Pompeo Pushes Back Against GOPers Who Want Harsher Iran Sanctions
Pompeo Pushes Back Against GOPers Who Want Harsher Iran Sanctions
'Death to America': Iranians take to the streets on the eve of US sanctions
05 November, 2018, 16:59
USA sanctions lifted as part of the 2015 nuclear accord with Iran snapped back at midnight NY time as President Donald Trump fulfills his vow to ramp up pressure on the Islamic Republic over its "malign" behaviour in the Middle East, its ballistic missile tests and its nuclear program.
Pompeo noted that oil sanctions would be coupled with financial sanctions involving "over 600 designations of individuals and companies in Iran".
Another signatory to the nuclear deal, China, has said it regrets the the re-imposition of sanctions and that its lawful trade with Iran should be respected. They are the strongest sanctions we've ever imposed.
The new wave of sanctions, the second since August, will target Iran's energy, shipbuilding, shipping, and financial sectors.
Senior Iranian officials have dismissed concerns about the impact to its economy.
Iranian President Hassan Rouhani vowed on Monday to defy United States sanctions on the country's petroleum sector, even as the conservative Guardian Council went further - rejecting a bill meant to relieve USA pressure.
"America wanted to cut to zero Iran's oil sales ... but we will continue to sell our oil ... to break sanctions", he said.
"This is an economic war against Iran but".
Among the targets are 92 entities owned or controlled by Ghadir Investment Company, which the USA government had previously identified as an investment firm with ties to the Execution of Iman Khomeini's Order, a state-owned enterprise under direct control of Iran's Supreme Leader. We've got Brent crude at about the same price it was back in May when the president announced the withdrawal from the JCPOA.
The reprieve from sanctions will come as a booster for the government as it is expected to help ease the pressure on crude prices.
"But US bullying is backfiring".
It was in May, that Trump had announced that the United States had withdrawn from what he described as "the terrible, one-sided" Iran nuclear deal.
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The new American sanctions particularly hurt Iran's vital oil industry, a crucial source of hard currency for its anemic economy. Iran's military has said that it would hold air defence drills on Monday and Tuesday to prove the country's capabilities.
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Before travelling to a campaign rally for the U.S. mid-term elections, President Donald Trump said Iran was already struggling under his administration's policies. The other parties to the deal - Britain, France, Germany, China and Russian Federation - say they will not leave.
Details of the sanctions will be released at a news conference scheduled for 8:30 a.m. EST (1330 GMT) with Secretary of State Mike Pompeo and Treasury Secretary Steven Mnuchin.
"India said to the United States that they can't stop before March, they are facing a major currency crisis", explained Joel Hancock, analyst at Natixis.
This framework has also been approved by the U.S. for the 8 countries that would enjoy its waiver to keep the global oil markets calm.
Trump said the deal was weak and favoured Iran. As long as Iran met its obligations under the deal, Britain would be committed to it too.
Secretary of State Mike Pompeo on Sunday issued a thinly veiled warning to Russian Federation and China putting both countries on notice that it will suffer the consequences if they continue to purchase Iranian oil after US economic sanctions on such exports snap back this week.
Iran's national currency, the rial, now trades at 145,000 to one US dollar - down from 40,500 to $1 a year ago.
The United States said on Friday it will temporarily allow eight importers to keep buying Iranian oil.
To continue exporting crude oil, Iranian tankers in recent weeks have been turning off their transponders to avoid detection.
Rohani also vowed that Iran will "proudly bypass" USA sanctions to sell oil.
The curbs come as the United States is focused on USA congressional and gubernatorial elections on Tuesday. "Right now they just want to survive".
Sergio Aguero doubled their lead six minutes later before David Silva made it three with yet another six minute interval. Sterling bagged his second of the game on 67 minutes to cap a fine individual display from the England attacker.
A second poll, by NBC and The Wall Street Journal, also showed Democrats holding the same seven-point advantage over Republicans. But a healthy economy tends to favour the incumbent - and the USA economy has been growing with rare vigour.
India will have to keep a keen watch on the developments and ensure that the island does not take a Chinese turn. Last week, Wickremesinghe met several foreign journalists who had arrived in Sri Lanka to report on the crisis.
Turkey pressed Saudi authorities on Thursday to tell them the whereabouts of Khashoggi's body, which has not been recovered. Once inside, he was immediately strangled and then dismembered, according to the Istanbul Prosecutor's office.
He is now listed as questionable for the Patriots' upcoming game against the Green Bay Packers on Sunday with an ankle injury. Both teams are coming in with excellent quarterback and offensive play, along with defenses that could use some improvement.
The company said no government agency in ongoing investigations has concluded that any wrongdoing occurred. Musk's tweet on August 7, stating that he was taking Tesla private, had got him into trouble with the SEC.
The index fell to 51.1, where above 50 indicates growth, suggesting that activity in the sector slowed significantly last month. Steel tariffs and higher transportation costs were blamed by manufacturers for an increase in their costs, IHS Markit said.
Reigning champions Manchester City play Fulham on Thursday and the victor will face either Leicester or Southampton . The fixture has a history of high scores with the last nine Premier League matches bringing 42 goals .
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