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The war won’t end Iran’s nuclear program but it will drive it underground

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The United States’ and Israel’s strikes on Iran are concerning, and not just for the questionable legal justifications provided by both governments.

Even if their attacks cause severe damage to Iran’s nuclear facilities, this will only harden Iran’s resolve to acquire a bomb.

And if Iran follows through on its threat to pull out of the Treaty on the Nonproliferation of Nuclear Weapons (NPT), this will gravely damage the global nuclear nonproliferation regime.

In a decade of international security crises, this could be the most serious. Is there still time to prevent this from happening?

A successful but vulnerable treaty

In May 2015, I attended the five-yearly review conference of the NPT. Delegates debated a draft outcome for weeks, and then, not for the first time, went home with nothing. Delegates from the US, United Kingdom and Canada blocked the final outcome to prevent words being added that would call for Israel to attend a disarmament conference.

Russia did the same in 2022 in protest at language on its illegal occupation of the Zaporizhzhia nuclear power station in Ukraine.

Now, in the latest challenge to the NPT, Israel and the US have bombed Iran’s nuclear complexes to ostensibly enforce a treaty neither one respects.

When the treaty was adopted in 1968, it allowed the five nuclear-armed states at the time – the US, Soviet Union, France, UK and China – to join if they committed not to pass weapons or material to other states, and to disarm themselves.

All other members had to pledge never to acquire nuclear weapons. Newer nuclear powers were not permitted to join unless they gave up their weapons.

Israel declined to join, as it had developed its own undeclared nuclear arsenal by the late 1960s. India, Pakistan and South Sudan have also never signed; North Korea was a member but withdrew in 2003. Only South Sudan does not have nuclear weapons today.

To make the obligations enforceable and strengthen safeguards against the diversion of nuclear material to non-nuclear weapons states, members were later required to sign the IAEA Additional Protocol. This gave the International Atomic Energy Agency (IAEA) wide powers to inspect a state’s nuclear facilities and detect violations.

It was the IAEA that first blew the whistle on Iran’s concerning uranium enrichment activity in 2003. Just before Israel’s attacks this month, the organisation also reported Iran was in breach of its obligations under the NPT for the first time in two decades.

The NPT is arguably the world’s most universal, important and successful security treaty, but it is also paradoxically vulnerable.

The treaty’s underlying consensus has been damaged by the failure of the five nuclear-weapon states to disarm as required, and by the failure to prevent North Korea from developing a now formidable nuclear arsenal.

North Korea withdrew from the treaty in 2003, tested a weapon in 2006, and now may have up to 50 warheads.

Iran could be next.

How things can deteriorate from here

Iran argues Israel’s attacks have undermined the credibility of the IAEA, given Israel used the IAEA’s new report on Iran as a pretext for its strikes, taking the matter out of the hands of the UN Security Council.

For its part, the IAEA has maintained a principled position and criticised both the US and Israeli strikes.

Iran has retaliated with its own missile strikes against both Israel and a US base in Qatar. In addition, it wasted no time announcing it would withdraw from the NPT.

On June 23, an Iranian parliament committee also approved a bill that would fully suspend Iran’s cooperation with the IAEA, including allowing inspections and submitting reports to the organisation.

Iran’s envoy to the IAEA, Reza Najafi, said the US strikes:

[…] delivered a fundamental and irreparable blow to the international non-proliferation regime conclusively demonstrating that the existing NPT framework has been rendered ineffective.

Even if Israel and the US consider their bombing campaign successful, it has almost certainly renewed the Iranians’ resolve to build a weapon. The strikes may only delay an Iranian bomb by a few years.

Iran will have two paths to do so. The slower path would be to reconstitute its enrichment activity and obtain nuclear implosion designs, which create extremely devastating weapons, from Russia or North Korea.

Alternatively, Russia could send Iran some of its weapons. This should be a real concern given Moscow’s cascade of withdrawals from critical arms control agreements over the last decade.

An Iranian bomb could then trigger NPT withdrawals by other regional states, especially Saudi Arabia, who suddenly face a new threat to their security.

