"Do Business With Iran Or United States": Donald Trump Warns Countries

Hannah Rogers
August 7, 2018

A second wave of sanctions that will more directly target Iran's petroleum industry is set to go into effect in 90 days.

The newly reimposed sanctions target transactions with US dollar banknotes; trade in gold and precious metals; direct or indirect sales of graphite and metals such as steel and aluminum; certain transactions related to the Iranian rial; certain transactions related to issuing Iranian sovereign debt; and Iran's automotive sector.

The stiff economic sanctions ratchet up pressure on the Islamic Republic despite statements of deep dismay from European allies, three months after Trump pulled the USA out of the global accord limiting Iran's nuclear activities.

The restrictive trade sanctions are aimed at pressuring Iran to give up it's nuclear enrichment program, end proliferation and development of ballistic and nuclear-capable missiles, and to stop funding terrorism and terrorist-sponsoring states, and other objectives outlined by Secretary of State Mike Pompeo in May and in the White House statement announcing their imposition.

Iran is accusing the USA of reneging on the nuclear agreement, signed by the Obama administration, and of causing recent Iranian economic unrest.

They have been delighted by the scattered protests that have already emerged as the Iranian economy crumbles, and will risk more in the hope of greater gains.

"They've got to behave like a normal country".

She made the announcement on the same day renewed USA trade sanctions against the Islamic Republic restarted.

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"This is an important moment for Israel, the US, the region and the entire world", Netanyahu said.

Trump's withdrawal from the agreement in May has infuriated European partners who were determined to keep it alive and now find their businesses operating in Iran faced with the threat of United States legal penalties.

Mogherini added: "We are doing our best to keep Iran in the deal, to keep Iran benefiting from the economic benefits that the agreement brings to the people of Iran because we believe that this is the security interests of not only our region but also of the world".

Asked about threats to close the Strait of Hormuz, Mr Bolton said that would be Iran's "worst mistake yet".

He dismissed a U.S. call for talks, saying "we are always in favour of diplomacy and talks..."

Israeli Prime Minister Benjamin Netanyahu, like Trump a long-time opponent of the accord, congratulated him on the new sanctions.

US trade with Iran stood at $258 million (Dh948m) in 2016, according to the US Census Bureau, while exports to Iran from the European Union, which will be affected by secondary sanctions, were worth $13 billion previous year. The last time Iran was sanctioned, it lost half of its exports, which have now returned to 2.4 million barrels per day.

He added, "To this day, Iran threatens the United States and our allies, undermines the worldwide financial system, and supports terrorism and militant proxies around the world".

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