EU regrets USA sanctions on Iran, vows to protect European businesses

by Ben Pena August 7, 2018, 0:46
EU regrets USA sanctions on Iran, vows to protect European businesses

The fall of prices for the rial has been heavy related to the surge in the price of gold, as economic uncertainty has many Iranians running to precious metals, and gold imports surged in recent weeks. "The United States is going to enforce these sanctions".

Mr Trump said in a statement: "We urge all nations to take such steps to make clear that the Iranian regime faces a choice: either change its threatening, destabilising behavior and reintegrate with the global economy, or continue down a path of economic isolation".

The EU said it would now swiftly bring in legal cover for firms in the 28-nation bloc to work with Iran, after the Trump administration rejected European calls for an exemption.

In November, the USA will follow up with another round of sanctions targeting Iran's lifeblood: its oil exports.

Rouhani maintained that Iran can rely on China and Russian Federation to help its oil and banking sectors as the U.S. ramps up sanctions in the coming months.

Perhaps Trump thinks he can force some concessions by Iran in the next 90 days. "We'll find out whether they are or not", he said.

The officials who spoke to Reuters said the campaign, consisting of speeches and online material paints Iranian leaders in a harsh light, at times using information that is exaggerated or contradicts other official pronouncements, including comments by previous administrations.

That accord - negotiated also with the U.K., France, German, Russia and China - suspended USA sanctions in return for limits and regular inspections on Iran's nuclear programs, while allowing the country to continue enriching uranium for peaceful energy purposes.

Iran's rial currency has lost half its value since April under the threat of revived US sanctions.

Iran's economy has rapidly deteriorated in recent months partially due to fears over the imposition of further US sanctions, igniting street protests in many Iranian cities over economic hardships.

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The measures appeared to calm the markets on Monday, with the rial strengthening to 95,500 to the dollar - a 20 percent improvement on its record-low of 119,000 a fortnight ago.

Referring to former Secretary of State Rex Tillerson, Rouhani said, "Mr. Tillerson held a conversation with our Foreign Minister and so the ones that turned their back on dialogue and negotiations was Mr. Trump and Mr. Trump's administration".

"Today, the United States is taking action to reimpose nuclear-related sanctions with respect to Iran that were lifted in connection with the Joint Comprehensive Plan of Action of July 14, 2015 (the "JCPOA")".

"The JCPOA is working and delivering on its goal, namely to ensure that the Iranian program remains exclusively peaceful", the statement went on.

The ministers said the Iran deal is "crucial for the security of Europe, the region and the entire world".

The European Union issued a "blocking statute" Monday to protect European businesses from the impact of sanctions set to return Monday at midnight.

EU foreign policy chief Federica Mogherini addresses a joint press conference before chairing a regular session of the International Donor Group for Palestine (Ad Hoc Liaison Committee (AHLC)) at the European Commission in Brussels on March 20, 2017.

A senior USA administration official said a move by Brussels, with the support of Britain, to impose a "blocking statute" protecting European businesses trading with Iran was "not something that we're particularly concerned by".

Some US sanctions on Iran are expected to be reimposed later on Monday.

United States officials said the drills appeared created to send a message to Washington, which is intensifying its economic and diplomatic pressure on Tehran after withdrawing from a landmark nuclear deal in May.

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