A Republican aide briefed on the issue, saying the United States was preparing to impose fresh sanctions on Iran's financial industry on Thursday, as Washington visited Tehran on Saturday, a week before the crucial US presidential election. The pressure has increased.
The move, which would effectively shut
Iran out of the global financial sector, came after the United States said last
month that it would "snapback" or rescind virtually all UN sanctions
on Iran. Major European allies rejected beginning, this claim. Most members of
the UN Security Council, including Russia and China.
The Washington Post was the first to
report on the US plan.
Tensions between Washington and Tehran
have risen since US President Donald Trump unilaterally withdrew from the Iran
nuclear deal reached by his predecessor in 2018 and began renegotiating the
sanctions. What was relaxed under the agreement?
US sanctions have trampled on the Iranian
economy. President Hassan Rouhani had said in June that his country was going
through the most difficult year due to US economic pressures and the Coronavirus epidemic, which had severely damaged the Islamic Republic.
Iranians inside and outside the Trump
administration have been pushing for some time to target Iran's entire
financial sector.
Iran's oil exports, a key source of income
for OPEC members, hit their lowest level in decades in decades earlier this
year, but experts say Friday's move could hurt the Islamic Republic's medicine.
The ability to store goods can be’ affected.
Under US sanctions, Trump has reintroduced
everything from oil sales to shipping and financial activities, and while he is
exempt from the supply of food, medicine and other humanitarian goods, many
foreign banks are already Doing business with the Islamic Republic is
prohibited.
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