US officially reimposes all sanctions lifted under 2015 Iran nuclear deal

The United States officially reimposed all penalties that had been lifted as part of the Iranian nuclear dea...

Posted: Nov 5, 2018 6:44 PM
Updated: Nov 5, 2018 6:44 PM

The United States officially reimposed all penalties that had been lifted as part of the Iranian nuclear deal as the Trump administration added nearly 700 targets, including 50 Iranian financial institutions, to a sanctions list Monday.

Trump administration officials said the reinstated sanctions marked an intensifying effort to strangle Iran's economy to pressure the regime to change its ways. Any company or country that does business with Tehran will feel the sting of US penalties, they said.

Banking, finance and investments

Business, economy and trade

Continents and regions

Embargoes and sanctions

Government and public administration

Government bodies and offices

International relations

International relations and national security

Iran

Iran nuclear development

Middle East

Middle East and North Africa

North America

Politics

The Americas

United States

US federal government

White House

Business and industry sectors

Commodity markets

Donald Trump

Energy and utilities

Energy commodities

Financial markets and investing

Government departments and authorities

Hassan Rouhani

Mike Pompeo

Oil and gas industry

Oil prices

Political Figures - Intl

Political Figures - US

State departments and diplomatic services

Business figures

Economy and economic indicators

Steven Mnuchin

Exports and imports

International trade

Iraq

Trade and development

The campaign, a central foreign policy goal for President Donald Trump, marks a gamble as it divides the US from traditional allies in Europe, casts uncertainty into oil markets, is likely to deepen humanitarian suffering inside Iran and, critics say, potentially undercut moderates in Tehran who might be open to working with the US.

'Laser focus'

"We are making it abundantly clear to the Iranian regime that they will face mounting financial isolation until they fundamentally change their destabilizing behavior," Treasury Secretary Steven Mnuchin said Monday in Washington, adding the regime must its stop ballistic missiles program and abandon its nuclear ambitions if wants to seek a path to sanctions relief.

The deal, one of the President Barack Obama's signature foreign policy achievements, has been vilified by Trump since his early campaign days.

"We are watching the Iranian regime with laser focus," Mnuchin told reporters. "If they try to evade our sanctions, we will take action to disrupt their activity time and time again. The maximum pressure exerted by the United States is only going to mount from here."

In a sweeping list, the Treasury Department labeled an additional 700 entities, including individuals, banks, vessels, aircraft and Iran's energy sector as part of its decision to reapply harsh sanctions that kicked in early Monday morning. The reinstated sanctions follow the Trump administration's decision in May to pull out of the international nuclear deal that is still supported by all other parties, including the EU, France, Germany, the UK, Russia and China.

The EU, UK, France and Germany said on Friday said they "deeply regret" the US move. China on Monday said it "regrets" the US decision, adding that the global community "generally opposes the practice of unilateral sanctions and long arm jurisdiction."

Secretary of State Mike Pompeo said that eight countries would get waivers that would allow them to continue importing Iranian oil: China, India, Italy, Greece, Japan, South Korea, Taiwan and Turkey.

Each of these countries "has already demonstrated significant reductions of Iranian crude," Pompeo added. He said two of those eight "have completely ended imports of Iranian crude" and the US will continue negotiations to "get the rest to zero."

These waivers were granted "to ensure a well-supplied oil market," Pompeo said.

Oil prices initially soared on fears that the Iran sanctions would knock the world's fifth-biggest producer offline. However, fears of a supply shortage have been eased by the Trump administration's temporary waivers for China and India and stronger oil output from Saudi Arabia and the United States.

US oil prices, which have also been hurt by worries about slowing global growth, have declined by about 17% since peaking on October 3.

Iranian President Hassan Rouhani vowed to continue oil exports Monday, saying Iran will "proudly break the unjust sanctions."

A State Department spokesperson confirmed that the US will also grant a waiver to Iraq to continue purchasing Iranian electricity.

"A waiver was granted to allow Iraq to continue to pay for electricity imports from Iran," the spokesperson said. "We are confident this will help Iraq limit electricity shortages in the South. We continue to discuss our Iran-related sanctions with our partners in Iraq."

In a move that will ratchet up pressure on Iran, SWIFT, the messaging service used by global banks, said it would suspend some of the country's banks. Mnuchin had said Friday that if the global service did not cut off designated institutions, it could be subject to sanctions.

