Trump Touts Iran Sanctions

Trump Touts Iran Sanctions

The newly reimposed sanctions target transactions with US dollar banknotes; trade in gold and precious metals; direct or indirect sales of graphite and metals such as steel and aluminum; certain transactions related to the Iranian rial; certain transactions related to issuing Iranian sovereign debt; and Iran's automotive sector.

The United States also plans to re-introduce potentially more damaging sanctions on Iranian oil in November.

"We are determined to protect European economic operators engaged in legitimate business with Iran", she said in a statement.

The renewed sanctions were among those lifted under a 2015 deal between world powers and Tehran on curbing Iran's nuclear program.

Iran accused the U.S. of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest. The U.S. move has dismayed America's European allies trying to preserve the nuclear deal.

The German Economy Ministry said Berlin would continue to offer export and investment guarantees for firms doing business with Iran. Russian Federation and China also signed on to the 2015 deal. "I am asking for WORLD PEACE, nothing less".

The impact of the return of sanctions has ramped up tension inside Iran, which has seen days of protests and strikes in multiple towns and cities over water shortages, high prices and wider anger at the political system.

A European Commission spokeswoman on Monday (6 August) told reporters in Brussels that EU firms are banned from following USA demands to cut business ties with Iran, unless specifically authorised to do so.

Iran took a series of measures to try to limit the effect of USA sanctions on their economy over the weekend.

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

Most foreign businesses will not invest in Iran and will pull out, opting instead to stay in the good graces of the U.S. Anyone doing business with Iran will NOT be doing business with the United States.

Other countries have also asked European Union officials for details on the blocking regulations, as they explore ways to bypass sanctions.

"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.

The European Union opposes the new sanctions, and argues that the nuclear deal, from which the United States withdrew under the Trump administration, was and is vital to their security. "But talks need honesty", Rouhani said.

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.

The US has long designated Iran as the world's foremost state sponsor of terrorism, Pompeo noted Sunday, adding that the Islamic Republic can not expect to be treated as an equal in the global community until it halts such activities.

But the European Commission has implemented a previously unused regulation that seeks to cancel the effect of the U.S. policy on European companies doing "legitimate business" with Iran.

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