- The US is once again putting into effect all sanctions against Iran that were in place before 2015, especially affecting the oil and banking sector.
- At that time, the measures were suspended because of the nuclear agreement, which was co-negotiated with the then US President Obama.
- The US government now wants to put maximum pressure on Tehran to prevent its influence on terrorist activities.
- The principle of the US government is: Who does business with Iran, can not do business with the US. Eight countries are not affected by the sanctions, it was said on Friday.
The US government will reinstate all sanctions against Iran from next Monday. In 2015, measures had been suspended because of the nuclear agreement co-negotiated with then US President Obama. Now, the Washington administration said Friday that Tehran will no longer have oil revenues available to invest in terrorist and hostile activities, US Secretary of State Mike Pompeo said. "Maximum pressure means maximum pressure," emphasized Pompeo.
The US Secretary of State stressed that the goal is to meet the government in Tehran, not the Iranian people. Therefore, humanitarian aid is not affected by the sanctions. The government of President Hassan Ruhani is already in turmoil.
A first step with measures against individual branches of industry has already been taken. Now Washington brings to the hardest hit: The oil sector and the banking sector – the two lifelines of the Iranian economy – are practically dried up. The declared goal is to reduce Iran's oil exports to zero.
Government officials in Washington admitted, however, that November 4 is unlikely to be completely over with oil exports. According to US Secretary of State Mike Pompeo, Saudi Arabia has pledged to offset at least some of the losses caused by increased production.
US Treasury Secretary Steven Mnuchin stressed that SWIFT's global payment system should be partially exempted from sanctions. However, banks should be very careful that they do not covertly bypass the sanctions for payment transactions.
Most companies bow to US pressure
The sanctions have an immediate impact on other states, apart from Iran, because the Americans also use the measures as punishments. The principle is: Anyone who does business with Iran after the sanctions have been introduced can not do business with the US. Since the US market is clearly more important than Iran's for most large companies, many bow to the dictates of politics.
For example, sanctions also affect European countries. That's why Germany, France and the UK are in a dilemma. On the one hand, they want to uphold the agreement they left with the US under any circumstances, because they believe that it works. The independent International Atomic Energy Agency (IAEA) also regularly states that Iran adheres to the regulations.
On the other hand, the Europeans acknowledge that the commitment to the nuclear deal does not automatically rule out that Iran is playing a dangerous game. For example, Israel criticizes Teheran for fueling the Middle East conflict with the financing of radical Islamic Hamas.
The US has imposed a string of sanctions on Iran in several steps, starting in 1979, when Iranian students occupied the US Embassy in Tehran and took several US citizens hostage. Those sanctions related to Iran's nuclear program were suspended in 2015 as a result of the agreement.
For Iran, this means not only economic but also political hardship – people are dissatisfied, threaten to impoverish. Countries such as India, after China's second largest buyer of Iranian oil, are highly dependent on the acquisitions.