Why Iran might now pursue a bomb

Iran’s support for Hamas, Hezbollah and Syria’s Assad regime certainly shows it is a dangerous international actor. Iranian leaders have also long used alarming rhetoric about Israel’s destruction.

However repugnant the words, Israeli and US conservatives have misjudged Iran’s motives in seeking nuclear weapons.

Israel fears an Iranian bomb would be an existential threat to its survival, given Iran’s promises to destroy it. But this neglects the fact that Israel already possesses a potent (if undeclared) nuclear deterrent capability.

Israeli anxieties about an Iranian bomb should not be dismissed. But other analysts (myself included) see Iran’s desire for nuclear weapons capability more as a way to establish deterrence to prevent future military attacks from Israel and the US to protect their regime.

Iranians were shaken by Iraq’s invasion in 1980 and then again by the US-led removal of Iraqi dictator Saddam Hussein in 2003. This war with Israel and the US will shake them even more.

Last week, I felt that if the Israeli bombing ceased, a new diplomatic effort to bring Iran into compliance with the IAEA and persuade it to abandon its program might have a chance.

However, the US strikes may have buried that possibility for decades. And by then, the damage to the nonproliferation regime could be irreversible.

Anthony Burke, Professor of Environmental Politics & International Relations, UNSW Sydney

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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Trump cuts India tariffs after Modi agrees to end Russian oil imports

Trump announces new trade deal with India, reducing tariffs to 18% in a major shift in U.S.-India relations.

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Trump announces new trade deal with India, reducing tariffs to 18% in a major shift in U.S.-India relations.


In a major geopolitical shift, U.S. President Donald Trump announced a new trade deal with India that slashes tariffs on Indian goods to 18%, reversing punitive levies previously as high as 50%.

The deal came following a phone call with Indian Prime Minister Narendra Modi and marks a significant pivot in U.S.–India economic relations after months of tension. Oz Sultan from Sultan Interactive Group joins us to break down what this means for exporters and global markets.

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UK Prime Minister visits Beijing after eight years to boost trade and security

UK PM visits Beijing to strengthen trade and tackle security issues; insights from Professor Tim Harcourt on Brexit’s impact.

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UK PM visits Beijing to strengthen trade and tackle security issues; insights from Professor Tim Harcourt on Brexit’s impact.


The British Prime Minister has made the first visit to Beijing in eight years, aiming to strengthen trade links and address growing security concerns with China.

Joining us to unpack the visit is Professor Tim Harcourt, Chief Economist at UTS, who discusses how Brexit has reshaped Britain’s approach and the delicate balance between economic opportunities and security commitments to the USA and NATO.

We also explore how China’s alliances with countries like Myanmar and Russia, along with Canada’s differing approach, influence trade relations, and what this visit means for Australia’s relationship with China.

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3 things to know about Kevin Warsh, Trump’s nod for Fed chair

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3 things to know about Kevin Warsh, Trump’s nod for Fed chair

Kevin Warsh has been tapped by Donald Trump to lead the Federal Reserve.
AP Photo/Alastair Grant

D. Brian Blank, Mississippi State University and Brandy Hadley, Appalachian State University

After months of speculation, President Donald Trump nominated Kevin Warsh on Jan. 30, 2026, to be the next chair of the Federal Reserve.

If confirmed by Congress, Warsh will inherit leadership of the U.S. central bank at a delicate time. For months, current Fed Chair Jerome Powell has come under attack from the Trump administration for failing to heed the president’s call for lower interest rates. The fight has put into question the central bank’s independence and its role in stewarding the economy.

Powell’s term as chair will end in mid-May, leaving his successor to navigate an economy that has improved on some fronts but remains uneven and uncertain.

But what should America expect from the next Fed chair? Here are three things to note about Trump’s nominee.

1. He is a familiar face …

Warsh brings deep experience with monetary policymaking to the role.

A graduate of Stanford University and Harvard Law School, he served as special assistant to the president for economic policy and executive secretary of the White House National Economic Council under President George W. Bush before becoming one of the youngest members of the Federal Reserve Board of Governors.

Warsh is no newcomer to discussions about Federal Reserve leadership. He was a finalist for the job in 2017, when Trump instead appointed Powell. Trump has since stated that he made a mistake by not selecting Warsh then – though clashes between Trump and Powell may have influenced that view.

Two men in suits walk outside.
Fed Chair Jerome Powell increasingly found himself out of step with Donald Trump’s wishes.
AP Photo/Pablo Martinez Monsivais

Warsh’s credentials are unquestionable. As a governor of the Federal Reserve Board from 2006 to 2011, he worked closely with other policymakers and with Wall Street during the global financial crisis of 2008. Since departing the Fed, he has returned to Stanford as a visiting fellow at the Hoover Institution and a lecturer at the Graduate School of Business, as well as a member of the Panel of Economic Advisers of the Congressional Budget Office.

He also has ties to the finance industry. He began his career in mergers and acquisitions at Morgan Stanley and, since leaving the Fed, has worked as a partner at Duquesne Family Office, an investment firm that manages the personal wealth of hedge fund manager Stanley Druckenmiller and other investors.

In 2016, Trump included Warsh in an economic advisory group assembled during his transition. Critics of Warsh’s nomination point toward his father-in-law, Ronald Lauder, a college friend and donor of the president, as evidence of politicization.

2. … with evolving monetary views

The big question people have is what a Warsh Fed would mean for monetary policy – that is, is it likely to play tight or loose with rates.

When the economy is growing quickly, like in 2021, the Federal Reserve tightens policy by raising interest rates to avoid the kind of economic growth that may not be sustainable long term and can lead to bubbles. However, during downturns, like in 2008 or 2020, the economic policy that can provide a backstop for the economy is looser. The Fed tends to lower rates in these situations, which supports growth.

Warsh’s views on monetary policy have long been considered hawkish, meaning he is inclined toward tighter policy and generally higher interest rates to keep inflation in check, even at the expense of slower economic growth. During his previous tenure at the Fed, he signaled concern about expansive monetary tools such as quantitative easing, in which the central bank buys Treasurys and other securities to stimulate the economy. This resulted in what Warsh called a “bloated” Fed balance sheet that held almost US$9 trillion of debt at its peak in 2022.

In recent public remarks leading up to his nomination, however, he has increasingly aligned in part with Trump’s push for lower interest rates and discussed establishing a new Treasury-Fed Accord, like in 1951, when Fed independence from fiscal authorities such as the Treasury Department was established.

3. His nod highlights fight over Fed independence

A central question surrounding this nomination is whether it promotes the politicization of the Federal Reserve.

The Fed’s independence from day-to-day political pressure has long been viewed as a cornerstone of U.S. economic policymaking. Decisions about interest rates, inflation control and financial stability are insulated from electoral politics for that reason. A truly independent Fed can resist making decisions that provide a short-term economic bump – something incumbent governments tend to like – but may lead to longer-term economic pain down the road.

The Fed tends to use its monetary policy tools carefully. Yet politicians tend to want looser monetary policy so the economy grows fast and they get credit for it.

And Warsh’s nomination can be seen in the context of a broader push from the executive branch to exert greater influence over monetary policy. Given Trump’s public criticism of Powell and vocal calls for his early departure, the president almost certainly intended to nominate someone who would lower interest rates according to preferences stated by the administration.

Critics of the nomination have argued that Warsh has a tendency to be more opportunistic with his policy views than Powell and other economists, who try to ignore political preferences.

As such, Warsh’s nomination encapsulates more than just a leadership transition. It highlights the ongoing tensions between political priorities and the traditional economic playbook, between short-term growth pressures and long-term stability, and between institutional independence and democratic accountability.

Time will tell whether he turns out to be hawkish or politically motivated as chair, if he is confirmed.The Conversation

D. Brian Blank, Associate Professor of Finance, Mississippi State University and Brandy Hadley, Associate Professor of Finance and Distinguished Scholar of Applied Investments, Appalachian State University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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