Second Wave of US Sanctions on Iran Starts Today
IN FOCUS, 5 Nov 2018
5 Nov 2018 – The US will reimpose today more sanctions lifted under a 2015 nuclear pact world powers struck with Iran.
The new wave of sanctions, the second since August, will target Iran’s energy, shipbuilding, shipping, and financial sectors.
The US has been trickling out a list of 12 demands Iran must meet if it wants to see sanctions lifted ahead of their reimposition today.
In all, eight countries will receive temporary waivers to allow them to continue importing Iranian oil after the penalties take effect.
The European Union is not one of the recipients, according to Pompeo who said those who receive waivers “have made important moves towards getting to zero crude oil importation.”
Two of the countries have agreed to reduce imports to zero while six others “will import at greatly reduced levels,” according to the US announcement on Friday.
“These negotiations are still ongoing,” said US Secretary of State Mike Pompeo.
The US expects to have reduced Iranian oil exports by more than 1 million barrels even before Monday’s tranche of economic penalties.
In all, 700 Iranian entities will be added to sanctions lists, according to Treasury Secretary Steven Mnuchin.
More than half, or about 400, will have had their designations lifted as part of the 2015 Joint Comprehensive Plan of Action while roughly 300 will be new designations.
US President Donald Trump unilaterally withdrew Washington from the pact in May despite objections from close allies in Europe.
All of the other signatories – China, the European Union, France, Germany, Iran, Russia, and the United Kingdom – have remained in the deal despite the U.S. action.
The accord provided Iran with billions of dollars in relief from international sanctions in exchange for sweeping curbs on and inspections of its nuclear program.
On Friday, the EU, Germany, Britain and France said in a joint statement that they “deeply regret the further reimposition of sanctions by the United States”.
On late Friday, Turkey’s Energy and Natural Resources Minister Fatih Donmez said they have information that the US will grant Turkey a waiver to continue importing oil from Iran after sanctions, but they don’t have all the details yet.______________________________________________
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License. If the image(s) bear our credit, this license also applies to them.
DISCLAIMER: The statements, views and opinions expressed in pieces republished here are solely those of the authors and do not necessarily represent those of TMS. In accordance with title 17 U.S.C. section 107, this material is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. TMS has no affiliation whatsoever with the originator of this article nor is TMS endorsed or sponsored by the originator. “GO TO ORIGINAL” links are provided as a convenience to our readers and allow for verification of authenticity. However, as originating pages are often updated by their originating host sites, the versions posted may not match the versions our readers view when clicking the “GO TO ORIGINAL” links. This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a ‘fair use’ of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond ‘fair use’, you must obtain permission from the copyright owner.