Trump Administration Begins Dismantling Iran Sanctions Relief

  • 6/27/2018
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The US administration began on Wednesday to dismantle the sanctions relief that was granted to Iran according to the 2015 nuclear deal. Wednesday’s move followed US President Donald Trump’s withdrawal from the pact in May and in re-imposition of sanctions. The Treasury Department announced it had revoked licenses that allowed US-controlled foreign firms to export commercial aircraft parts to Iran as well as permitted Americans to trade in Iranian carpets, pistachios and caviar. It said businesses engaged in any such transactions have to wind down those operations by August 6 or face penalties under US sanctions. Another set of licenses covering other types of commerce, including oil purchases, will be revoked in coming weeks, with firms given until November 4 to end those activities. The step had been expected since May when Trump pulled the US out of the landmark agreement under which Iran was given relief from sanctions in return for curbs on its nuclear program. Trump said the accord, a signature foreign policy achievement of his predecessor, President Barack Obama, was the worst deal ever negotiated by the United States because it gave Iran too much in return for too little. Trump also complained that the agreement did not cover Irans non-nuclear malign behavior. Other parties to the deal — Britain, China, Germany, France, Russia and the European Union — have criticized the US withdrawal, which has left the agreement at risk of collapse. The Trump administration has meanwhile been stepping up efforts to isolate Iran and its faltering economy from international financial and trading systems. On Tuesday, the administration said it was pushing foreign countries to cut their oil imports from Iran to zero by November 4. Previously, the administration had said only that countries should make a "significant reduction" in their imports of Iranian oil or be subject to separate US sanctions prohibiting all transactions between their central banks and Irans central bank. A senior State Department official said the administration is now telling European and Asian countries that the US expects their imports to hit zero by the time the grace period ends. Wednesday’s decision will likely be felt in Iran where rallies broke out in the capital Tehran on Sunday and earlier this week over the country’s deteriorating economy and collapse in the local currency. Nearly two-thirds of Irans MPs have written to President Hassan Rouhani demanding he change his economic team to deal with the countrys worsening financial woes, state media said Wednesday. "The poor performance of senior officials in charge of the economy over the past few years has led to the populations increased distrust," wrote 187 of the Iranian parliaments 290 lawmakers, in a letter published by IRNA news agency. In their letter, the members of parliament urged Rouhani to act "as a matter of urgency", calling on the president to make changes "in the management of the economic team". The overhaul must bring "dynamism" and an "understanding" of the economic situation, they wrote, before parliament "takes a decision on the matter". The governments economic team is made up of vice-presidents and ministers, as well as Rouhanis economic advisers and the central bank president. The situation has worsened since the US pullout from the nuclear deal. Iranians have also been hit by rising prices, while record levels of unemployment have left a third of under 30-year-olds out of work

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