January 17, 2019

USA drops the sanctions hammer on Iran ... again

05 November 2018, 04:56 | Austin Hogan

Iran’s Khamenei ‘World Opposes Every Decision Made By Trump’ Getty 4 Nov 2018

Khamenei Trump

The restoration of United States sanctions on Monday targeting Iran's oil sales and banking sectors is part of a wider effort by Trump to force Tehran to halt its nuclear and ballistic missile programmes outright, as well as support for proxy forces in conflicts across the Middle East.

And Washington has now reimposed all the sanctions which were suspended in 2015 - hitting crucial parts of Iran's economy including its lucrative oil industry.

India's oil minister Dharmendra Pradhan confirmed on Saturday that the country, Iran's top oil client after China, had won a waiver from the U.S. sanctions after a "forceful campaign" by prime minister Narendra Modi.

"Even if the United States grants exemptions, Washington will demand that the volume imported from Iran be significantly reduced", said UBS analyst Giovanni Staunovo, who expects prices to rise.

Asked if the U.S. had firm commitments from India and China to stop all oil purchases from Iran within six months, Pompeo replied: "Watch what we do".

South Korea, a USA ally and one of Asia's biggest buyers of Iranian oil, asked Washington for "maximum flexibility" last week, after some of its construction firms cancelled energy-related contracts in the Islamic Republic due to financing difficulties.

Israel has been particularly concerned with Iran's alleged increasing military presence in Syria, with high-level officials alarmed over Tehran's growing influence in the region.

Iran's Asian friends as well as Europeans have expressed their keenness to continue trade with Tehran after the United States reinstated its "toughest sanctions ever" on the Islamic Republic on Monday.

Iranian state television aired footage of defense drills taking place in the country's north through Tuesday as President Hassan Rouhani said the nation faces a "war situation" against a "bullying enemy".

"Switzerland is committed to safeguarding Swiss economic interests and closely follows the development of the situation. We are prepared to resist any pressure", Rouhani said. "Until then, our historic sanctions will remain in full force", he said.

Woman Allegedly Claimed She Choked Out Bouncer Because He Groped Her
He told police he did not react because he thought it was a friend playing a joke on him, the Associated Press reported. The bouncer was much larger than Lagrave, and she had to jump to reach him from behind to place him in a chokehold.

Khashoggi's body dissolved in acid, claims Turkish official
We also know that those individuals came to carry out their orders: "Kill Khashoggi and leave". Saudi Arabia since then announced a full investigation into the killing.

Apple will no longer report how many iPhones, iPads, Macs it sells
The X continues to sell well enough that Apple moved roughly the same number of iPhones and made almost 30 percent more . However, the US-based company is now making it harder for people to figure out the exact number of devices it's selling.

It was in May, that Trump had announced that the U.S. had withdrawn from what he described as "the frightful, one-sided" Iran nuclear deal.

But proponents as well as the other parties to the deal - Britain, China, France, Germany, Russia, and the European Union - have vehemently defended it.

Iran's economy was already suffering from major structural problems - including major banking issues - before Mr Trump walked out of the nuclear deal.

Asked about it on "Fox News Sunday", Pompeo answered, "The Iranian banks that engage in sanctionable behavior will be sanctioned by the Department of Treasury, period, full stop". He qualified that transactions for "humanitarian" purposes would be exempt, as they had been in the past, but cautioned that "banks must be very careful that these are not disguised transactions".

Trump said the deal was weak and favoured Iran.

In an interview with "Fox News Sunday", Pompeo refused to reveal which countries received waivers from US sanctions to continue importing Iranian oil. But Brent crude was steady at $72.83 by 1230 GMT.

According to Jim Ritterbusch, president of Ritterbusch & Associates, trade wars are also playing their part in deflating energies demand: "The magnitude of recent selling is strongly suggesting that global oil demand is weaker than expected as a result of tariff issues, especially between the USA and China".

Rouhani then maintained that the country's exports have increased in the past seven months compared to the same period a year ago, saying the growth occurred despite the US' attempt to hamper Iran's economic activities.

The White House has also announced plans to drive Iranian oil exports down to zero and launch a campaign of "maximum economic and diplomatic pressure" on Iran.

"Iran is a much different country than it was when I took office", said Trump, adding: "They wanted to take over the whole Middle East. Right now they just want to survive", he told a rally in Tennessee, Reuters reported.

Other News

Trending Now

Kim Kardashian & Her Sisters Channel Victoria's Secret Models in Jaw-Dropping Lingerie
After seeing the image, some fans in the comments section mistook the woman for Kim Kardashian . Tekashi 6ix9ine fans are claiming that Kim Kardashian dressed like him for Halloween 2018 .

Magic Johnson "Admonished" Luke Walton After Winless Two-Game Trip
Sources told the Los Angeles Times that Johnson was "angry" at the meeting but Walton's job is not in danger. Lakers star LeBron James , however, doesn't think it's a big deal and says the team isn't focusing on it.

As US sanctions resume, Iran starts annual air defense drill
Rouhani, meanwhile, pledged to government officials in comments aired on state TV that Iran would overcome the sanctions. Embassy in Tehran , Iran on Sunday to mark the 39th anniversary of the seizure of the embassy by militant students.

Leicester players remember late owner at Bangkok temple
'Coming out for the warm-up was tough, the first 10 minutes I couldn't steady myself, I was shaking a little bit'. Puel's team, now 12th in the Premier League , are without a victory in their last three games.

Michael Cohen Donald Trump repeatedly made racist remarks in private
Donald Trump's former attorney is relating shocking racist and disparaging comments he says the president made about black people. Back in August, Cohen pleaded guilty to several charges including campaign finance violations, bank fraud, and tax evasion.

Global Smartphone Shipments Down 6%, Samsung Retains Market Lead 11/02/2018
Xiaomi once again grew its share to a new company high capturing 9.7% of all smartphones shipped worldwide in 3Q18. While Chinese players continued their growth trajectory with strong performances in markets outside China.

Trump speaks by phone with China's Xi on trade
Kudlow also added that Trump "could pull the trigger" on additional tariffs on Chinese imports, depending on how talks go. Bloomberg reported on Friday that Trump wants to reach a trade agreement with China at the G20 meeting.

Arsenal progress under Unai Emery plain to see in draw with Liverpool
He was bold and was rewarded. "I don't think there is any reason to try to do something really big like bring in another striker". Arsenal kept at it and got a point. "The result is a good result for how we did in 90 minutes, when we were losing", he said.

UFC 230: Daniel Cormier challenges Brock Lesnar for UFC and WWE titles
Cormier has said that his next fight would be his retirement fight because he doesn't want to fight after he turns 40 in March. American Cormier controlled the bout from the start, grabbing a takedown after barely a minute in the first round.

Ariana Grande thanks her exes - by name - in new single
Davidson also joked about the break-up during a comedy show with Judd Apatow, saying "Well, as you could tell, I don't want to be here".