UAE minister: Iran's aggressive policies responsible for current US sanctions

UAE minister: Iran's aggressive policies responsible for current US sanctions

UAE minister: Iran's aggressive policies responsible for current US sanctions

The waivers will be valid for six months, during which time the importing country can buy Iranian oil but must deposit Iran's revenue in an escrow account.

"We were not aware of this messaging and would prefer our trademark not be misappropriated for political purposes", said HBO on Friday in response to Trump's tweet.

"There is no doubt that the United States will not achieve success with this new plot against Iran as they are retreating step by step".

Part of the explanation lies in the ambiguous position of the USA, which initially insisted that the sanctions were created to reduce Iranian exports to zero barrels, but has since has softened its position.

China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been top importers of Iran's oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.

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Mnuchin warned that SWIFT will be subject to US sanctions if it provides financial messaging services to designated Iranian financial institutions.

The announcement was made by US Secretary of State Mike Pompeo and Treasury Secretary Stephen Mnuchin.

They added, "on November 5, 2018, all United States sanctions that were lifted under the disastrous Iran nuclear deal will be fully reimposed".

As parties to the JCPOA, we have committed to work on, inter alia, the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran's export of oil and gas.

The US had insisted on cutting exports to zero but that seems unlikely as it would increase the price of oil, says Scott Lucas, a professor of global politics at Birmingham University. "The president himself is interested in having a broader, better deal with the Iranians, but I believe that most of his national security team are interested in either destabilising Iran or assuring a regime change in Tehran", Vaez said.

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Humanitarian supplies are officially exempted from sanctions, but in the past risk-averse foreign banks and companies have avoided all transactions with Iran for fear of being penalized, leading to severe shortages of life-saving medicines and food staples in the years preceding the 2015 agreement.

"Mr Trump both tries to decrease Iran's oil exports significantly and also wants prices not to go up".

The US will allow the eight nations to import Iranian oil but only at much lower levels after the reimposition of sanctions on Monday, Pompeo said.

"We have advised SWIFT that Treasury will aggressively use its authorities as necessary to continue intense economic pressure on the Iranian regime and that SWIFT would be subject to USA sanctions if it provides financial messaging services to certain designated Iranian financial institutions", Mnuchin said.

At a gathering on Saturday, Iran's supreme leader, Ayatollah Ali Khamenei, portrayed the sanctions as part of a long tradition of American hostility toward the Islamic Republic, which he said had nevertheless prevailed.

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