Menu
Latest
Menu
Latest
News

New US sanctions against Iran kick in

6 August 2018

The first part of new United States sanctions against Iran following Washington's withdrawal from the Joint Comprehensive Plan of Action (JCPOA) in May, come into effect today. The restrictions will cover the automotive sector, the purchase and sale of gold and key metals.

US State Department Director of Policy Planning Brian Hook said that the sanctions against Iran will be resumed in two stages - on August 6 and on November 4. It is expected that the first part of the restrictive measures will cover the automotive sector of Iran and the purchase and sale of gold and other key metals, and the remaining sanctions, which will be introduced by the end of autumn, will affect Iran's energy sector, oil-related deals, as well as transactions with the central Bank of Iran.

According to Hook, Washington's "goal is to increase pressure on the Iranian regime by reducing to zero its revenue on crude oil sales." Hook noted that the US authorities are working on how to minimize the destabilization of the global market. He added that Washington is confident that there are sufficient opportunities to increase oil production.

 On May 18, the European Commission passed the first package of measures on protecting the interests of EU companies investing in Iran from US sanctions, nullifying them on the EU territory. "Following the green light of EU leaders at the informal meeting in Sofia (the EU-Western Balkans summit on May 16-17) , the European Commission has today taken steps to preserve the interests of European companies investing in Iran and demonstrate the EU's commitment to the Joint Comprehensive Plan of Action (JCPOA) - the Iran nuclear deal," the EC said in a statement.

In the meantime there has been a last minute rush to deliver some orders to Iran before the sanctions kick in. On Sunday (5 August) five new ATR-72600 passenger aircrafts landed in Tehran's International Mehrabad Airport. The Iranian news agency IRNA reported that in  remarks during the receiving ceremony of the aircrafts, Iranian Transport Minister Abbas Akhoundi called delivering the ATR passenger aircrafts to Iran as the European Union's positive step towards fulfilling its obligations. Iran Air ordered a total of 20 aircrafts from ATR and the newly arrived aircrafts make the total number of the Franco-Italian company's deliveries to Iran 13, by the time. ATR has been lobbying the U.S. Treasury to allow it to take advantage of the normal wind-down period for Iran business by giving it temporary new licenses.

source: commonspace.eu with agencies

photo: An new ATR-72600 aircraft landing arrived at Tehran airport on Sunday (5 August) just before sanctions kicked in (pictuyre courtesdy of IRNA news agency Tehran)

 

 

 

Related articles

Editor's choice
News
Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged
Trending

Borrell tells the European Parliament that the situation in Afghanistan was critical, but the EU will remain engaged

9 June 2021
Borrell underlined that the European Union will make every effort to support the peace process and to remain a committed partner to the Afghan people. "Of course, we will have to take into account the evolving situation, but disengagement is not an option.  We are clear on that: there is no alternative to a negotiated political settlement, through inclusive peace talks.
Editor's choice
News
Armenia and Azerbaijan edge closer to a peace deal
Trending

Armenia and Azerbaijan edge closer to a peace deal

22 April 2024
Armenia and Azerbaijan last week announced they had agreed on the process of demarcation of their border in the Tavush region that will result in the return of four villages that had been under Armenian control since the conflict in the 1990s to Azerbaijan. The agreement is being seen as a milestone event that will greatly contribute to finalising the process leading towards the signing of a peace agreement between the two countries, who have been in conflict for more than three decades. The agreement comes after months of negotiations, and controversy, including some opposition from Armenian residents in the proximity of the four villages. On 19 April, it was announced that the eighth meeting of the Committee on Demarcation and Border Security of the State Border between the Republic of Armenia and the Republic of Azerbaijan and the State Committee on the Demarcation of the State Border between the Republic of Azerbaijan and the Republic of Armenia was held under the chairmanship of Armenian Deputy Prime Minister Mher Grigoryan and Azerbaijani Deputy Prime Minister Shahin Mustafaev. There are of course many small details that will have to be ironed out later, but the fact that the sides have agreed the basic parameters, and especially their re-affirmation that they will "be guided by Alma Ata's 1991 Declaration in the demarcation process" is a huge step forward. No wonder that the international community in the last few days have lined up to congratulate the two sides on their success and to nudge them forward to complete the process of signing a peace agreement between them. Seasoned observers now see the signing of such an agreement as being truly within reach. Of course, there will be those who for one reason or another will not like these developments and will try to spoil the process. Armenia and Azerbaijan must remain focused on overcoming any last obstacles, and on its part, the international community must also remain focused in helping them do so as a priority.

Popular

Editor's choice
News
Armenia and Azerbaijan edge closer to a peace deal
Trending

Armenia and Azerbaijan edge closer to a peace deal

22 April 2024
Armenia and Azerbaijan last week announced they had agreed on the process of demarcation of their border in the Tavush region that will result in the return of four villages that had been under Armenian control since the conflict in the 1990s to Azerbaijan. The agreement is being seen as a milestone event that will greatly contribute to finalising the process leading towards the signing of a peace agreement between the two countries, who have been in conflict for more than three decades. The agreement comes after months of negotiations, and controversy, including some opposition from Armenian residents in the proximity of the four villages. On 19 April, it was announced that the eighth meeting of the Committee on Demarcation and Border Security of the State Border between the Republic of Armenia and the Republic of Azerbaijan and the State Committee on the Demarcation of the State Border between the Republic of Azerbaijan and the Republic of Armenia was held under the chairmanship of Armenian Deputy Prime Minister Mher Grigoryan and Azerbaijani Deputy Prime Minister Shahin Mustafaev. There are of course many small details that will have to be ironed out later, but the fact that the sides have agreed the basic parameters, and especially their re-affirmation that they will "be guided by Alma Ata's 1991 Declaration in the demarcation process" is a huge step forward. No wonder that the international community in the last few days have lined up to congratulate the two sides on their success and to nudge them forward to complete the process of signing a peace agreement between them. Seasoned observers now see the signing of such an agreement as being truly within reach. Of course, there will be those who for one reason or another will not like these developments and will try to spoil the process. Armenia and Azerbaijan must remain focused on overcoming any last obstacles, and on its part, the international community must also remain focused in helping them do so as a priority.