Once-eased USA economic sanctions against Iran back in effect

US President Donald Trump signed an executive order on Monday restricting purchases of dollar banknotes by Iran

Trump warned that those who don't wind down their economic ties to Iran "risk severe consequences". "I am asking for WORLD PEACE, nothing less", he added.

The United States reimposed stiff economic sanctions on Iran on Monday, renewing pressure on the Islamic Republic despite statements of doubt from European allies, three months after President Donald Trump pulled the USA out of the global accord originally brokered by Barack Obama.

"If there is sincerity, Iran has always welcomed dialogue and negotiations", Rouhani said, according to CNN.

The European Investment Bank (EIB) would risk its business model if it invested in Iran, because of the sanctions the USA reinstated after its withdrawal from the nuclear deal, the president of the EIB told the press on Wednesday (18 July). The US wasn't trading with Iran in the first place, so Iran isn't actually losing anything on that front.

In a speech hours before the sanctions were due to take effect, Iran's President Hassan Rouhani rejected negotiations as long as Washington was no longer complying with the deal.

Earlier in the day he assailed Iran as "a murderous dictatorship that has continued to spread bloodshed, violence and chaos".

Iran says it will continue to abide by the deal for now, if other countries can help protect it from the economic impact of Washington's decision to pull out.

The Iran sanctions have officially been cast. But, he said, the reimposed sanctions would endanger "ordinary Iranians".




The Trump administration moved to restore some U.S. sanctions on Iran and reaffirmed plans to impose tougher penalties on the country's oil sales in November, as President Hassan Rouhani comes under increasing economic and political pressure to address the crisis. European allies said they "deeply regret" the USA action. They presage tougher sanctions against imports of Iranian oil that will go into force in early November, although the administration signaled it will consider partial exemptions to that ban. A total of $100bn in frozen Iranian assets was also released.

The Blocking Statute was introduced in 1996 in response to USA extra-territorial sanctions against companies operating in Cuba, Iran and Libya.

The US was an original signatory to the agreement with Iran, along with Britain, France, Germany, Russia, China and the EU.

Mr Trump said the new measures were the "most biting sanctions ever imposed".

At the time, under then-president Barack Obama, Washington had pledged to waive secondary USA sanctions as long as Iran continued to abide by the agreement.

We are doing our best to keep Iran in the deal, to keep Iran benefiting from the economic benefits that the agreement brings to the people of Iran because we believe this is in the security interests of not only our region, but also of the world.

DONALD Trump has slapped Iran with sanctions three years after Barack Obama lifted them. Energy dependent Japan and Germany both are reluctant to cut business relations with Iran.

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