The Aftermath of Iran: Freezing Kuwaiti and Iraqi Assets

Abstract

Since the Iranian assets freeze, US executives have invoked the IEEPA to freeze the assets of Nicaragua, Libya, Panama, Kuwait and Iraq, as well as imposing trade sanctions on these countries. The circumstances in each case have been different. However, in all these instances the objectives have been political and the measures have been taken not to defend US interest in the face of some threat ‘against the economy and security of the United States’, but as offensive measures to achieve foreign policy goals. This chapter will analyse the objectives and implications of these measures.