U.S. reimposing all Iran sanctions, but China may have oil-trade exemption

04 November, 2018, 20:37 | Author: Donnie King
  • Donald Trump and Iran President Hassan Rouhani. —AFP

Earlier in the day, Bloomberg reported, citing an anonymous senior official from the USA administration, that the United States had agreed to grant eight states, including India, Japan and South Korea, waivers from the upcoming U.S. sanctions targeting Iranian oil sector.

Pompeo said the latest U.S. sanctions are targeted at the regime, not the people of Iran who have suffered grievously under this regime.

U.S. sanctions targeting Iran's oil sales and banking sectors are being restored on Monday as part of a wider effort by Mr Trump to force Tehran to halt its nuclear and ballistic missile programmes outright.

Earlier in the day, U.S. Secretary of State Mike Pompeo said eight countries will be exempted temporarily if they continue importing Iranian oil after the penalties take effect.

Next, he said, "Russia will attempt to leverage the Iranian sanctions by closely aligning itself with OPEC and increasing oil output in order to enable Saudi Arabia to enforce supply quotas".

Mr Pompeo said the sanctions are "aimed at depriving the regime of the revenues it uses to spread death and destruction around the world".

"The reimposition of USA sanctions has begun to harm Iran's economy as major companies exit the Iranian economy rather than risk being penalized by the United States", the report said.

The list of these exemptions would be announced on Monday, Pompeo told reporters during a conference call on Iranian sanctions, with US Treasury Secretary Steven Mnuchin.

"Instead", he said, "they are blowing up an agreement that supports USA interests and the aspirations of the Iranian people while planting the seeds for a disastrous war".

An effigy of the US President Donald Trump, placed on huge prints of a 100 US dollar banknote, was burned outside the former US embassy, while others were seen burning actual dollars.

The condemnation was expressed in a joint statement by EU Foreign Policy Chief Federica Mogherini and Foreign Ministers Jean-Yves Le Drian (France), Heiko Maas (Germany), and Jeremy Hunt (the UK), and Finance Ministers Bruno Le Maire (France), Olaf Scholz (Germany) and Philip Hammond (the UK).

"Our objective is to protect European economic actors involved in legitimate commercial trade with Iran", it added.

"100 percent of the revenue that 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. "The fear they have now is that if Iran walks away from the JCPOA, that greatly increases the prospects of a war".

The US blacklist includes most major Iranian banks.

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

"I think we'll still come to regret this decision, even if the sanctions effort bore more fruit than I and others assessed", Nephew, now with Columbia University, wrote on Twitter.

The people who voted for Trump generally, they didn't like the nuclear agreement, the Republicans opposed the agreement, and the Trump administration is basically playing to its base and the idea is to demonize Iran and then win some votes by saying that they have done what they said they would do.



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