Editorial: New step in war on terrorism

Tuesday, Sept. 25, 2001 | 9:05 a.m.

It wasn't as dramatic as bombing one of Osama bin Laden's hideouts. Nor was it a troop invasion of Afghanistan, the country harboring the fugitive bin Laden. But President Bush's decision Monday to freeze the assets of 27 organizations and individuals linked to terrorism demonstrates that the president is serious about launching a wide-ranging campaign against terrorism.

Last week in his address to Congress and the nation, President Bush pledged that the war on terrorism would be fought on many fronts, stretching beyond conventional warfare, ranging from covert action to economic sanctions. Freezing assets won't stir patriotism in the same way a victory on the battlefield will, but if the option is used skillfully it can choke off a terrorist's sustenance, which in part can be traced to money. Still, it must be acknowledged that freezing assets doesn't have a perfect record. For instance, prior attempts to block such funding to bin Laden haven't worked, including efforts in 1998 by the United States and the United Nations to freeze his assets following the bombing of the U.S. embassies in Africa.

The campaign against terrorism's financing also isn't a situation where the United States can go it alone -- terrorists will simply funnel their money through other nations' banks if only the United States freezes their assets. So Bush is asking foreign governments to freeze or block terrorists' funds overseas. It will not be easy to accomplish this task. Even those nations willing to cooperate may have a tough time immediately complying with Bush's request since they may have to change their laws to enable them to do so. Other nations may have the means to freeze assets but may just go through the motions, feigning compliance, because they sympathize with bin Laden. Bush is making this a "request" for now, but the president did add that foreign banks that don't cooperate would have their own assets and transactions frozen in the United States.

While freezing the assets of terrorists isn't a sure thing, the president is wise to use this economic sanction as a first step. Fighting global terrorism is going to be a long, complex struggle, which will include an attack on its financial roots. Victory on the battlefield is essential, but snuffing out the money that sustains terrorism is a key part of the campaign as well.