Published: Mon, August 06, 2018
Worldwide | By Lisa Hogan

White House on Monday to detail reimposition of Iran sanctions - Pompeo

White House on Monday to detail reimposition of Iran sanctions - Pompeo

The 2015 agreement curbed Iran's nuclear program in return for lifting most global sanctions. Other signatories to the 2015 deal - including European countries, China and Russian Federation - have said they will try to keep it afloat.

Trump's move to scupper the nuclear accord in May was widely condemned by co-signatories to the deal, including USA allies like Germany and France who continue to seek pathways by which they can continue pursuing trade relations with Tehran, in spite of the new sanctions.

When President Donald Trump said he'd be open to talks with his Iranian counterpart, Hassan Rouhani, Iran dismissed the idea pretty quickly.

President Donald Trump's withdrawal from the landmark agreement, signed by the US and five other world powers, remains one of the most consequential foreign policy decisions of his presidency.

Already facing broad economic fallout as their currency implodes, Iranians are wondering how the next phase of the crisis in USA relations will play out - and what, exactly, America's long-term strategy is toward their country.

Iranians are hunkering down for the return of United States sanctions on Monday with a run on gold and hard currency as they scramble to protect their savings, and sporadic protests over the already troubled economy.

The plunge in the currency and soaring inflation have sparked sporadic demonstrations against profiteering and corruption, with many protesters chanting anti-government slogans.

Pompeo has insisted Washington is not advocating for regime change in Iran, but veteran Iran-watchers say the administration's demands come pretty close.

On Aug. 7, Washington will reimpose sanctions on Iran's purchase of US dollars, its trade in gold and precious metals and its dealings with metals, coal and industrial-related software.

One hundred and eighty days later, on November 4, will see Iran barred from its ability to buy or sell petroleum products, and foreign entities will be prevented by the US from trading with its central bank.

China imports more oil from Iran than any other nation.

Unlike North Korea, with whom the Trump administration is now eager to negotiate, Iran never produced a nuclear bomb.

US Secretary of State Mike Pompeo said he supports Trump's willingness to sit down and talk with Iranian leaders.

After the official statement, the US President signed the Memorandum on the resumption of sanctions against Iran.

Protests broke out on Sunday for a sixth night in Iranian cities, including Kazeroon in the south, according to social media.

US officials last week said Iran carried out a similar exercise, though Tehran did not immediately acknowledge it.

The Iranian rial has dropped to a new record low amid growing concerns of renewed American sanctions, due to kick in on Monday.

Like this: