Saturday, 17 November, 2018

Restored U.S. sanctions on Iran cover shipping, financial and energy sectors

This image taken from the Twitter account of President Donald J. Trump @realDonaldTrump shows what looks like a movie-style poster that takes creative inspiration from the TV series 'Game of Thrones' to announce the re-imposition of sanctions Donald Trump Goes All ‘Game Of Thrones’ With Iranian Sanctions Reimposition
Laurie Berry | 04 November, 2018, 18:19

President Donald Trump withdrew from the deal in May, describing it as "defective at its core".

"Even if the United States grants exemptions, Washington will demand that the volume imported from Iran be significantly reduced", said UBS analyst Giovanni Staunovo, who expects prices to rise.

The aim of 10-year agreement was to boost production at the fields by a third to 48,000 barrels per day, with the fields expected to produce a total of 67 million barrels of oil over a decade.

Turkey and Iraq will receive exemptions from U.S. sanctions on Iran when they come into force on Monday, according to officials from both countries.

The students believed the U.S. would launch a counter-coup to return deposed shah Mohammad Reza Pahlavi to power - similar to the CIA-backed coup that overthrew Iran's elected government in 1953 - unaware that the king was already critically ill with cancer.

The names of more than 700 individuals, entities, vessels and aircraft will be put on the sanctions list, including major banks, oil exporters and shipping companies.

But only time will tell if Iran's regional policy has changed sufficiently to satisfy Trump and achieve his goals.

Mahmoud Sadeghi, an Iranian politician, said the move would further unite the Iranian nation against the threat of Trump's "bullying tactics". For a time, prices had some support on hopes that renewed USA sanctions on Iran would force barrels off the market.

"Unlike in prior administrations, we will ensure that the money is not spent on illicit activities, that there isn't any leakage in these escrow accounts, and we will work closely with countries to encourage the sale and purchase of humanitarian goods to benefit the Iranian people".

Saudi embassy road in London 'renamed Khashoggi Street'
A top Turkish official has said he believes Jamal Khashoggi's body was dissolved in acid after being cut up. Turkey wants them extradited. "The killing of Khashoggi is inexplicable", said Erdogan.

The US sanctions on Iran's petroleum sector are scheduled to go into effect Monday.

The United States believes global oil supplies will exceed demand next year, making it easier for countries to cut Iranian oil imports to zero, Brian Hook, the USA special representative for Iran, told reporters.

"There's a key fact here: in this 40-year challenge, the defeated is the USA and the victorious is the Islamic republic".

Iran said it was not troubled over the re-imposition of USA sanctions, which target not only its vital oil and gas sector but also shipping, ship-building and banking industries.

"We would lose foreign currency revenue had we'd been hit by the sanctions".

On these, as on other topics, our work continues, including with Russian Federation and China as participants to the JCPOA and with third countries interested in supporting the JCPOA. These countries were reported to include U.S. allies Japan, India, South Korea, Italy and Turkey.

However, the United States is expected to give a short-term waiver to eight countries which could include India because of its commitment to significantly reduces import of oil from Iran.

The report discusses an unsealed indictment in the United States which "provides detail on Iran's use of deceptive practices to procure export controlled items with military applications from the USA and elsewhere".

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