Roughly six months after President Trump declared his intentions to reimpose sanctions on Iran over vague allegations that the Iranians hadn't fulfilled their obligations under the JCPOA, the US formally reimposed sanctions on Iran at midnight.
The sanctions will impact more than 700 "Individuals, entities, vessels and aircraft", according to the White House.
Treasury Secretary Steven Mnuchin has said the US is "Intent on ensuring that global funds stop flowing to the coffers of the Iranian regime," while the White House has said it's "Open" to renegotiating a deal.
The administration has opted to allow Iran to remain connected to US-dominated international payments network SWIFT - for now, at least.
Secretary of State Michael Pompeo is scheduled to announce the list of eight countries that will get temporary waivers to keep importing Iranian oil at 8:30 a.m. Washington time on Monday.
Though while some have characterized the Trump administration's decision to grant these waivers as a capitulation, for now at least, Trump is having his cake while eating it, too.
Though Iran has pledged to ignore the sanctions, their impact is already apparent: Iranian crude exports peaked at 2.8 million barrels per day in April, including 300,000 barrels per day of condensate, but have fallen to 1.8 million barrels per day since then.
https://www.zerohedge.com/news/2018-11-05/us-reinstates-sanctions-iran-grants-8-oil-import-waivers
While several European countries that applied for a waiver didn't receive one, Italy and Greece did receive waivers.
Pompeo noted that "European businesses have already made their decision and they're deciding not to do business with Iran.".
Here's more on the sanctions from BBG:. U.S. is sanctioning more than 700 "Individuals, entities, aircraft, and vessels" in Iran as the Trump administration fulfills its pledge to ramp up pressure on the Islamic Republic over its "Malign" behavior in the Middle East.".
Action is a critical part of the re-imposition of the remaining U.S. nuclear-related sanctions that were lifted or waived" as part of the 2015 nuclear accord, Treasury Dept says in emailed statement.
Sanctions include designation of 50 Iranian banks; identification of more than 400 targets, including over 200 persons and vessels in Iran's shipping and energy sectors, and an Iranian airline and more than 65 of its aircraft.
In what some have characterized as a capitulation by the Trump Administration, Secretary of State Mike Pompeo is expected to announce the 8 countries that have received 'waivers' from US sanctions on Iranian oil exports during a Monday morning press conference.
https://www.zerohedge.com/news/2018-11-05/watch-live-pompeo-announces-iran-sanctions-waivers
The sanctions will impact more than 700 "Individuals, entities, vessels and aircraft", according to the White House.
Treasury Secretary Steven Mnuchin has said the US is "Intent on ensuring that global funds stop flowing to the coffers of the Iranian regime," while the White House has said it's "Open" to renegotiating a deal.
The administration has opted to allow Iran to remain connected to US-dominated international payments network SWIFT - for now, at least.
Secretary of State Michael Pompeo is scheduled to announce the list of eight countries that will get temporary waivers to keep importing Iranian oil at 8:30 a.m. Washington time on Monday.
Though while some have characterized the Trump administration's decision to grant these waivers as a capitulation, for now at least, Trump is having his cake while eating it, too.
Though Iran has pledged to ignore the sanctions, their impact is already apparent: Iranian crude exports peaked at 2.8 million barrels per day in April, including 300,000 barrels per day of condensate, but have fallen to 1.8 million barrels per day since then.
https://www.zerohedge.com/news/2018-11-05/us-reinstates-sanctions-iran-grants-8-oil-import-waivers
Watch Live: Pompeo Announces Iran Sanctions 'Waivers'
Update: The following countries will receive 'temporary' waivers excusing them from US sanctions on Iranian oil exports.While several European countries that applied for a waiver didn't receive one, Italy and Greece did receive waivers.
Pompeo noted that "European businesses have already made their decision and they're deciding not to do business with Iran.".
Here's more on the sanctions from BBG:. U.S. is sanctioning more than 700 "Individuals, entities, aircraft, and vessels" in Iran as the Trump administration fulfills its pledge to ramp up pressure on the Islamic Republic over its "Malign" behavior in the Middle East.".
Action is a critical part of the re-imposition of the remaining U.S. nuclear-related sanctions that were lifted or waived" as part of the 2015 nuclear accord, Treasury Dept says in emailed statement.
Sanctions include designation of 50 Iranian banks; identification of more than 400 targets, including over 200 persons and vessels in Iran's shipping and energy sectors, and an Iranian airline and more than 65 of its aircraft.
In what some have characterized as a capitulation by the Trump Administration, Secretary of State Mike Pompeo is expected to announce the 8 countries that have received 'waivers' from US sanctions on Iranian oil exports during a Monday morning press conference.
https://www.zerohedge.com/news/2018-11-05/watch-live-pompeo-announces-iran-sanctions-waivers
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