"In keeping with our mission of supporting the resilience and integrity of the global financial system as a global and neutral service provider, SWIFT is suspending certain Iranian banks' access to the messaging system," SWIFT said in a statement. "This step, while regrettable, has been taken in the interest of the stability and integrity of the wider global financial system. Our mission remains to be a global neutral messaging provider."

The US announcement on Monday brings the total of Iranian-related targets sanctioned under the Trump administration to 900 in less than two years and represents a significant escalation of Washington's efforts to place economic pressure on the Iranian regime.

'Starve the regime'

The goal, Pompeo said Monday, is to "starve the regime" and force it to "abandon its current revolutionary course." That includes Iran's detention of Americans, its support for Hezbollah, Houthi rebels in Yemen, its involvement in Iraq and Syria, among other activities Pompeo said are destabilizing the Middle East.

Last week, Pompeo said the US wants "to restore democracy" in Iran. On Monday, the top US diplomat said that Iran "can either do a 180 degree turn from its outlaw course of action, or it can see its economy crumble."

"We are intent on making sure the Iranian regime stops siphoning its hard currency reserves into corrupt investments and the hands of terrorists," Mnuchin said.

The Cabinet officials' announcement deepens a growing divide with Europe.

The EU, along with the UK, France, Germany, said Friday that the pact "is a key element of the global nuclear non-proliferation architecture and of multilateral diplomacy, endorsed unanimously by the UN Security Council."

They added that the Joint Comprehensive Plan of Action, as the deal is formally known, "is working and delivering on its goal" and "is crucial for the security of Europe, the region, and the entire world."

'Bullying is backfiring'

Iran's foreign minister said Monday that the US was defying the Security Council by re-imposing sanctions, adding that the US "bullying is backfiring."

"Today, US defied UN top court & Security Council by reimposing sanctions on Iran that target ordinary people," Foreign Minister Javad Zarif wrote on Twitter.

"But US bullying is backfiring, not just because JCPOA is important, but because the world can't allow Trump & Co. to destroy global order. The US—& not Iran—is isolated."

Zarif might have been anticipating Pompeo's remarks to reporters later Monday. The top US diplomat said that the reimposed sanctions "will accelerate the rapid decline" of international trade with Iran, noting that over 100 companies have withdrawn or canceled plans to do business there.

"If a company evades our sanctions regime and secretly continues" to do business with Iran "the United States will levy severe, swift penalties on it," Pompeo said, "including potential sanctions."

"Doing business with Iran and being connected to Iran ... will ultimately be a much more painful business decision that pulling out of Iran," he promised.

Among the US targets on Monday are 92 entities owned or controlled by Ghadir Investment Company, which the US government had previously identified as an investment firm with ties to the Execution of Iman Khomeini's Order, a state-owned enterprise under direct control of Iran's Supreme Leader.

The Treasury Department also labeled 70 financial institutions with ties to Iran, including their foreign and domestic units, which have helped to funnel billions of dollars to the Islamic Revolutionary Guard Corps-Qods Force. Those firms include Bank Melli, Arian Bank, Future Bank and the Export Development Bank of Iran.

Some of the banks designated on Monday have served as "financial conduits" for the Ministry of Defense and Armed Forces Logistics and the Islamic Republic of Iran Broadcasting, according to the US government.

"This action is aimed at cutting off Iranian banks that facilitate Iran's domestic repression and foreign adventurism from the international financial system, and will highlight for the world the true nature of the regime's abuse of its domestic banking system," Sigal Mandelker, Treasury's counter-terrorism chief, said in a statement.

The Trump administration also designated more than 200 persons and vessels in Iran's shipping and energy sectors, including the Islamic Republic of Iran Shipping Lines, which is a maritime carrier, and oil transport giant National Iranian Tanker Company.

"They're the strongest sanctions we've ever imposed," said Trump en route to a rally in Georgia on Sunday evening, hours before the sanctions on Iran's energy, shipbuilding and banking sectors kicked in at midnight. "We'll see what happens with Iran," adding "they're not doing very well."

Terre Haute
Clear
55° wxIcon
Hi: 63° Lo: 39°
Feels Like: 55°
Robinson
Clear
50° wxIcon
Hi: 61° Lo: 41°
Feels Like: 50°
Indianapolis/Eagle Creek
Clear
51° wxIcon
Hi: 62° Lo: 38°
Feels Like: 51°
Paris
Clear
55° wxIcon
Hi: 62° Lo: 38°
Feels Like: 55°
Mattoon/Charleston
Partly Cloudy
53° wxIcon
Hi: 62° Lo: 42°
Feels Like: 53°
Terre Haute
Clear
55° wxIcon
Hi: 62° Lo: 38°
Feels Like: 55°
Terre Haute
Clear
55° wxIcon
Hi: 61° Lo: 38°
Feels Like: 55°
Mix of clouds and sun with afternoon showers.
WTHI Planner
WTHI Temps
WTHI Radar

Latest Video

Image

Sunday Morning Forecast Update

Image

12 points revitalization

Image

vigo county fishing event

Image

sick little girl

Image

isu bees campus

Image

cat adoption event

Image

swamp stomp

Image

Saturday Evening Forecast

Image

DNR VOLUNTEER WEEK

Image

DARWIN ROAD CLEANUP

WTHI Events

 

Illinois Coronavirus Cases

(Widget updates once daily at 7 p.m. CT)

Cases: 1299475

Reported Deaths: 23945
CountyCasesDeaths
Cook5206429819
DuPage862251249
Will71644962
Lake64454965
Kane55454753
Winnebago30947458
Madison29795514
St. Clair27122502
McHenry26929278
Peoria21093279
Champaign19731137
Sangamon17709229
McLean16818169
Tazewell15859256
Rock Island14240303
Kankakee13480196
Kendall1229490
LaSalle11739231
Macon10214190
DeKalb9262118
Vermilion9052127
Adams8189117
Williamson7203126
Whiteside6846163
Boone636571
Ogle575078
Clinton569890
Grundy560471
Coles552094
Knox5303137
Jackson484863
Henry470563
Effingham467671
Macoupin458881
Livingston458383
Stephenson451180
Marion4408115
Woodford438862
Franklin432870
Monroe431090
Jefferson4153119
Randolph409284
Lee395651
Morgan376079
Montgomery364273
Logan363456
Fulton362450
Bureau352981
Christian351172
Fayette313554
Perry312959
Iroquois290364
Jersey261549
McDonough257143
Douglas254435
Saline249653
Lawrence239125
Shelby224437
Union222940
Crawford209025
Bond197224
Cass194624
Pike176551
Jo Daviess175924
Clark175732
Warren173346
Wayne173051
Hancock172630
Richland171340
Carroll170936
Ford169646
Edgar166439
White166126
Washington162725
Moultrie156626
Clay147243
Greene142432
Piatt141514
Mason141441
Johnson139214
De Witt138423
Mercer135233
Wabash134212
Massac131039
Cumberland127919
Menard118612
Jasper114317
Marshall98617
Hamilton82315
Schuyler7015
Brown6876
Pulaski6807
Stark60723
Edwards55212
Henderson52014
Calhoun5082
Scott4671
Alexander46211
Gallatin4534
Putnam4433
Hardin36612
Pope3053
Out of IL40
Unassigned02292

Indiana Coronavirus Cases

(Widget updates once daily at 8 p.m. ET)

Cases: 707111

Reported Deaths: 13216
CountyCasesDeaths
Marion963501718
Lake51613944
Allen39106671
Hamilton34449405
St. Joseph33979539
Elkhart27255432
Vanderburgh22060394
Tippecanoe21765212
Porter17945298
Johnson17507374
Hendricks16786310
Clark12681190
Madison12338337
Vigo12204244
Monroe11443166
LaPorte11118204
Delaware10341184
Howard9652211
Kosciusko9114114
Hancock7964139
Bartholomew7880155
Warrick7681155
Floyd7555176
Wayne6895198
Grant6837171
Boone6541100
Morgan6390138
Dubois6079117
Marshall5779108
Dearborn569876
Cass5683102
Henry5572100
Noble540683
Jackson493069
Shelby478495
Lawrence4338118
Gibson427989
Harrison427670
Clinton418653
Montgomery417786
DeKalb409184
Huntington378680
Whitley377939
Miami372465
Knox365989
Steuben364457
Putnam352560
Jasper350146
Wabash347678
Adams337952
Ripley334568
Jefferson312980
White308154
Daviess289299
Wells286281
Decatur278792
Fayette277162
Greene270685
Posey268533
Scott261053
Clay253244
LaGrange252470
Randolph235280
Washington230731
Spencer227631
Jennings224747
Fountain208445
Sullivan207742
Starke203952
Owen192156
Fulton191439
Jay186029
Carroll185720
Perry180236
Orange177253
Rush170724
Vermillion166043
Franklin165635
Tipton160943
Parke144616
Blackford133831
Pike130234
Pulaski113645
Newton103534
Brown100040
Crawford97614
Benton96713
Martin82615
Warren79615
Switzerland7698
Union69910
Ohio55711
Unassigned0408