USA reimposes tough, unilateral sanctions against Iran
USA reimposes tough, unilateral sanctions against Iran
Iran FM says Trump, Mohammed Bin Salman, Netanyahu are ‘isolated’
07 August, 2018, 15:33
It comes three months after President Trump pulled the USA out of the worldwide accord limiting Iran's nuclear activities.
The snapback sanctions are meant to target Iran's purchases of USA dollars, metals trading and other dealings, coal, industrial-related software and its auto sector.
U.S sanctions targeting Iran's oil sector and Central Bank are to be re-imposed in early November.
The stiff economic sanctions ratchet up pressure on the Islamic Republic despite statements of deep dismay from European allies.
US National Security Adviser John Bolton said Iran "could take up the president's offer to negotiate with them, to give up their ballistic missile and nuclear weapons programmes fully and really verifiably - not under the onerous terms of the Iran nuclear deal, which really are not satisfactory".
Iran accused the USA of reneging on the nuclear agreement, signed by Barack Obama's administration, and of causing recent Iranian economic unrest.
"Most of the companies have already made up their mind, whether it's the German Siemens, the French carmaker PSA, the Danish Maersk - all these companies that have said they don't want to risk losing access to the United States market, they don't want to risk losing access to the financing in dollars by U.S. banks, and also they don't want to lose their USA shareholders".
Months of uncertainty surrounding the sanctions have already further hurt Iran's economy.
British Minister of State for the Middle East Alistair Burt said Europe can protect its companies from new USA sanctions which were reinstated on Tuesday, as the European Union activated a blocking statute to insulate firms against any fallout.
"If the ayatollahs want to get out from under the squeeze, they should come and sit down".
Iranian President Hassan Rouhani says he's willing to talk to the U.S.
As of midnight, harsh sanctions on Iran have kicked in as part of the administration's strategy to keep Tehran from achieving its goal of building a nuclear bomb.
The nuclear deal is closely associated in Iran with Rouhani, a relative moderate who won two landslide elections on promises to open up its economy to the outside world.
Iran's rial currency has lost half its value since April under the threat of revived USA sanctions. "Of course, American bullying and political pressures may cause some disruption, but the fact is that in the current world, America is isolated", Mr. Zarif told reporters, according to the semi-official ISNA agency.
Iran´s Foreign Minister Mohammad Javad Zarif told reporters the global reaction to Trump´s move showed that the U.S. was diplomatically "isolated", but acknowledged the sanctions "may cause some disruption".
The ministers said the Iran deal is "crucial for the security of Europe, the region and the entire world", and the European Union issued a "blocking statute" on Monday to protect European businesses from the impact of the sanctions. "That's the ask", said Pompeo on Sunday ahead of the re-imposition.
He called on the countries of Europe to join the U.S., saying, "The time has come to stop talking; the time has come to do". Israeli Prime Minister Benjamin Netanyahu hailed the renewed sanctions as "an important moment for Israel, for the United States, for the region, for the whole world".
He added, "To this day, Iran threatens the United States and our allies, undermines the global financial system, and supports terrorism and militant proxies around the world".
During the same period, inflation as measured by the Consumer Price Index rose slightly more - 2.8 percent. It is not a solicitation to make any exchange in commodities, securities or other financial instruments.
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