The sanctions, which will come into force on November 5, will penalize countries that do not stop importing Iranian oil and foreign companies that do business with Iranian entities.
But 8 countries will be able to continue importing Iranian oil at lower levels to avoid disrupting global oil markets when sanctions take effect on Monday, November 5.
The Secretary of State of the United States, Mike Pompeo, said that eight nations, including allied countries of the United States. Like Italy, India, Japan and South Korea, they will receive temporary exemptions that will allow them to continue importing Iranian petroleum products for a limited period as long as they complete such imports in their entirety. He said those countries had made efforts to eliminate their imports but could not complete the task before the deadline.
Turkey will be among the eight countries, according to Energy Minister Fatih Donmez.
The US Treasury will also require SWIFT to stop providing services to Iran’s banking industry as part of the application of sanctions on the country’s nuclear program and alleged support for terrorism.
Sanctions are “designed to fundamentally alter Iran’s behavior”
The sanctions will go into effect on Monday and will cover Iran’s shipping, financial and energy sectors. It is the second batch of sanctions that the government has imposed again since President Trump withdrew from the historic 2015 nuclear agreement in May.
Under the agreement, most of the international sanctions imposed on Iran over its nuclear program were lifted in 2016 in exchange for Tehran’s holding back its nuclear work.
With limited exceptions, the new sanctions will penalize countries that do not stop importing Iranian oil and foreign companies doing business with Iranian entities included in the blacklist, including the Iranian central bank, several private financial institutions and state port and maritime companies.
The reinstatement of sanctions is part of Trump’s broader effort to force Iran to halt its nuclear and missile programs, as well as its support for the forces of power in Yemen, Syria, Lebanon and other parts of the Middle East.
Pompeo said the sanctions are “aimed at fundamentally altering the behavior of the Islamic Republic of Iran.” He has published a list of 12 demands that Iran must comply with if it wants the sanctions lifted.
“Maximum pressure means maximum pressure,” he said.
Pompeo wants the Shiite clerical regime to withdraw from war-torn Syria, where it is a critical ally of President Bashar al-Assad and to end long-standing support for regional militant movements Hezbollah and Hamas.
The United States also wants Iran to stop supporting the Yemeni Houthi rebels, who are facing a US-backed air campaign led by Saudi Arabia.
“Our ultimate goal,” said Pompeo, “is to force Iran to permanently abandon its well-documented atypical activities and behave like a normal country.”
But experts do not expect Iran’s leaders to throw in the towel immediately.
“It’s basically a magical thought, the Iranians have been able to continue supporting regional representatives and allies for 40 years despite economic pressure,” said Ali Vaez of the International Crisis Group.
“Mainly psychological effects,” says Iran
Iran said it was not concerned about the re-imposition of US sanctions, which are directed not only at its vital oil and gas sector, but also at the shipping, shipbuilding and banking industries.
“The United States will not be able to take any action against our great and courageous nation … We have the knowledge and ability to handle the economic affairs of the country,” Iranian Foreign Ministry spokesman Bahram Qasemi told state television. .
“The possibility that the United States can achieve its economic objectives through these sanctions is very remote and there is certainly no chance that it will achieve its political objectives through such sanctions,” Qasemi said.
“The new sanctions of the United States will have mainly psychological effects,” the Iranians finished.
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