Once-eased U.S. economic sanctions against Iran back in effect

Once-eased U.S. economic sanctions against Iran back in effect

The sanctions follow the U.S. withdrawal from the Joint Comprehensive Plan of Action, also known as the Iran nuclear deal, earlier this year.

Trump's tweet came shortly after the EU and heavyweight members Germany, France, and Britain on Monday expressed "deep" regret and vowed to protect Europeans doing "legitimate" business with Iran. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level.

The official said the United States expects Iran will blame it for any new hardships, saying, "They've been doing it for nearly 40 years. I can't afford to buy food, pay the rent." said a construction worker on the streets of the capital. European allies said they "deeply regret" the US action.

"Talk to anyone, anywhere in the world and they will tell you that (Israeli Prime Minister Benjamin) Netanyahu, (US President Donald) Trump and (Saudi Crown Prince Mohammed) bin Salman are isolated, not Iran", he said. "We are encouraging small and medium enterprises, in particular, to increase business with and in Iran".

He called on the countries of Europe to join the USA, saying, "The time has come to stop talking; the time has come to do".

His tweet early on Tuesday was a warning to business partners, after the European Union announced it would try to shield companies continuing to trade with Iran.

Rouhani, who has denounced Trump's decision to quit the accord, is expected to address his nation later on Monday.

"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", he told state television.

Iranian Foreign Minister Mohammad Javad Zarif told reporters the global reaction to Trump's move showed that the United States was diplomatically "isolated". "Negotiations with sanctions doesn't make sense".

President Trump said on Monday the U.S. was "fully committed to enforcing all of our sanctions" and would aim "to ensure complete compliance".

So-called snapback sanctions, due to come into force early on Tuesday, target Iranian purchases of USA dollars, metals trading, coal, industrial software and its auto sector.

The European Commission said it will grant exceptions if the company can prove that it is leaving Iran for reasons not linked to the U.S. threat.

Washington suspended the financial measures under the 2015 deal under which global sanctions were lifted in return for curbs on Iran's nuclear programme.

The renewed sanctions are part of the broader strategy under Trump aimed at cutting off the Iranian leadership's access to resources.

The Blocking Statute was introduced in 1996 in response to U.S. extra-territorial sanctions against companies operating in Cuba, Iran and Libya.

The two other signatories to the 2015 pact - Russian Federation and China - also continue to support it.

Tehran also agreed in perpetuity to notify United Nations inspectors if and when it builds a new nuclear facility.

According to figures from the International Organization of Motor Vehicle Manufacturers (OICA), Iran was the 12th biggest auto market on the planet in 2017, with sales in the region of 1.5 million cars.

Daimler was joined by major companies including Boeing (BA), Airbus (EADSF), Total (TOT) and Siemens (SIEGY), all of which sought to capitalize on pent up demand in Iran for consumer products and improvements to infrastructure and equipment.

The US was an original signatory to the agreement with Iran, along with Britain, France, Germany, Russia, China and the EU. On 8 May, he made good on a pledge to pull the U.S. out of the worldwide agreement.

"Prices have been increasing for three or four months and everything we need has become so expensive, even before sanctions returned", said Yasaman, a 31-year-old photographer in Tehran.

He called the landmark 2015 agreement "horrible", claiming it left the Iranian government flush with cash to fuel conflict in the Middle East.

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