US reimposes sanctions on Iran — Netanyahu: An important moment for Israel, the US, the ME and the world
President Donald Trump has re-imposed sanctions on Iran, with the White House warning of worse to come as the Middle Eastern nation slammed “American bullying”.
President Trump on Monday signed the executive order intended to impose “maximum economic pressure” on Iran, after he announced the United States’ withdrawal from the nuclear deal in May.
The 2015 accord, negotiated by Barack Obama alongside Germany, France, the United Kingdom, Russia and China, gave Tehran billions in sanctions relief in exchange for curbs on its nuclear program.
The reimposition of sanctions by the US will take effect at 12.01am on Tuesday, severely denting Iran’s trade in precious metals and the automotive sector.
The sanctions will remain in place unless Tehran ends its support for terror groups in the Middle East and ends its enrichment of uranium, according to US officials.
“The president has been very clear: none of this needs to happen,” a senior administration official told reporters. “He will meet with Iranian leadership at anytime to discuss a real, comprehensive deal that will contain their regional ambitions, will end their malign behaviour and deny them any paths to a nuclear weapon.”
Harsher sanction will follow on November 5, when the US will try to cut off Iran’s oil exports and block shipping.
But China, India and Turkey have indicated they are not willing to entirely cut their Iranian energy purchases.
Iran said earlier on Monday the US was “isolated” in its hostility. While it may lose some business from Europe, it is likely to continue the lucrative business of exporting oil to China.
“American bullying and political pressures may cause some disruption, but the fact is that in the current world, America is isolated,” foreign minister Mohammad Javad Zarif told reporters, according to the semi-official ISNA news agency.
The EU, Britain, France and Germany said in a statement: “We deeply regret the reimposition of sanctions by the US.
“We are determined to protect European economic operators engaged in legitimate business with Iran.”
Iran’s currency has lost around half its value since Trump’s announcement, with investors fearing US penalties.
It has added to tensions in Iran, which has seen days of protests and strikes in multiple towns and cities against the religious despotism and the country’s economic crumbling due to the corruption of the mullahs’ regime.
Prime Minister Benjamin Netanyahu congratulated on Monday US President Donald Trump on “the important decision to re-impose sanctions on Iran.”
“This is an important moment for Israel, the United States, the region and the entire world. I call on the European countries, which talk about stopping Iran, to join forces,” Netanyahu said in a video message on his official YouTube channel.
Defence minister Avigdor Liberman described the renewed sanctions as “a courageous decision which will be remembered for generations.”