America dismisses European Union ‘blocking statute’ as Iran sanctions finally bite

America dismisses European Union ‘blocking statute’ as Iran sanctions finally bite

America dismisses European Union ‘blocking statute’ as Iran sanctions finally bite

Despite the USA move to restore the sanctions, which Secretary of State Mike Pompeo reaffirmed in Alaska late Sunday, the Europeans said they would continue to work with Iran to preserve the deal. Individuals or entities that fail to wind down activities with Iran risk severe consequences.

On July 30, Trump offered to meet Iranian President Hassan Rouhani without preconditions.

The White House is on the verge of reinstating sanctions against the Islamic Republic that were lifted following the historic nuclear deal sealed between Tehran and world powers in 2015.

"But talks need honesty", Rouhani said in a speech broadcast live on state television. US officials last week said Iran carried out a similar exercise, though Tehran did not immediately acknowledge it. "I don't have pre-conditions".

Rouhani has suggested Iran might block the Strait of Hormuz in response to a shutdown of its oil exports.

"The president has always said he is prepared to talk, but it's important that Iran has to be committed to changing its ways in order for those discussions to prove of any value", he added. "The US owes the Iranian nation for its intervention in Iran".

President Trump on Monday re-imposed some sanctions on Iran that had been suspended under former President Barack Obama's 2015 nuclear deal. The regime has used the windfall of newly accessible funds it received under the JCPOA to build nuclear-capable missiles, fund terrorism, and fuel conflict across the Middle East and beyond. 73 yrs later - w/ vastly expanded nuke arsenal it refuses to dismantle in defiance of NPT commitment - United States militarism hasn't faded.

Sanctions will also be reapplied to USA imports of Iranian carpets and foodstuffs and on certain related financial transactions. "Yet the very first sanctions it reimposed have canceled licenses for sales of 200+ passenger jets under absurd pretexts, endangering ordinary Iranians", the country's foreign minister, Javad Zarif, tweeted Monday. "United States hypocrisy knows no bounds". China and Russian Federation, the two other signatories to the 2015 agreement, have also said they will defy the US move.

The comment came just hours after Jeremy Hunt, the Foreign Secretary, issued a joint statement with the foreign ministers of Germany, France and the European Union expressing "deep regret" at America's decision to reimpose sanctions.

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The foreign currency from the export of Iranian goods could be funneled to the local market, the CBI chief said, adding that the free market itself will determine the value of currency. "We look forward to the day when the people of Iran, and all people across the region, can prosper together in safety and peace".

These have been impossible to verify and the authorities have charged that they are promoted by foreign-based opposition groups funded by the US, Israel and Saudi Arabia. "We are seeing a substantial impact".

Why is Iran's economy in a state at the moment?

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Hemmati said the government's decision in April to enforce a single exchange rate to the dollar had caused "serious problems" for the country.

While on the campaign trail and after taking office, Trump has panned the Iran deal-officially titled the Joint Comprehensive Plan of Action (JCPOA)-as a disaster.

The White House says that overnight, it will reinstitute regulations that, among other things, prohibit the Iranian government's use of US dollars and erect barriers to trade with Iran involving aluminum and steel, the Iranian automotive and airline industries, and gold and other precious minerals.

"The next 90 days will see increased economic pressure", an official said.

Heavier US sanctions, aimed at Iran's oil sector, are due in November.

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