USA reimposes Iran sanctions in 'maximum pressure' campaign

A gas flare on an oil production platform in Iran's Soroush oil fields

A gas flare on an oil production platform in Iran's Soroush oil fields

The Secretary of State said that the President Donald Trump Administration has targeted as many as 168 Iranian entities through 19 rounds of sanctions since it came into office in 2016, adding that "today's sanctions will accelerate the rapid decline of global economic activity in Iran since the implementation of our strategy in May".

Late last week, USA government officials signaled that the United States would be granting waivers to eight countries to continue temporarily buying Iranian oil, on the condition that they had significantly reduced purchases from Iran.

Besides China, Greece, India, Italy, Turkey, South Korea, Taiwan and Japan get USA sanctions waivers for Iran oil imports.

U.S. President Donald Trump, who terminated the hard-won Iran nuclear accord on May 8, said that it was "one of the worst and most one-sided deals the United States has ever entered into".

Turkey is among eight nations granted temporary waivers from sanctions the USA reimposed Monday on Iran's oil sector. "We will continue talking to the rest to bring oil imports to zero", Pompeo said. Those governments make up a majority or Iran's oil exports.

"If they try to evade our sanctions, we will take actions to obstruct their activity time and time again".

South Korea, the world's fifth-biggest crude oil buyer, mainly imports an ultralight form of crude oil, condensate, from Iran, which accounts for 74 percent of its oil purchases from that country.

"Our ultimate goal is to convince the regime to abandon its current revolutionary course", Pompeo said announcing the sanctions on Monday.

"We can see. the JCPOA was so much in favor of Iran's interests that America withdrew from it scandalously", Zarif told Iran's parliament. "I don't want to lift oil prices".

On Monday, the administration said it restored previously lifted sanctions on Iranian banking, shipping and energy.

Despite this, Iran remains confident that it will be the USA who comes out worse.

"The countries will deposit Iran's revenue in an escrow account, US officials have said".

The worldwide activities at Bushehr, Iran's only nuclear power station, as well as the Fordow enrichment plant and the Arak heavy water reactor will be allowed "to continue under the strictest scrutiny to ensure transparency and maintain constraints on Iran", the State Department said in a statement. "It will be gradual", the United States president said.

Iran said on Monday it would break the sanctions and continue to sell oil overseas.

During the annual UN gathering of world leaders in September, Trump chaired a council meeting that focused heavily on Iran, laying bare the rift between the United States and other powers on the nuclear deal. Today, the Japanese government, namely the Economy, Trade and Industry Ministry, informed us of the fact that Japan has been exempted from sanctions.

Latest News