Published: Tue, August 07, 2018
Worldwide | By Lisa Hogan

Donald Trump warns countries against doing business with Iran

Donald Trump warns countries against doing business with Iran

President Trump withdrew the U.S. from the Iran nuclear deal earlier this year, and began reimposing sanctions on Iran Monday.

So-called snapback sanctions, due to come into force early on Tuesday, target Iranian purchases of USA dollars, metals trading, coal, industrial software and its auto sector.

The United States also plans to re-introduce potentially more damaging sanctions on Iranian oil in November.

John Glaser, director of foreign policy studies at the Cato Institute, noted that the USA sees the sanctions "as a tool to pressure Iran to come back to the negotiating table to rehash the nuclear deal on terms more to Trump's liking".

Iran has accused the USA of reneging on the nuclear agreement, signed by the Obama administration, and of causing the country's recent economic unrest.

The European Union's diplomatic chief, Federica Mogherini, said the union, as well as Britain, France and Germany, deeply regretted the USA move. Behnam Ben Taleblu of the Foundation for Defence of Democracies said they "signal that the administration is serious in its intent to recreate the leverage that existed between the USA and Iran prior to the nuclear deal".

The EU has taken the unprecedented step in a bid to salvage the nuclear deal struck with Iran in 2015.

"I am asking for WORLD PEACE, nothing less!"

The renewed sanctions will squeeze Iran economically, nearly immediately.

Looming US sanctions against Iran will likely hit Tehran's oil sales overseas, and it could lead to a price spike in oil contracts.

"We are always in favour of diplomacy and talks".

Iranian President Hassan Rouhani reportedly said during an interview on state television just before the sanctions were reimposed that he would welcome talks with the US without preconditions.

"Anyone doing business with Iran will NOT be doing business with the United States", Trump vowed on Twitter.

"They've got to behave like a normal country".

The US today reimposed extraterritorial sanctions on Iran, meaning that foreign companies that do not comply with them could be fined or face being cut-off from the US market.

He said: "If you stab someone with a knife and then you say you want talks, then the first thing you have to do is remove the knife".

Iran's currency has lost around half its value since Trump announced the U.S. would withdraw from the nuclear pact.

"No Iranian politician can risk negotiating with the president who trashed the outcome of 12 years of negotiations over the nuclear issue and can't come to any lasting agreement with his own party and US's traditional allies", he said.

"If Iran were really serious they'd come to the table".

There have been rumours that Trump and Rouhani could meet in NY in September on the sidelines of the UN General Assembly - though Rouhani reportedly rejected United States overtures for a meeting at last year's event.

US President Donald Trump has warned other countries against doing business with Tehran, saying he had imposed "the most biting" sanctions on the country.

Like this: