Published: Sun, November 04, 2018
Business | By Eloise Houston

Pompeo: Sanctions 'Just a Part' of Iran Regime Behavior-Change Plan

Pompeo: Sanctions 'Just a Part' of Iran Regime Behavior-Change Plan

"We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure".

Such is the dominance of the U.S. in global trade, that even the announcement of the renewed sanctions has been enough to trigger a wave of worldwide companies pulling their investments out of Iran, and its crude oil exports have been falling.

President Donald Trump and his band of enablers are well aware that a so-called blue wave could come on Election Day next Tuesday, no matter how many voter suppression tactics that the GOP can manage to pull off.

The Iranian foreign minister said Washington, despite its illegal anti-Tehran sanctions, has failed to achieve its goals.

The ministerial committee official said Iraq's finance ministry had set up an account with a state-run bank where Baghdad would deposit in Iraqi dinars the amounts owed to Iran for the imports.

The EU has proposed supporting companies trading with Iran despite these new sanctions.

"On Monday, November 5, the termination of USA participation in the Iran nuclear deal will be complete".

But proponents as well as the other parties to the deal - Britain, China, France, Germany, Russia and the European Union - have vehemently defended it.

Mr Pompeo said: "Our ultimate aim is to compel Iran to permanently abandon its well-documented outlaw activities and behave as a normal country".

But for now, Iran seemed likely to try to endure the Trump administration's maximum pressure campaign, she said.

Iranian students rally outside the former U.S. embassy in Tehran, Nov. 4, 2018.

India, which is the second biggest purchaser of Iranian oil after China, is willing to restrict its monthly purchase to 1.25 million tonnes or 15 million tonnes in a year (300,000 barrels per day), down from 22.6 million tonnes (452,000 barrels per day) bought in 2017-18 financial year, sources in New Delhi said. Trump announced the U.S.'s withdrawal from what he described as "the terrible, one-sided" nuclear deal.

USA secretary of state Mike Pompeo today imposed penalties against more than 700 businesses, individuals and other entities involved in Iran's oil, banking, shipping, shipbuilding and insurance sectors.

The sanctions will remain in place until Iran meets demands that include an end to support for terrorism and to military engagement in Syria.

"Nitty gritty of this waiver will be announced eventually", said Pradhan.

Quoting a senior US administration official, Bloomberg News reported that the eight parties include Japan, India and South Korea.

The new measures are expected to hit Iranians hard, CBS News' Elizabeth Palmer reported. China, the leading importer of Iranian oil, is still in discussions with the US on terms, the report said.

Most of them. Pompeo said Friday the administration will grant temporary waivers to eight countries that have "demonstrated significant reductions in crude oil and cooperation on many other fronts and have made important moves toward getting to zero crude oil importation". Understanding the geopolitical situation, India has been able to get its way.

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