US Sanctions on Iran to Resume

Alicia Cross
August 7, 2018

Tuesday's round of sanctions affects, among other things, the Iranian purchase or acquisition of United States dollar banknotes and of gold and precious metals, and will also weigh on significant transactions in the Iranian rial and have an impact on the country's sovereign debt and its automotive industry.

"If they (sanctions) are applied, then that person can go to the court to recover that damage". "But they need to return to [the Iran nuclear deal]".

The Monday announcement marks the end of a transition period the administration gave companies to wind down contracts with Iran in order to avoid penalties.

The Trump administration said it was ultimately seeking a new deal "that addresses the totality of the Iranian threat", even as Tehran and key U.S. allies have scoffed at the notion of renegotiating the 2015 nuclear accord.

Speaking to IRIB, Rouhani said Trump's offer to negotiate is aimed at "creating divisions" in Iran, accusing him of trying to launch a "psychological warfare" against the Iranian people.

President Donald Trump's administration announced on Monday it would reinstate sanctions Tehran after it withdrew from the Iran deal - and the Islamic Republic has made no shortage of vitriolic threats about what it might do in response. Shortly after it was negotiated, Republicans in Congress tried, and narrowly failed, to pass a resolution formally disapproving of the executive agreement. Trump decided in May to withdraw from the accord. He says the US policy is to levy "maximum economic pressure" on the country.

But due to the weight of Wall Street - both in raising capital for European companies and the level of USA institutional shareholder investment - they can not subject their companies to the risk of secondary U.S. sanctions.

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Mr Trump argues that the deal will not prevent Iran from finding ways to develop nuclear weapons.

A staff member removes the Iranian flag from the stage after a group picture with foreign ministers and representatives of the U.S., Iran, China, Russia, Britain, Germany, France and the European Union during the Iran nuclear talks at the Vienna International Center in Vienna, Austria July 14, 2015.

The EU announced that its "blocking statute" - aimed at "sustaining trade and economic relations between the EU and Iran" in the face of renewed USA sanctions - will enter into force on the same day as the restored sanctions.

Or as Secretary of State Mike Pompeo put it Sunday, the prospect of sanctions relief would "require enormous change" from Iran's leadership.

"The president has been very clear", a senior administration official told reporters in a call explaining the sanctions Monday. The protesters are angry about corruption within the regime and the use of the country's wealth to fund malign activities in the region instead of helping the Iranian people.

To this point, however, Tehran has been unimpressed with such overtures.

Michael Eisenstadt, an expert on Middle Easter security and defense told reporters on the Washington Institute's call that while Iran had talked a big game, it carefully measured its actions to avoid a strong United States response. "United States hypocrisy knows no bounds".

Other reports by Free-Prsite

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