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U.S. restores sanctions against Iran

5 November 2018 18:00 (UTC+04:00)
U.S. restores sanctions against Iran

By Abdul Kerimkhanov

The administration of President Trump intends to restore all sanctions against Iran, which were lifted as a result of the 2015 agreement.

Trump decided to restore sanctions on the eve of difficult mid-term elections that could change the balance of power in Congress.

A statement from the White House says that the sanctions will be the toughest ever against this country and will be directed against the shipping, energy and banks of Iran.

New U.S. sanctions will come into force on November 5 and will affect the leading sectors of the Iranian economy.

The sanctions list includes the names of more than 700 individuals, organizations, ships and aircraft, as well as the largest banks, oil and transport companies.

This is the second wave of sanctions imposed by the Trump administration since May of this year.

However, the new sanctions will not affect the eight countries participating in the agreement with Iran, which can continue to import Iranian oil.

Among the eight are the following American allies: Italy, Japan, India, South Korea, and Turkey.

Violators of the sanctions regime against Iran are waiting for "severe consequences", warned the White House.

Iranian Foreign Ministry declared that Tehran is not concerned about another tightening of U.S. sanctions.

A spokesman for the Ministry of Foreign Affairs in Tehran, Bahram Kasemi, said that Iran has the necessary knowledge and resources to conduct an independent economic policy.

He stressed that America will not achieve its economic goals with the help of such sanctions. Achievement of political goals in this way is impossible, Kasemi believes.

Earlier, Iranian Foreign Minister Mohammad Javad Zarif said that U.S. will not achieve its goals by imposing new sanctions against Iran and nothing new will happen because of them. American sanctions, rather, will have a psychological effect, stressed Zarif.

Economic sanctions against Iran are a system of economic sanctions (discriminatory trade restrictions) imposed by U.S. government on Iran associated with missile and nuclear programs in Iran.

In 2012, the Iranian government ceased, in response to sanctions by Western countries, the sale of oil to the U.S. and the UK, and from the beginning of 2013 to the EU.

After Iran made concessions on the nuclear program, in 2016 the U.S. authorities announced the lift of sanctions from 59 individuals (citizens of Iran and other countries), 385 enterprises, 77 planes and 227 ships.

In 2018, the Trump administration restored sanctions against Iran.

U.S. President Donald Trump announced in May that Washington was withdrawing from an agreement on a nuclear program with Iran. Trump also reported on the restoration of all sanctions against Iran, including secondary ones, that is, in relation to other countries doing business with Iran. The United States re-introduced part of the sanctions against Iran on August 7. More substantial sanctions that will cover oil exports are expected from the beginning of November.

From August 7, 2018, the updated Blocking Statute entered into force in the EU, the provisions of which are aimed at protecting European companies from the influence of U.S. extraterritorial sanctions.


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