Iranian Crowds Chant 'Death To Israel,' 'Down With U.S.'

04 November, 2018, 21:58 | Author: Sue Mclaughlin
  • Donald Trump posted this dramatic image on his Twitter account. Pic Donald Trump

Gas flares from an oil production platform at the Soroush oil fields in the Persian Gulf, south of the capital Tehran.

The Trump administration has worked to crush Tehran's oil exports to zero since May, when Mr. Trump withdrew the us from the multilateral deal endorsed by the Obama administration that eased global sanctions in exchange for curbs on Iran's suspect nuclear programs.

Iran is already in the grip of an economic crisis, and has seen sporadic protests in recent months as Iranian officials have tried to downplay the sanctions and their effects.

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

They said they deeply regretted the re-imposition of USA sanctions and were committed to the "preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas".

Another problem is that the product used in the SPV to trade with Iran may also violate secondary sanctions, says Leigh Hansson, head of global trade and national security at Reed Smith.

This is the second major batch of sanctions imposed by the administration of President Donald Trump since he pulled the USA from a landmark nuclear deal in May.

The Trump administration created a list of demands Iran would need to meet for sanctions to be lifted, including completely halting its nuclear and ballistic missile program and ending military engagement in Syria and Yemen.

"We always stated that such sanctions could negatively impact peace, stability and economies in neighboring countries like Turkey, and we elaborated this reality during the talks with U.S. officials", he said in comments published by states news agency Anadolu. "That's a good thing for American consumers", Pompeo said.

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The US treasury secretary, Steven Mnuchin, also announced that Swift, the private financial messaging service that allows banks to communicate securely, would also be subject to sanctions.

Iran is heavily dependent on its exports of oil, and renewed sanctions, if effective, would hit the economy hard.

The United States says it plans to issue temporary waivers to several countries, allowing them to continue purchasing Iranian oil without being subject to forthcoming USA sanctions.

"During 2012-2015, when the global community was relatively united in pressuring Iran, Iran's economy shrank by 9 percent per year, crude oil exports fell from about 2.5 million barrels per day to about 1.1 mbd, and Iran was unable to repatriate more than $120 billion in reserves held in banks overseas". "We have the knowledge and the capability to manage the country's economic affairs", Iran's Foreign Ministry spokesman, Bahram Qasemi, told state television.

"He was putting the world on notice that the terror regime which threatens Israel through Iranian funding of Hezbollah, that the terror regime that attempted to conduct an assassination in Denmark over the past few weeks, that the terror regime that continues to fund the Houthis launching missiles into Riyadh and into Dubai, that's going to stop, that behavior must change and sanctions from the United States will be reimposed at midnight tonight", he said.

"I think we'll still come to regret this decision, even if the sanctions effort bore more fruit than I and others assessed", Nephew, now with Columbia University, wrote on Twitter.

Oil prices fell on November 2 for a weekly loss of over 6 percent, as investors anxious about crude oversupply after the US waivers.

"Starting today, Iran will have zero oil revenue to spend on any of these things".

Pompeo said the exceptions were temporary and allotted to countries that had made progress toward cutting their dependence on Iranian supplies.

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