United States permits activity at 3 Iran nuclear sites, even as sanctions renewed

07 November, 2018, 00:04 | Author: Eric Barnett
  • While sanctions on Iran may remain highly effective for a year or so it is highly unlikely they will continue to do so in their current form. Reuters

On Monday, Israeli Prime Minister Benjamin Netanyahu, who has led an anti-Iran campaign for years, thanked Trump "for a courageous, determined and important decision". He called the move "a big day for the state of Israel". The measures taking effect Monday restore all the sanctions that had previously been lifted under the accord, which had given Iran billions of dollars in sanctions relief in exchange for curbs on its nuclear program.

Washington in May withdrew from a 2015 nuclear deal signed between world powers and Iran under which global sanctions against Iran were lifted in return for curbs on its nuclear program.

Lord Lamont said a major concern was whether humanitarian supplies could reach the Iranian people, despite the usa saying these would be allowed.

Hua urged all sides to keep in mind "long-term interests, fulfill their obligations and responsibilities and choose to stand on the right side of history".

Rouhani said four countries had approached him during his visit to NY for the UN General Assembly in September, offering to mediate with the USA but he turned them down.

U.S. West Texas Intermediate (WTI) crude futures were down 35 cents, or 0.6 percent, at $62.79 a barrel. Stuxnet is widely believed to be an American and Israeli creation, though neither country has acknowledged being behind the attack.

"We will proudly break the sanctions", Iran President Hassan Rouhani said during a meeting of government officials in the Iranian capital.

South Korea said on November 5 it has been granted a waiver to at least temporarily continue to import condensate, a super-light form of crude oil, from Iran and also still continue financial transactions with the Middle East country.

The International Monetary Fund forecasts that U.S. sanctions will cause Iran's economy to contract 1.5 percent this year and 3.6 percent next year - pain that Trump has boasted about as he touts his record ahead of Tuesday's congressional elections.

Mr Pompeo has described them as "the toughest sanctions ever put in place" on the country.

The sanctions cover 50 Iranian banks and subsidiaries, more than 200 people and vessels in its shipping sector, and targets Tehran's national airline, Iran Air, and more than 65 of its aircraft, a US Treasury statement said.

"The assumption is, we cut the money of the oil, then Iran will be deprived, then Iranian people will revolt, then the system will be changed, then we are fine, then the paradise will come", he said in a Chatham House talk in London. He spoke to a conference of economists, who he said were at the "forefront of the resistance" against the United States.

Trump on Monday said he wants to impose sanctions on Iran's oil gradually, citing concerns about shocking energy markets and causing global price spikes.

The developments raise Mideast tensions as America's maximalist approach to the Islamic Republic takes hold. The others had sanctions that were lifted as part of a nuclear deal world powers struck with Iran reimposed. While at the moment not threatening to resume higher enrichment, Iranian officials in recent months have made a point to warn the controversial process could resume at any time, faster than before.

Ellen R. Wald, a nonresident senior fellow with the Atlantic Council think tank's Global Energy Center, noted reports of ghost ships "turning off [their tracking devices] for longer periods" and paving the way for ship-to-ship oil transfers and cash sales on the high seas without worldwide detection. Its national currency has plummeted over the past year, sending prices for everything from mobile phones to medicine skyrocketing.



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