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Bangla Insider

Trump to reinstate sanctions on Iran?

Published on : 03 November 2018, 01:51 PM
Trump to reinstate sanctions on Iran?


The United States has decided to redouble its pressure on Iran. Trump administration announced on Friday (local time) that it would once again impose all the sanctions against Tehran that it lifted with the signing of the 2015 nuclear agreement and that would affect exchanges in energy, transport, and finance, including the Iranian central bank.

The list, which will go into effect on Monday, also includes 700 Iranian companies and individuals with whom the rest of the world will not be able to do business at the risk of suffering heavy fines from Washington.

The sanctions will have some significant exceptions. The US government will allow eight countries for a "few months" to continue importing Iranian oil. These countries include India, South Korea, Turkey, and Iraq, although the State Department did not provide a list of them. He revealed that, among them, the European Union is not present in the list. Washington also confirmed that Iranian banks that are not sanctioned by the US may continue to operate in the international financial transaction system Swift but warned that it will closely monitor that framework. Of the companies and individuals sanctioned, 300 had not been penalized in the past.

The Trump Administration thus ends the second and last phase of the resumption of reprisals against Tehran since the president announced last May the departure of Washington from the nuclear pact of 2015, reached with five other countries (Germany, France, United Kingdom, China and Russia) and emblem of the foreign policy of his predecessor, Barack Obama.

Secretary of State Mike Pompeo insisted that the exceptions are "temporary" and that countries have pledged to completely reduce their imports of Iranian crude. Washington is looking for a difficult balance: keeping the price of oil stable - given that a rise would hit consumers and unleash global turbulence - while trying to sink Tehran`s revenues.

It is to be noted that Iran exports one million fewer barrels of crude per day since May 2017 and it has accused Trump of waging "psychological warfare".

Bangla Insider/ZRM