Steinitz: Sanctions on Iran are insufficient

October 24, 2012 15:30

Finance Minister Yuval Steinitz said Wednesday that American and European-imposed sanctions against Iran are effective and important, but warned that they alone are not “a big enough stick.”

In an interview with CNBC, Steinitz said that he does not envy the Iranian finance minister, Shamseddin Hosseini, but emphasized that sanctions have not changed Iran’s behavior or dampened its determination to produce nuclear weapons.

“You have to add something, and that something is a very strong and valid military threat or a very clear ultimatum or deadline,” Steinitz said. “You have to choose a big enough stick, and to wave it wildly enough in their face in order not to use it. The sanctions are a big stick, but maybe not big enough yet.”

Steinitz said he was encouraged by US President Barack Obama and Governer Mitt Romney’s statements during Sunday night’s final presidential election debate that they will consider all options in order to prevent Iran’s nuclearization.

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