Trump warns countries against doing business with Iran

07 August, 2018, 15:31 | Author: Bert Pena
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Iranians voiced anger, fear and defiance today as the U.S. reimposed sanctions and their leaders dismissed President Donald Trump's offer of talks as an act of "psychological warfare".

US President Donald Trump on Tuesday warned that any country doing business with Iran will not trade with the US as the first set of US sanctions against Iran that had been eased under the landmark nuclear accord went back into effect.

"It also forbids European Union persons from complying with those [US] sanctions unless exceptionally authorised to do so by the commission", said spokeswoman Mina Andreeva. Some of the sanctions took effect overnight, with others taking effect in November, and President Trump tweeted about them early this morning. "I am asking for WORLD PEACE, nothing less".

Iran's Foreign Minister Mohammad Javad Zarif told reporters the global reaction to Mr Trump's move showed that the U.S. was diplomatically "isolated", but acknowledged the sanctions "may cause some disruption".

The Trump administration moved to restore some United States sanctions on Iran and reaffirmed plans to impose tougher penalties on the country's oil sales in November, as President Hassan Rouhani comes under increasing economic and political pressure to address the crisis.

Trump said he was open to reaching a more comprehensive deal with Iran "that addresses the full range of the regime´s malign activities, including its ballistic missile program and its support for terrorism".

He blasted the agreement yet again Monday, calling it a "horrible, one-sided deal (that) failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb".

US Secretary of State Mike Pompeo said sanctions are an important pillar in US policy toward Iran and will remain in place until the Iranian government radically changes course.

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"We've seen company after company announce that they are getting out of Iran", the officials said.

Iran's rial currency has lost half its value since April under the threat of revived US sanctions. Iran says it will continue to abide by the deal for now, if other countries can help protect it from the economic impact of Washington's decision to pull out.

The European commission today put in place never-before-used legislation to protects the continent's firms from United States sanctions which not only target Tehran but their trading partners. "We can already see positive results from what Trump did".

But the European Commission has implemented a previously unused regulation that seeks to cancel the effect of the U.S. policy on European companies doing "legitimate business" with Iran.

"We deeply regret the re-imposition of sanctions by the U.S", the European Union said in a statement.

Many large European firms are leaving Iran for fear of U.S. penalties, and Trump warned of "severe consequences" for firms and individuals that continued to do business with Iran.

US trade with Iran stood at $258 million (Dh948m) in 2016, according to the US Census Bureau, while exports to Iran from the European Union, which will be affected by secondary sanctions, were worth $13 billion previous year.

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