Public Statement from the Peace Economy Project on the Expansion of Sanctions Toward Iran
The Peace Economy Project hereby expresses extreme concern over the recent legislative decision by the U.S. Senate to expand sanctions against Iran, specifically targeting its oil sector. This decision to broaden sanctions to include foreign ports, vessels, and refineries that engage with Iranian crude represents an unnecessary escalation in economic warfare that is likely to exacerbate global tensions and disproportionately impact ordinary Iranian citizens. As it stands, the International Monetary Fund reports that sanctions against Russia contributed to a worldwide economic shock. This can only be exacerbated with sanctions against Iran.
Sanctions, by their nature, tend to inflict suffering on the most vulnerable segments of society. A study from the Center for Economic and Policy Research demonstrated that sanctions have negative effects on outcomes — impeding access to essential goods, healthcare, and eroding the economic stability of entire communities. Sanctions negatively impact mortality and human rights. Historically, sanctions measures have rarely achieved their political objectives, instead fostering animosity, retaliation, and further entrenching conflicts.
We live in a time when global cooperation is vital to our survival, particularly in addressing challenges such as climate change, pandemics, and widespread economic disparity, it is counterproductive to pursue actions that isolate nations and hinder dialogue. The imposition of these new sanctions against Iran is a step backward in the pursuit of global peace and security.
The Peace Economy Project strongly advocates for a reevaluation of this approach, urging U.S. policymakers to consider the far-reaching consequences of sanctions. We call for a renewed focus on diplomacy and negotiation, which are the only proven paths to achieving lasting peace and stability. We stand ready to support efforts that promote understanding and constructive engagement over punitive measures that ultimately serve to divide us.
We invite all those who share our vision of a world where economic and political actions lead to healing rather than harm, to join us in calling for a more thoughtful, compassionate, and inclusive approach to international relations.
For a more peaceful world,
Katerina Canyon
Executive Director, Peace Economy Project
