Trump Boasts About "Most Biting" Sanctions On Iran

Arturo Kim
August 7, 2018

The United States reimposed stiff economic sanctions on Iran on Monday, renewing pressure on the Islamic Republic despite statements of doubt from European allies, three months after President Donald Trump pulled the US out of the worldwide accord originally brokered by Barack Obama.

Mr Trump signed an executive order reintroducing financial sanctions on Iran and sent a letter to the leaders of Congress notifying them of changes, as required by U.S. law.

More US sanctions targeting Iran's oil sector and central bank are to be reimposed in early November.

European businesses that pull out of Iran because of USA sanctions may end up being sued by EU states.

US National Security Adviser John Bolton said Iran "could take up the president's offer to negotiate with them, to give up their ballistic missile and nuclear weapons programmes fully and really verifiably - not under the onerous terms of the Iran nuclear deal, which really are not satisfactory".

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

The European Union's diplomatic chief Federica Mogherini said the bloc deeply regrets the United States move.

And EU foreign affairs chief Federica Mogherini has gone further by urging European businesses to do their bit to save the Iran nuclear deal by boosting trade with the country. "I am asking for WORLD PEACE, nothing less", he added. The last time Iran was sanctioned, it lost half of its exports, which have now returned to 2.4 million barrels per day. The unilateral withdrawal came despite other parties to the agreement - Britain, China, France, Germany, Russia and the European Union - pleading with Trump not to abandon the pact aimed at blocking Iran from acquiring a nuclear weapon.

PSA (PUGOY), which makes Peugeot and Citroen cars, said in June that it has begun to suspend its joint ventures in the country in order to comply with USA law.

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"We are always in favor of diplomacy and talks...

By returning to the JCPOA", he said, using the technical name for the 2015 nuclear deal.

European enterprises can either comply with U.S. sanctions and face consequences in Europe for violating the "blocking statute" or keep doing business in Iran and face United States sanctions.

Iran's rial currency has lost half its value since April under the threat of revived US sanctions.

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

"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". "But talks need honesty". Its currency the rial has lost nearly two-thirds of its value in six months.

He said the U.S. has long designated Iran as the world's foremost state sponsor of terrorism.

It sets out to allow firms to recover damages from bodies that enforce U.S. sanctions - and bans companies from complying with United States sanctions without European Union permission.

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