Trump's Iran zero oil plan hits snag

Trump's Iran zero oil plan hits snag”

The US sanctions on Iran are part of US President Donald Trump's effort to force Tehran to curb its nuclear and missile programmes.

Going after Iran´s oil money will hit Tehran where it hurts, but it also means hitting a major pillar of the global oil market - Iran is the OPEC cartel´s third-largest producer - with major consequences for world supply.

He said those countries, which other officials said would include USA allies such as Turkey, Italy, India, Japan and South Korea, had made efforts to eliminate their imports but could not complete the task by Monday.

The White House said it was "the toughest sanctions regime ever imposed on Iran" and targeted Iran's energy, shipping and banking sectors.

As a result of the latest sanctions, he said the United States expects to have reduced Iranian crude oil exports by more than 1 million barrels even before these sanctions go into effect.

Mnuchin says the USA has informed SWIFT that it would be subject to US sanctions if it provides financial transfer services to "certain designated Iranian financial institutions".

"SWIFT now must make a choice", he said: refuse to deal with Iran banks on the USA blacklist, or face sanctions itself.

The seizure of the United States embassy by radical students was a key stage in the Islamic revolution of 1979, leading to a 444-day hostage crisis that permanently damaged relations between Washington and Tehran.

On Saturday, the eve of the anniversary of the 1979 takeover of the U.S. Embassy in Tehran, Iran's Supreme Leader said the Islamic Republic is the "victorious party" after almost 40 years of confrontation by the United States.

"Mogherini and the European ministers ... highlighted the importance of the finance ministers' commitment to Europe's financial mechanism to save the Iran nuclear deal and said the mechanism will be operational in the coming days", IRNA said.

Iran's top leader said on Saturday U.S. President Donald Trump's policies face opposition across the world as Washington prepared to reimpose sanctions on Iran's vital oil-exporting and financial sectors, state television reported.

Most of them. Pompeo said Friday the administration will grant temporary waivers to eight countries that have "demonstrated significant reductions in crude oil and cooperation on many other fronts and have made important moves toward getting to zero crude oil importation".

But the United States has rebuffed them and gone ahead with its sanctions plan, arguing that nations, banks and businesses worldwide will decide they'd rather do business with the USA than Iran. Companies like Total SA and Royal Dutch Shell Plc have halted purchases because the risk of being frozen out of the USA financial system is simply too great.

"Mr Trump both tries to decrease Iran's oil exports significantly and also wants prices not to go up".

Iranian officials are betting on the unstable market conditions to beat U.S. sanctions.

Pompeo, meanwhile, expressed confidence that the United States is placing maximum pressure on Iran's government largely by targeting the energy industry.

Like this



04 Ноября 2018
Toronto may have lost out to Washington area for Amazon's HQ2
Spokesmen for Amazon declined to comment to the newspaper, as did Arlington County Board Chair Katie Cristol. Because Amazon is reportedly in "advanced talks" does not mean the deal is certain.

04 Ноября 2018
Will return of West Indies’ T20 specialists surprise Virat Kohli-less India?
Pant is expected to fulfil the wicket-keeping responsibilities while Karthik could take on one of the positions in the outfield. The highly-anticipated match will be played on November 4, Sunday, and it will start at 7 pm India time .

04 Ноября 2018
UFC 230: Daniel Cormier Submits Derrick Lewis To Remain Champion
Daniel Cormier retained the UFC Heavyweight Championship at UFC 230 and had some interesting words for the WWE Universal Champion. And he'll be keeping an eye on his waistline - the one he expects to still be wrapped with the title belt after Saturday night.

04 Ноября 2018
Australia to move Nauru asylum kids by year's end
When Morrison took office in an internal government leadership ballot in August, there were 113 asylum seeker children on Nauru.

04 Ноября 2018
Here are the firework displays taking place in Bedfordshire this week!
Many Scots would gather for more intimate fireworks displays before the larger scale town displays become more common place. Last year Brampton introduced a mandatory annual course for fireworks vendors before they can be licensed to sell.

04 Ноября 2018
Breeders' Cup Mile: Expert Eye wins under Frankie Dettori
While his absence removes some luster from this year's Breeders' Cup Classic, it remains a race packed with talent. She just runs them off their feet ...

04 Ноября 2018
Tottenham Hotspur - Premier League - 3 November 2018
I want to keep improving and I feel I'm at a great club to do that. I think he is one of the greatest managers. We all want to be a part of it.

04 Ноября 2018
Gwyneth Paltrow wedding dress revealed as she marries Brad Falchuk
They confirmed their engagement in January 2018 after it was reported in November 2017, sharing the news in an issue of Goop magazine.

03 Ноября 2018
"We all wanted to go to his funeral", says Leicester's Schmeichel
His funeral ceremony got under way on Saturday with a Buddhist bathing rite using water given by the Thai King. The UK's Air Accidents Investigation Branch (AAIB) is investigating the cause of the crash.

03 Ноября 2018
Charles and Camilla receive official welcome as their West African tour begins
The Royal visit to Ghana formed part of a week-long tour of West Africa to strengthen ties with the Commonwealth nations. The British royals landed in Accra on Friday afternoon. "It's a relationship that we value", Nana Akufo-Addo said.