON, Oct. 24 — The Bush administration will announce a long-debated policy of new sanctions against Iran on Thursday, accusing the elite Quds division of the Revolutionary Guard Corps of supporting terrorism, administration officials said Wednesday night.I still think this a good idea executed badly.
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The decision will be announced jointly on Thursday by Secretary of State Condoleezza Rice and Treasury Secretary Henry Paulson, the administration officials said. “This is going to be a broad and wide-ranging effort,” a senior administration official said. “We will be freezing assets, and there will be ripple effects of where we can go from there.”
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The immediate legal consequence of designating the Quds unit as a terrorist organization would be to make it unlawful for anyone subject to United States jurisdiction to knowingly provide material support or resources to it, according to the State Department. Any United States financial institution that becomes aware that it possesses, or has control over, funds of a foreign terrorist organization would have to turn them over to the Treasury Department.
h/t to Memeorandum
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