Published: Wed, November 07, 2018
Economy | By

U.S. sanctions against Iran takes effect, 8 countries get waivers

U.S. sanctions against Iran takes effect, 8 countries get waivers

Some of the eight countries - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea - include OPEC member Iran's top customers.

The Trump administration has allowed European countries to continue cooperating with Iran's nuclear activities at a contested, secretive facility where Iran had wanted to make weapons-grade uranium, one of many loopholes in the recently announced sanctions reimposition that Iran hawks have criticized as being too weak.

"The US maintains it will do that but actually I think it's speaking slightly with a forked tongue because, although they will sometimes allow pharmaceuticals to get through and not be subject to American sanctions, the banks will not finance such trade and will not process payments". It also covers an Iranian airline, Iran Air, and more than 65 of its aircraft.

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

Rouhani said the European Union has stood against the US violation of the nuclear agreement which is a "success of diplomacy" for Iran.

"The JCPOA and the sanctions are not just about Iran but about a transformative process in the worldwide community whereby you have either global law, organisations, diplomacy, negotiations - or you have imposition, you have American policy versus the rest of the world", Sajjadpour said during in a talk at Chatham House think-tank.

On the eve of renewed sanctions by Washington, Iranian protesters carry placards that mock President Donald Trump, Saudi Arabia's King Salman and Crown Prince Mohammed bin Salman during a demonstration outside the former USA embassy in the Iranian capital Tehran on November 4, 2018, marking the anniversary of its storming by student protesters that triggered a hostage crisis in 1979.

The US says it wants to reduce Iran's oil exports to zero - a goal Mr Book says will depend on how closely the sanctions are observed.

"The question is will the buyers be willing to defy the United States and risk sanctions", he said.

"These exemptions are premised on significant reductions of Iranian oil imports by countries such as China and Turkey when there is minimal evidence of such reductions". China has publicly defied the USA call for curbs on oil imports from Iran.

And while Washington has spared Iraq the worst of the sanctions impact on Iran, the underlying politics continues to pose a major irritant on US-Iraqi relations.

Experts and analysts say the U.S. strategy is doomed to failure, and will likely end in humiliation for the USA, while Iran will gain confidence and power. Iran is already in the grip of an economic crisis.

All of the other signatories, China, the European Union, France, Germany, Iran, Russia and the United Kingdom, have remained in the deal despite U.S. action.

Iranian officials, meanwhile, reported a cyberattack targeting the country's communication infrastructure, blaming the purported attack on Israel.

There is already evidence that Iranian oil sector operatives are implementing tried-and-true evasion tactics that allowed some of the country's oil to move on the global market prior to the Obama-era easing of sanctions under the nuclear deal three years ago.

"Permitting these specific activities to continue is an interim measure that preserves oversight of Iran's civil nuclear program", according to the statement, which has sparked fierce pushback from Iran hawks.

Japan had sought a waiver during negotiations with the United States, saying that its imports of Iranian oil had been falling recently.

Like this: