White House Hints At Easing Of Iran Sanctions For 'Friends And Allies'
02 November, 2018, 17:38 | Author: Sue Mclaughlin
While US President Donald Trump and senior figures in Congress have pushed for harsher anti-Iranian sanctions, the State and Treasury Departments reportedly caved to pressure from European allies and Iran.
"We have sought to bypass an unwilling regime in Islamabad by establishing in June 2017 an air freight corridor between India and Afghanistan, [and] develop the Chabahar Port as a gateway for onward connectivity to and from Afghanistan and Central Asia", Mr Gokhale said.
After President Donald Trump chose to pull the United States out of the Joint Comprehensive Plan of Action (JCPOA), the multinational deal under which Iran agreed to suspend its nuclear program, his administration announced that it would reinstate economic sanctions against Iran, including those aimed at its oil exports.
The waivers are being granted for continued import cuts, so that oil prices do not shoot up, the official added.
- Financial transactions. Starting on Monday, any foreign institution that does business with Iran's central bank or other banks in the country will lose access to the USA financial system.
The US has told various countries, including India, to cut oil imports from the Persian Gulf nation to "zero" by November 6 or face sanctions.
That's symbolically important to the Trump administration because President Barack Obama's administration took three years to remove 1.2 million barrels from the market - and that was while acting in concert with the European Union and other nations before the worldwide effort yielded the 2015 deal.
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The U.S. move infuriated Iran and angered the other countries that negotiated the nuclear deal and still say it's the best chance to constrain the Islamic Republic's nuclear ambitions.
The administration has said it is considering waivers on a case-by-case basis. He has released a list of 12 demands that Iran must meet if it wants the sanctions lifted.
Earlier, Secretary of State Mike Pompeo said that the punitive Iranian sanctions would return on Monday, November 5. That's not changed. And we are determined to implement our policy of maximum pressure on Iran, and that's our strategy.
Pompeo said that he is convinced these sanctions are going to have an enormous impact on the Iranian leadership.
Despite the surge in output, concerns lingered as Washington is set to impose its sanctions against Iran's petroleum exports from next week.
"They know the President's words, which are that if you choose to do business with Iran, that is your choice, but if you do you won't do business with America as well".
He added: "In the past few months our people have faced hard times and it's possible that the next few months will be hard". The United Arab Emirates imports large amounts of Iranian fuel oil to power ships and Egypt imports oil from Iran for the Sumed pipeline. Iran used the funds to buy goods from India.
Goldman Sachs said it expects Iran's crude oil exports to fall to 1.15 million barrels per day (bpd) by the end of the year, down from around 2.5 million bpd in mid-2018.
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