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Effective Monday August 6, illegal US sanctions snap back on Iran’s automotive sector, trade in gold, and other key metals.
On November 4, further illegal Trump regime sanctions will be reimposed on Tehran’s energy sector, petroleum related products, and central bank transactions.
Iran’s currency is already adversely affected, falling from 65,000 rials to the dollar in late May to 120,000 currently.
It resulted in sharply higher prices for consumer goods and fuel, aggravating the nation’s worsening financial situation.
The Trump regime wants Iran isolated politically and economically, notably aiming to reduce its oil sales to zero – unattainable objectives.
Russia and China intend maintaining normal relations with the Islamic Republic, perhaps others as well.
Beijing turned down Washington’s request to cease purchasing Iranian oil. It’s Tehran’s largest trade partner.
The Trump regime warned it will impose sanctions on nation’s continuing trade relations with Iran after November 4, especially purchases of its oil. It ruled out broad exemptions or waivers – even to allies.
According to Bloomberg, citing ship-tracking data, China accounted for 35% of Iranian exports in July.
On Saturday, Iranian Foreign Ministry spokesman Bahram Qasemi denounced Washington’s breach of its international obligations, adding Tehran expects EU countries to preserve the JCPOA.
Iran wants guarantees from Brussels to maintain normal economic, financial and trade relations with the country, not forthcoming so far.
According to Russian political analyst Sergey Mikheyev,
“Iran and (the Kremlin) have developed cooperation…in many areas, including economy and industry, and this trend of relations will still progress forward” despite Trump’s JCPOA pullout and threatened sanctions on nations continuing normal relations with the Islamic Republic.
Russian Foreign Ministry spokeswoman Maria Zakharova earlier said:
“We have never supported and will not support the policy of unilateral sanctions, as we are convinced of their illegitimacy and are determined to move forward in our multifaceted cooperation with Iran.”
The European Commission has yet to follow through with specifics on its pledge to “continue and strengthen the ongoing sectoral cooperation with, and assistance to, Iran, including in the energy sector and with regard to small and medium-sized companies.”
Unilaterally imposed sanctions by one nation against others is flagrantly illegal. Washington uses them as weapons of political, economic, financial and trade war.
Stephen Lendman is a Research Associate of the CRG, Correspondent of Global Research based in Chicago.
VISIT MY NEW WEB SITE: stephenlendman.org (Home – Stephen Lendman). Contact at [email protected].
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