January 16, 2019

USA announces broad new sanctions against Iran

04 November 2018, 05:33 | Austin Hogan

US to Grant Waivers to Some Countries Importing Iran Oil

Donald Trump Goes All ‘Game Of Thrones’ With Iranian Sanctions Reimposition

"However, Iran has continued to support regional armed factions and to develop ballistic missiles despite the United Nations restrictions, and did so even when strict global economic sanctions were in place during 2010-2015", the report said.

The United States says it plans to issue temporary waivers to several countries, allowing them to continue purchasing Iranian oil without being subject to forthcoming US sanctions.

USA officials said Friday that Washington was adding 700 individuals and entities to its Iran blacklist and pressuring the global SWIFT banking network to cut off Tehran when expanded sanctions are put in place next week.

Turkey imports nearly almost half of its oil from neighbouring Iran.

A Chinese official told Reuters that discussions with the USA government were ongoing and that a result was expected over the next couple of days.

The United States will exempt eight nations from USA secondary sanctions on Iran's oil exports, the Donald Trump administration said today.

Japan has been among the nations seeking waivers on the USA -led ban.

The US sanctions on Iran's petroleum sector are scheduled to go into effect Monday.

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"The maximum pressure we have imposed has caused the rial (currency) to drop dramatically, [President Hassan] Rouhani's cabinet is in disarray, and the Iranian people are raising their voice even louder against a corrupt and hypocritical regime", Pompeo said.

The United Arab Emirates' minister of state for foreign affairs, Anwar Gargash, said on Saturday that Iran's "aggressive policies" were "largely responsible" for the reimposition of US sanctions on Tehran. The US cut off diplomatic relations in response to the hostage-taking.

"The last set of sanctions lifted under the bad nuclear deal will come back into force, including powerful sanctions on Iran's energy, shipping, and shipbuilding sectors, and sanctions targeting transactions with the Central Bank of Iran and sanctioned Iranian banks", the President said.

President Trump's decision to pull the United States out of Barack Obama's Joint Comprehensive Plan of Action with Iran, which lifted sanctions and gave the rogue Islamic regime pallets of cash, already is having an impact.

Turkey depends heavily on oil imports and almost nearly half of its oil needs are imported from Iran.

Iran said it was not troubled over the re-imposition of United States sanctions.

Under the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - Tehran agreed to curb its nuclear activities in exchange for the lifting of crippling economic sanctions.

Iran can then use the payment as credit to buy goods from other countries in the European Union through the SPV. "One-hundred percent of the revenue Iran receives from the sale of crude oil will be held in foreign accounts and can be used by Iran only for humanitarian trade or bilateral trade in non-sanctioned goods and services", he said.

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