Iran sanctions: Trump warns trading partners

07 August, 2018, 16:21 | Author: Clarence Schmidt
  • Iran FM says Trump, Mohammed Bin Salman, Netanyahu are ‘isolated’

Iran accused the United States of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest.

Their plans were upended in May, when President Donald Trump made a decision to withdraw from the Iran nuclear accord and reimpose economic sanctions, the first wave of which took effect at midnight on Tuesday.

The renewed sanctions were among those lifted under a 2015 deal between world powers and Tehran on curbing Iran's nuclear program. Russian Federation and China also signed on to the 2015 deal. She made the announcement on the same day renewed US trade sanctions against the Islamic Republic restarted.

The EU said it is simultaneously implementing a "blocking statute" as the new sanctions take effect, stopping European companies from complying with the US sanctions unless they have permission to do so. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level. "I am asking for WORLD PEACE, nothing less!" he tweeted.

In a statement on Monday just hours before the sanctions went back into effect, Trump said: "The Iranian regime faces a choice".

"They've got to behave like a normal country".

Daimler (DDAIF) said in a statement that Iran's automotive markets have been significantly weaker than expected, and it had not yet resumed production or sale of Mercedes cars or trucks in the country.

"We've seen company after company announce that they are getting out of Iran", the officials said.

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.


But Iranian President Hassan Rouhani was unimpressed by the offer.

He said Iran's leaders may need to "drink the poison cup" and negotiate with the US.

He dismissed the proposal for talks as a stunt to sow chaos in Iran and confuse American voters at home ahead of mid-term elections in November.

"If you're an enemy and you stab the other person with a knife, and then you say you want negotiations, then the first thing you have to do is remove the knife", the Iranian leader said in an interview on state television.

The Obama-era Iran deal did not moderate the regime's actions as was hoped. Trump abandoned the deal in May.

European firms must seek a legal exemption for withdrawing from Iran due to USA sanctions and those failing to do so could be penalized by their governments. Its currency the rial has lost nearly two-thirds of its value in six months.

There have been protests in Iran this year against rising prices, and the security forces have responded firmly.

A first phase of US sanctions against Iran went into effect midnight, targeting Iran's access to USA banknotes and key industries including cars and carpets.

"[Sanctions] will definitely make daily life harder for Iranians", said Saeed Leylaz, a Tehran-based economist and political analyst.

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