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Iran Sanctions - Retrospect ...

Iran Sanctions

Posted by Aneela Shahzad on

Trump has doubled down sanctions on Iran by ending the waivers that allowed some countries including China and India to buy Iranian oil. US wants to drop Iranian oil exports to zero – already the sanctions have barred the Iranian metal industries, the shipping industry and that of precious metals and rial-based transactions around the world.

Meanwhile, Iran said it is committed to its obligations under the nuclear deal despite the US withdrawal from the agreement last year, and has called the re-imposition of U.S sanctions unacceptable.

Chinese Foreign Minister Wang Yi said to Javad Zarif that Beijing is vehemently opposed to Washington’s unilateral sanctions against Tehran, reassuring that his country will spare no efforts to defend Iran’s legitimate interests.

A State Department spokesman said on Friday, it has taken notice of a tanker unloading Iranian fuel oil at a Chinese port.

In May 2018, Trump withdrew from the Joint Comprehensive Plan of Action (JCPOA) negotiated by his predecessor, calling it "one-sided", "horrible" and "defective to its core".

Turkish Ambassador to Iran Derya Orssaid has said today that there are great opportunities for investment in Iran, adding that Turkish investors are undoubtedly more interested in increasing their presence in the Iranian economic market following the reduction of barriers.