Friday, 16 November, 2018

Iran launches military drill in response to return of U.S. sanctions

Open to new deal with Iran: Trump Iranian marchers chant ‘Death to America’ on eve of US oil sanctions
Cristina Norman | 05 November, 2018, 23:31

On Friday, the Trump administration announced the restoration of sanctions on Iran's shipping, financial and energy sectors, the second batch of penalties to be restored.

And China said on Monday its lawful trade cooperation with Iran should be respected and expressed regret that the United States re-imposed sanctions on the Middle Eastern country.

Former Trump State Department senior adviser Christian Whiton on how the Trump administration is going to reimpose all sanctions on Iran that were previously lifted by the Obama administration.

On Monday, November 5th, the new U.S. sanctions against Iran take effect.

The United States has given temporary exemptions to eight countries - including India, Japan and Turkey - to continue buying oil in a bid to avoid disturbing their economies and global markets. "We will ultimately move Iran to zero crude oil". "Essentially the sanctions that were taken off are snapping back", said Katherine Bauer, the Blumenstein-Katz Family Fellow at the Washington Institute.

Rouhani also vowed that Iran would break the sanctions.

Among events held on the embassy anniversary was a cartoon exhibit called "Donald Salman" - a reference to the close ties between the US President and King Salman, ruler of Iran's arch-rival for regional predominance, Saudi Arabia.

Reuters in June reported that SBI would stop handling payments from Iran oil purchases from November, when stringent US sanctions against Tehran will kick in. Iran is the world's No. 3 oil exporter. "Watch as we've already taken more crude oil off the market than any time in previous history", he told CBS's "Face the Nation" on Sunday.

The European Union has established a mechanism to permit its multinational companies to maintain presences in Iran, but all signs are that the U.S. sanctions will be dissuasive.

US officials said the jurisdictions that had been given waivers would be identified on November 5, although they have not yet been disclosed. While Chief Cabinet Secretary Yoshihide Suga declined to detail any potential sanction waivers, he said his government had asked Washington that sanctions should not have an adverse impact on Japanese companies. "We are in the economic war situation".

Speaking about whether the European Union can help Iran in solving its problems, the expert stressed that the sanctions increase the risks associated with investing in Iran, which leads to a decrease in the credibility of this country at the worldwide level, and the demand for Iran's goods and services decreases. While at the moment not threatening to resume higher enrichment, Iranian officials in recent months have made a point to warn the controversial process could resume at any time, faster than before.

"The effect of the initial sanctions is already being felt - the rial is at a low, Iran's economy is depressed and we're already seeing results on the ground", he added.

"Saudi Arabia can produce 12 million barrels a day, but only if it invests", said Hancock, noting that the country now produces just under 11 million barrels a day.

Iranian army Gen. Habibillah Sayyari said both the national army and the country's paramilitary Revolutionary Guard were taking part in the exercise.

Meanwhile, in Tehran, demonstrators poured onto the streets to mark the 39 anniversary of the occupation of the USA embassy there, an action that precipitated a protracted hostage standoff that helped tank President Carter's chances at re-election and almost took down the Reagan administration amid the Iran-Contra scandal.

Rouhani separately said leaders from "four powers" met with Iran on the sidelines of the September meeting of the United Nations General Assembly to try to save the deal, including brokering a possible meeting with Trump.

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