Iran promises to "break" sanctions as US reimposes oil ban


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Iran's leaders railed against Washington on Monday when the Trump government lifted economic sanctions to their limits, saying the latest punitive measures called for measures to put pressure on the United States in return.

The acrimony denounced a sharp rise in tensions between Washington and Tehran when the Trump government banned the import of oil imported from Iran and included more than 700 Iranian banks, companies and individuals under the influence of 39; a sanction during the last phase of a pressure campaign.

Iranian President Hassan Rouhani went on national television to denounce the action and demand unspecified countermeasures.

"Unjust sanctions go against the law, US resolutions and international agreements. We will proudly break the sanctions, "said Rouhani.

"It will not be done only by words," he added. "To act is to put pressure on the United States so that they do not dare to continue with their intrigues."

By intensifying its sanctions, the United States has also taken a series of measures to lessen their impact on countries around the world that have reopened their doors to trade with Iran since the entry into force of the law. 39, 2015 nuclear agreement with Iran. President Trump withdrew from this deal in May, saying that it was insufficient and instituted new sanctions to force Iran to sign a new, more ambitious agreement, which Iran has rejected.

The administration temporarily exempted eight governments from US sanctions on Iranian oil purchases.

China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey have received waivers allowing them to continue their temporary imports of Iranian crude without incurring penalties, a said US Secretary of State Mike Pompeo.

The waivers allow these governments to continue purchasing Iranian oil for 180 days, with the possibility of further extension if governments demonstrate the steps to be taken to eventually stop these purchases.

The Trump administration also granted Iraq a shorter waiver to allow it to continue buying electricity from Iran. The administration will also allow Iraq to purchase Iranian natural gas as long as the proceeds of the gas go for humanitarian purposes.

As the United States reimposed economic sanctions on its country, Iranian President Hassan Rouhani said Iran would circumvent these measures and "make America regret" to restore them. Photo: AP

In addition, the United States has decided to allow the temporary continuation of international non-proliferation efforts at three Iranian nuclear sites – Arak, Bushehr and Fordow – on a temporary basis, to ensure surveillance and security of operations.

Treasury Secretary Steven Mnuchin said the new sanctions show the Iranian regime "will face growing financial isolation [it fundamentally changes its] destabilizing behavior. "

Iran's Foreign Minister Javad Zarif has compared the renewed US sanctions against intimidation, but said the decision was against him because five other parties to the 2015 Iran nuclear deal were still in the contract after Trump's withdrawal in May. "The United States – and not Iran – are isolated," he wrote on Twitter.

Mr. Zarif also mocked the US action by writing on Twitter that the sanctions targets include a closed bank six years ago and a ship that sank last year.

Iran's international sales fell by a third in the run-up to the second round of sanctions against its economy.

Nevertheless, the administration officials want to reduce Tehran's exports to zero, threatening to punish anyone caught in violation of its crude embargo.

Countries that import Iranian crude and have no US renunciation risk US sanctions prohibiting Americans from doing business with their companies and cutting off access to the US financial system.

The recipients of the waivers welcomed the US decision to excuse them for the time being.

Ruhsar Pekcan, Turkish Minister of Commerce, said the waiver granted by the United States "was an important and positive step," but pointed out that Iran was a primary supplier of oil and natural gas and suggested in Washington to remedy other friction between the two countries, including US tariffs steel imports.

The Turkish authorities also said they hoped the administration would take steps to solve a long-standing case in the United States involving a state-owned Turkish lender.

Halkbank
,

that US authorities suspect of helping Iran escape a previous round of sanctions. Halkbank officials denied the allegations.

The extension granted to Greece would allow the largest refinery in the country,

Hellenic oil
,

to repay debts to Iranian companies, said Greek officials.

Hellenic Petroleum agreed to buy oil at the National Iranian Oil Co. in 2016, marking the first sale of Iranian crude to a European country since sanctions were lifted.

This settlement was part of an agreement that allowed the company to repay at least 500 million euros ($ 569 million) in debts owed to Iranian companies before imposing sanctions on the part of the European Union.

The waiver granted by South Korea will allow Seoul "to continue its imports of Iranian crude oil and thus ensure a stable supply of condensate," the government said, adding that it would also continue to export to Iran articles not punishable.

The South Korean waiver was settled during a phone call on October 29 between Pompeo and South Korean Foreign Minister Kang Kyung-wha, the South Korean government said.

In Italy, a government official said the government had obtained a temporary waiver giving Italian companies time to put an end to their contracts with Iran.

Officials from the Chinese and Indian embassies did not respond to a request for comment. US representatives from Taiwan declined to comment. Japan said that it has not yet commented.

The Trump administration, under threat of sanctions, also took action on Monday to force the global financial messaging service Swift, which facilitates cross-border transactions for financial institutions, to dissociate some Iranian banks from its service.

Swift said he was suspending access to Iranian banks.

"This step, while regretted

has been taken in the interest of the stability and integrity of the global financial system in a broad sense, "he said.

Under US law, Swift only requires the elimination of some of Iran's 70 Treasury black banks and financial institutions, which are accused of links to weapons of mass destruction, terrorist groups and human rights violations. human rights.

In addition to contributing to Tehran's political and financial isolation, Swift's decision will also increase Iran's commercial and financial costs and make international transactions much more difficult.

Iraq has been a difficult case for the Trump administration. The United States is arguing with Iran for influence over the country and is eager to support the new Iraqi Prime Minister, Adel Abdul Mahdi, and his new president, Barham Salih.

However, some Iraqi cities near the Iranian border get their electricity directly from their neighbors. Iraq also imports a significant amount of Iranian natural gas to produce electricity.

Iraq will only benefit from a 45-day dispensation to import Iranian electricity, US officials said. US authorities expect Iraq to use this time to become energy independent, including pursuing projects to capture burned natural gas and resuming oil exports from fields near Kirkuk. , according to the US authorities, could reach 200,000 barrels a day. The United States also wants Iraq to take steps to reduce Iran's influence in the country.

The US authorities have not said whether Iraq will have more time after 45 days if it responds to these requests, but Iraq expects an extension.

Iraq can continue to import natural gas. But Iraqi payments must be sent to an escrow account in Baghdad and used to buy humanitarian and civilian goods.

Iraq is discussing contracts with several US companies to increase its energy independence, which seems to have been a factor in the Trump administration's deliberations.

Write to Asa Fitch at [email protected] and Ian Talley at [email protected]

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