Publicado: Mar, Noviembre 06, 2018
Financiera | Por Marilu Caballero

Turkey among 8 nations given Iran sanctions waivers

Turkey among 8 nations given Iran sanctions waivers

Iranian rials, US dollars and Iraqi dinars are seen at a currency exchange shop in Basra, Iraq November 3, 2018.

This means that significant parts of Iran's civilian nuclear program were effectively given a waiver from the USA sanctions, imposed on Monday as part of Washington's withdrawal from the 2015 Joint Comprehensive Plan of Action (JCPOA) nuclear deal.

Trump is trying to cripple Iran's oil-dependent economy and force Tehran to quash not only its nuclear ambitions and its ballistic missile program but its support for militant proxies in Syria, Yemen, Lebanon and other parts of the Middle East. "The Iranian regime has a choice: It can either do a 180-degree turn from its outlawed course of action and act like a normal country, or it can see its economy crumble". Struck in Vienna after almost two years of intensive talks, the agreement limited the Iranian programme - reassuring the rest of the world that it would be unable to develop nuclear weapons - in return for sanctions relief.

The move restores, and strengthens, sanctions lifted under a 2015 global agreement on Iran's nuclear program from which Washington withdrew in May.

Critics also say it is another example of Trump dismantling Barack Obama's legacy - the Iran deal was his signature foreign policy achievement.

"We are in the war situation", President Hassan Rouhani said in a television address as the sanctions snapped into place. But US bullying is backfiring, not just because JCPOA is important, but because the world can't allow Trump & Co.to destroy global order.

"We have to make Americans understand that they can not talk to the great Iranian nation with the language of pressure and sanctions", Rouhani said in televised remarks.

Pompeo also said without specifying that the United States would exempt three non-proliferation projects underway in Iran from the sanctions.

United States sanctions permit trade in humanitarian goods such as food and pharmaceuticals, but measures imposed on banks and trade restrictions could make such items more expensive.

The new sanctions target Iran's lucrative oil industry - of which it is the world's third biggest exporter - but major customers including China and India have been given temporary exemptions by the US.

The US appears to have heeded Alamolhoda's warning as the sanctions, announced today by US secretary of state Mike Pompeo, fell short stopping oil exports from Iran entirely.

Iran's clerical rulers dismissed the curbs.

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"The shadow of the sanctions has already affected the economy in a disastrous way, people's purchasing power has plunged", said Ehsan Attar in his herbal remedy shop.

"Moscow will do everything it can to preserve and expand worldwide trade, economic and financial cooperation with Iran despite the USA sanctions", the state-run TASS news agency reports, citing the Russian foreign ministry.

Washington has, however, already lent some countries with economic ties to Iran some leeway. After 90 minutes the USA will have nothing in this country.

Donald Trump promised to "dismantle the disastrous deal with Iran" long before he was elected president in November 2016.

Trump unilaterally withdrew the US from the 2015 Joint Comprehensive Plan of Action in May, setting the stage for Washington to reimpose all of the sanctions it lifted as part of the agreement. That deal was backed by European powers, Russian Federation and China and sealed by a UN Security Council resolution.

The sanctions freeze any assets that those targeted have in U.S. jurisdictions and bar Americans from doing business with them.

"If there is bilateral trade and in exchange of crude, the Iranian government makes payment in Indian rupees to Indian exporters then there can be a jump of 20-25% in exports to Iran", he said.

Initially Trump reluctantly waived a raft of sanctions against Iran.

Turkey is among eight nations granted temporary waivers from sanctions the US reimposed Monday on Iran's oil sector.

The International Monetary Fund forecasts that U.S. sanctions will cause Iran's economy to contract 1.5 percent this year and 3.6 percent next year - pain that Trump has boasted about as he touts his record ahead of Tuesday's congressional elections. The U.S. wants to reduce Iran's oil exports to zero, but the waivers ensure this will not happen, at least in the short term.

"We hope a new agreement with Iran is possible".

The curbs come as the United States is focused on U.S. congressional and gubernatorial elections on Tuesday.

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