Israel, US to establish joint forum to monitor Iran economy
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Israel, US to establish joint forum to monitor Iran economy

Finance Minister Steinitz calls for more sanctions to curb Tehran's alleged nuclear weapons program

Minister for Intelligence and Strategic Affairs Yuval Steinitz (photo credit: Miriam Alster/Flash90)
Minister for Intelligence and Strategic Affairs Yuval Steinitz (photo credit: Miriam Alster/Flash90)

JTA — Finance Minister Yuval Steinitz met with US Treasury Secretary Timothy Geithner and agreed to establish a bilateral forum that would periodically assess the effects of sanctions on Iran.

Steinitz in his meeting Monday with Geithner said Israel believed further sanctions, as well as a credible military threat, were necessary in order to persuade Iran to shut down its suspected nuclear weapons program.

“It was agreed at the meeting that a permanent American-Israel forum would be established which will periodically assess the effect of sanctions on the Iranian economy and would review ways to increase the economic pressure,” a statement from Steinitz’s office said.

Steinitz also outlined at the meeting Israel’s policies on transferring funds to the Palestinians.

Before the Palestinians enhanced their United Nations status to non-member state, Steinitz had threatened that Israel would halt funding to the PA should they do so. Subsequent to the UN General Assembly vote, however, he withheld only $180 million to cover Palestinian debts to Israel’s electricity provider, and continued other payments.

At the meeting, Steinitz also thanked Geithner for extending $4 billion in US loan guarantees.

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