Thursday, 25 April, 2019


US Again Places Full Restrictions on Iran for Its Nuclear Program

Iranians shop in Tehran US Again Places Full Restrictions on Iran for Its Nuclear Program
Bennie Garza | 07 November, 2018, 04:17

After pulling the United States out of a nuclear deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the Trump administration began reimposing sanctions on Iran in August. Pompeo said more than 20 countries have already cut oil imports from Iran, reducing purchases by more than 1 million barrels per day.

Besides China, Greece, India, Italy, Turkey, South Korea, Taiwan and Japan get US sanctions waivers for Iran oil imports.

Washington D. C., Nov 05: United States Secretary of State Mike Pompeo on Monday stated that the sanctions against Iran were an unprecedented campaign of economic pressure with the objective to starve the Iranian regime of revenue it uses to fund violent actions throughout the Middle-East and around the world.

Eight governments have received temporary permission to continue to import Iranian oil. The US has granted exceptions to eight countries including big consumers like India and China, which means Iranian oil will keep flowing.

Many of these companies initially were targeted by sanctions under President Barack Obama, but the restrictions were subsequently lifted when the US struck a deal with Iran in 2015 over its nuclear ambitions. Those governments make up a majority or Iran's oil exports.

Israeli Prime Minister Benjamin Netanyahu has praised US President Donald Trump's decision to re-impose "most severe" sanctions on Iran.

"Our ultimate goal is to convince the regime to abandon its current revolutionary course", Pompeo said announcing the sanctions on Monday. "We have the knowledge and the capability to manage the country's economic affairs", Foreign Ministry spokesperson Bahram Qasemi told state TV on Friday. The price pressure on oil has scared off financial traders.

In May, President Donald Trump announced that the U.S. would withdraw from the agreement.

Front-month Brent crude futures were at $72.47 per barrel early on November 5, down 36 cents, or 0.5 percent from their last close. "This is not about hurting the people of Iran, but we will not let money be diverted to humanitarian purposes and then put for terrorist activities".

Rohani also vowed that Iran will "proudly bypass" USA sanctions to sell oil.

Senior Iranian officials have dismissed concerns about the impact to its economy.

Iran on Monday (Nov 5) urged the United Nations to hold the United States accountable for re-imposing sanctions on Tehran, branding the measures illegal and in violation of a Security Council resolution.

"We're going to have sanctions that even go beyond this".

On Monday, the Trump administration reimposed sanctions on Iran, targeting the country's energy, shipping and financial sectors.

After pulling the U.S. out of the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the administration began reimposing sanctions on the Islamic Republic in August.

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