Netanyahu calls start of new Iran sanctions a 'historic day'

Share
Netanyahu calls start of new Iran sanctions a 'historic day'

Secretary of State Mike Pompeo on Sunday issued a thinly veiled warning to Russian Federation and China putting both countries on notice that it will suffer the consequences if they continue to purchase Iranian oil after USA economic sanctions on such exports snap back this week.

They could upset world oil markets, though the United States has granted temporary waivers to eight jurisdictions to continue importing Iranian oil. Experts predict oil exports will drop further in the near future. This could continue even in FY19.

The U.S. president abandoned the nuclear agreement in May, accusing Iran of violating the deal.

"All eyes will be on Iranian exports, whether there will be some cheating around U.S. sanctions, and on how quickly production will fall", said Riccardo Fabiani, an analyst for Energy Aspects. "Alternatively, we have asked other Opec countries to help us get our requirement of crude at better terms".

Among the targets are 92 entities owned or controlled by Ghadir Investment Company, which the U.S. government had previously identified as an investment firm with ties to the Execution of Iman Khomeini's Order, a state-owned enterprise under direct control of Iran's Supreme Leader.

China says it is conducting normal cooperation with Iran within framework of global law. They blamed Israel for the attack and both referenced Stuxnet, which destroyed thousands of centrifuges involved in Iran's contested nuclear program in 2011. We've been able to do that in a way that hasn't had a huge impact on crude oil prices. But New Delhi is keen to continue buying oil from its traditional ally.

However, some Iranians have taken to Twitter to vent their frustration with the regime, with the hashtag #Sorry_US_Embassy_Siege attracting more than 19,000 tweets.

India will revive a previous arrangement of making payments in an account in UCO Bank, which does not have worldwide exposure and is therefore not vulnerable to sanctions.

Rouhani separately said leaders from "four powers" met with Iran on the sidelines of the September meeting of the United Nations General Assembly to try to save the deal, including brokering a possible meeting with Trump. Also, the earlier practice of routing money for oil through UCO Bank and IDBI Bank may be explored. They will also add 300 new designations in Iran's oil, shipping, insurance and banking sectors. The waiver would be granted for six months period and then would be re-evaluated by the United States, Special US Representative on Iran, Brian Hook told reporters.

Under US law, exceptions can be granted for up to 180 days.

Also in its press release, the administration declared it is "providing fewer exceptions to sanctions than the last administration".

"The sanctions will force Iran's hand as Mike Pompeo argued that at the rate that the Iranian economy is declining, and protests are intensifying, it should be clear to the Iranian leadership that negotiations are the best way forward", said Dr. Albadr Al-Shateri, politics professor at the National Defense College in Abu Dhabi.

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". While, oil futures were at $72.80 a barrel in London on Friday.

Share

Advertisement

Related Posts

Plan for European 'Super League' of 16 top football clubs leaked
Eleven of the founder clubs would be guaranteed immunity from relegation for a period of 20 years from the start of the league. A report Bayern Munich and Karl-Heinz Rummenigge tried to form a European "Super League" has been rejected by both parties.

UK's PM May odds of Irish border deal "50-50"
The government has previously said the withdrawal agreement is 95 percent complete and that there's also been progress in talks on the future relationship.

Arsenal 1-1 Liverpool: Liverpool players' rating
On the other hand, Arsenal's backline has been a cause for concern, considering they have conceded 13 goals so far. The Liverpool keeper had a bad game and made a number of bad decisions during the game.

Pompeo confident Iran will not restart nuclear program as United States reimposes sanctions
Hardliners hold protests to commemorate the siege every year but on Sunday, protesters also vented their fury about the sanctions. Exports to India concurrently dropped, according to Bloomberg, while China, Tehran's biggest oil buyer, has not cut purchases.

Alexis Sanchez starts for Manchester United at Bournemouth, but Romelu Lukaku absent
The 27-year-old is certainly the best player we have at United and was brilliant in our 2-1 win over Bournemouth on Saturday. Jose Mourinho singled out Ander Herrera after United's 2-1 win at Bournemouth on Saturday afternoon.

‘Broad City’ Star Ilana Glazer Cancels Brooklyn Political Event After Synagogue Vandalized
A source told the New York Post that the messages included the phrase " Kill all Jews " scrawled on a door. The Pittsburgh shooting suspect had allegedly yelled, " All Jews must die ", before the massacre.

Saudis sent ‘cleaners’ to Istanbul 9 days after Khashoggi murder
Otherwise Saudi wouldn't have started an internal investigation", Salah said. Oktay echoed the president's question in Monday's interview.

Twitter removed automated accounts discouraging voting
Twitter this week took down 10, 000 accounts encouraging voter suppression, Reuters revealed this week. The messages were signed the names of the representatives of the democratic party.

Everton fans react to Idrissa Gana Gueye performance v Brighton
Everton v Brighton will be the commentary game on Premier League Live with Sky Sports which gets underway at 2.00 on Today FM. Hughton told The Argus: "Probably what will hit home to me is in our last four games we've got three wins and one loss".

Pep Guardiola believes in-form Raheem Sterling can get even better
I am not asking Sergio to be Gabriel (Jesus) or Kyle Walker but I am asking for the best Sergio...to be aggressive, with and without the ball".

© 2015 ExpressNewsline. All Rights reserved.