Rush to fill orders ahead of new U.S. sanctions

Hannah Rogers
August 6, 2018

The 2015 agreement curbed Iran's nuclear program in return for lifting most global sanctions.

The unrest began last Tuesday, almost a week before US President Donald Trump implements the first round of renewed sanctions on Iran on August 6.

When President Donald Trump said he'd be open to talks with his Iranian counterpart, Hassan Rouhani, Iran dismissed the idea pretty quickly.

The White House on Monday is scheduled to announce the reimposition of tough economic sanctions on Iran, the first batch of sanctions to be revived since President Trump broke with the landmark Iran nuclear deal.

Instead, Iran hopes to improve relations with Europe, who it hopes will courageous United States sanctions to continue to buy its oil. "They have got to behave like a normal country", he said, describing Iranian leaders as "bad actors".

CBS reported that Iranians have held protests across the country ahead of the new sanctions and as the nation's currency plummets, blaming Iran's leaders for the economic situation.

Ironically, Iran's government may regret cracking down on black market operators that facilitated oil sales during the last sanctions regime, such as billionaire Babak Zanjani who was sentenced to death for corruption in 2016.

Iran's rial currency has been in free-fall in recent weeks and its economy has taken a nose-dive with sanctions set to kick back in starting Monday.

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Iran's oil exports could fall by as much as two-thirds by the end of the year because of the US sanctions, putting oil markets under strain amid supply outages elsewhere in the world.

Sanctions and diplomatic pressure could pile enough pressure on the regime that it comes to the negotiating table - something Trump has advocated for.

Iran's oil exports could fall by as much as two-thirds by the end of the year because of the US sanctions, putting oil markets under huge strain amid supply outages elsewhere in the world.

Starting this week, Washington will re-impose sanctions on Iran's purchases of US dollars, its trade in gold and precious metals, and its dealings with metals, coal and industrial-related software. In August and November Iran faces two new waves of sanctions that will shut off their access to USA banking and oil exports.

Iran's economy was plunged into a downward spiral following Trump's announcement that the United States was scrapping the nuclear deal.

The president also issued an all-caps threat to Iranian President Hassan Rouhani last month, warning him not to threaten the USA or "YOU WILL SUFFER CONSEQUENCES THE LIKES OF WHICH FEW THROUGHOUT HISTORY HAVE EVER SUFFERED BEFORE".

On Saturday, a man taking part in a protest in Karaj in the northern province of Alborz was fatally shot, according to the semi-official Fars news agency.

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