88898
The US Treasury Department has revoked licenses that allowed US-controlled foreign firms to export aircraft parts to Iran and permitted Americans to trade in Iranian carpets, pistachios and caviar.
The US Treasury Department has revoked licenses that allowed US-controlled foreign firms to export aircraft parts to Iran and permitted Americans to trade in Iranian carpets, pistachios and caviar.

US Begins to Dismantle Iran Sanctions Relief

US Begins to Dismantle Iran Sanctions Relief

The Trump administration on Wednesday began dismantling the sanctions relief that was granted to Iran under the 2015 nuclear deal, a step that follows US President Donald Trump’s withdrawal from the international accord.
The US Treasury Department announced it had revoked licenses that allowed US-controlled foreign firms to export commercial aircraft parts to Iran as well as permitted Americans to trade in Iranian carpets, pistachios and caviar.
It said businesses engaged in any such transactions have to wind down those operations by Aug. 6 or face penalties under US sanctions, AP reported.
Another set of licenses covering other types of commerce, including oil purchases, will be revoked in the coming weeks, with firms given until Nov. 4 to end those activities.
The step had been expected since May when Trump pulled the US out of the landmark agreement under which Iran was given relief from sanctions in return for curbs on its nuclear program.
Trump said the accord, a signature foreign policy achievement of his predecessor, President Barack Obama, was the worst deal ever negotiated by the United States because it gave Iran too much in return for too little.
Other parties to the deal—Britain, China, Germany, France, Russia and the European Union—have criticized the US withdrawal, which has left the agreement at risk of collapse. The Trump administration is stepping up efforts to isolate Iran and its economy from international financial and trading systems.
On Tuesday, the administration said it was pushing foreign countries to cut oil imports from Iran to zero by Nov. 4. Previously, the administration had only said that countries should make a “significant reduction” in their imports of Iranian oil or be subject to separate US sanctions prohibiting all transactions between their central banks and Iran’s central bank.
A senior US State Department official said the administration is now telling European and Asian countries that the US expects their imports to hit zero by the time the grace period ends.
A US team from the State Department and the National Security Council is currently in Europe delivering the message, said the official who was not authorized to speak publicly on the matter and spoke to reporters on condition of anonymity.
The official added that the US is working with other Middle Eastern countries to increase production so the global oil supply is not harmed.

Short URL : https://goo.gl/2h5pxQ
  1. https://goo.gl/qbPQrY
  • https://goo.gl/rhV3E8
  • https://goo.gl/otcMFq
  • https://goo.gl/WrCa14

You can also read ...

Automotive Giants Hit  by Massive Data Breach
Security researcher UpGuard Cyber Risk disclosed Friday that...
Travel Currency Policy Facing Revision
Confirming rumors of an imminent change in the Central Bank of...
Mindful of the risks inherent in starting a trade war with the US, the EU will probably not be able to provide Tehran with extensive support.
If it wants to keep the nuclear deal alive, the EU will need...
Iranian Parliament Firm on Preventing FATF Blacklisting
Majlis Economic Commission, a major force in Iran's Parliament...
Secondary Forex Market Rates to Soar
The supply of currency to the Secondary Forex Market will...
Command Economy Taking Biggest Toll on Stocks
Bulls at Tehran stock market are exhausted, as bears keep...
21% Rise in Non-Oil Trade With Afghanistan
Iran traded 1.58 million tons of non-oil commodities worth $...
No Reverting to Economic Policies of 1980s
One of the wonders in this day and age, in Iran, is the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus