Publicado: Mier, Noviembre 07, 2018
Financiera | Por Marilu Caballero

United States sanctions target Iran's oil exports, shipping and banks

United States sanctions target Iran's oil exports, shipping and banks

The US secondary sanctions have been re-imposed at the end of a 180-day wind down period which followed the announcement that the US was pulling out of the Iran deal.

The sanctions target Iran's energy, financial and shipping sectors and are aimed at crippling the country's economy following President Donald Trump's withdrawal from the 2015 nuclear deal.

The Trump administration on Monday reimposed the last set of sanctions lifted under the Iran nuclear deal.

The U.S. Treasury announced in a statement on Monday that more than 700 Iran-related individuals, entities, aircraft and vessels were added to its blacklist as part of the move.

"Here we have a situation where an agreement created to stop Iran acquiring nuclear weapons has been complied with by Iran, an agreement struck in good faith, and it's been torn up by one party".

"We have made a decision to issue temporary allotments to a handful countries responsive to the specific circumstances and to ensure a well supplied oil market", Pompeo said.

After pulling the U.S. out of the deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the administration began reimposing sanctions on the Islamic Republic in August.

Joint output from Russian Federation, the United States and Saudi Arabia rose above 33 million bpd for the first time in October, up 10 million bpd since 2010, with all three pumping at or near record volumes.

"We're going to have sanctions that even go beyond this".

The u.s. sanctions are similar to a blackmail against third countries that trade now with Iran: the asian business or european will be banned from us market if they continue to import iranian oil, or to trade with iranian banks targeted by Washington.

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Iran's clerical rulers have dismissed concerns about the impact of sanctions on the economy.

"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. "We are prepared to resist any pressure", Rouhani said.

At Washington's urging, SWIFT, the global messaging network that connects the world's financial institutions, said it is suspending its service for some unspecified Iranian financial institutions.

He said: "I think what motivates him is that this agreement was signed by President Obama and, therefore, it's bad".

But they were opposed by other signatories to the 2015 nuclear deal - Britain, France, Russia, China, Germany and the EU.

Iranian leaders called the sanctions "illegal" and said they would only hurt ordinary people.

Major Japanese oil distributors have suspended Iranian oil imports since their October contracts.

Oil markets have been anticipating the sanctions for months and the world's biggest producers have been increasing output.

China denounced new United States sanctions targeting Iran's oil and financial sectors as "long-arm jurisdiction" on Monday and vowed to continue its bilateral trade with the Islamic republic.

Amid ample supply, top crude exporter Saudi Arabia has cut its December price for its Arab Light grade for Asian customers by 10 cents per barrel versus November to a premium of $1.60 a barrel to the Oman/Dubai average, state oil company Saudi Aramco said on Monday.

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