LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » World News

U.S. revives sanctions to further damage Iran's economy

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Mon, Aug 06, 2018
09:45 pm
Reuters
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

The Trump administration expects economic sanctions that it is re-imposing on Iran this week to further cripple the Iranian economy and will aggressively enforce the measures, senior U.S. administration officials said on Monday.

The so-called snapback sanctions, due to come into force early on Tuesday, would target Iranian purchases of U.S. dollars, metals trading and other dealings, coal, industrial-related software and its auto sector.

Iran`s rial currency has lost half its value since April under the threat of revived U.S. sanctions. The plunge in the currency and soaring inflation have sparked sporadic demonstrations in Iran against profiteering and corruption, with many protesters chanting anti-government slogans.

President Donald Trump is aiming to cut off the Iranian leadership`s access to resources, the officials said. The United States also plans to re-introduce potentially more damaging sanctions on Iranian oil in November.

But the U.S. sanctions strategy has several weak spots, especially a reluctance by Europe and China to curtail business with Iran.

The European Union voiced regret on Monday at the looming U.S. sanctions.

Trump warned on Monday of "severe consequences" for people or entities that fail to wind down economic activities with Iran.

"The United States is fully committed to enforcing all of our sanctions, and we will work closely with nations conducting business with Iran to ensure complete compliance," he said in a statement.

If Iran wants to avoid the reimposition of sanctions it should take up Trump`s offer to negotiate, White House national security adviser John Bolton said on Monday.

Asked on Fox News what Iran`s leaders could do, Bolton said: "They could take up the president`s offer to negotiate with them, to give up their ballistic missile and nuclear weapons programs fully and really verifiably not under the onerous terms of the Iran nuclear deal, which really are not satisfactory."

"If Iran were really serious they`d come to the table. We`ll find out whether they are or not."

The sanctions now being brought back were among those lifted under the 2015 deal between world powers and Tehran on curbing Iran`s nuclear program.

Foes for decades, the United States and Iran have been increasingly at odds over Iran`s growing political and military influence in the Middle East since Trump took office in January 2017.

Trump announced this May he would withdraw the United States from the Iran nuclear deal.

Iranian Foreign Minister Mohammad Javad Zarif said on Monday that Trump and U.S. allies Israel and Saudi Arabia have become isolated by their hostile policies towards Tehran, state TV reported.

"Their oppressive policies and violent measures have made them isolated ... The world has distanced itself from their hostile policies against Iran," Zarif was quoted as saying.

The sanctions aim to modify Iran`s behavior and not bring about a "regime change" targeting President Hassan Rouhani, the U.S. officials said. They said the Iranian government`s handling of social and labor protests was a concern. EUROPE WORRIED

The European Union expressed concern at the new U.S. move.

"We deeply regret the re-imposition of sanctions by the U.S.," the bloc said in a joint statement with the foreign ministers of France, Germany and Britain.

One EU measure to mitigate the impact of U.S. sanctions, known as the blocking statute, will come into force on Tuesday.

One U.S. official said the administration was deeply concerned about reports of Iran’s violence against unarmed citizens. "The United States supports the Iranian people’s right to peacefully protest against corruption and oppression without fear of reprisal," the official added.

The U.S. officials added that Trump was ready to meet with Iran`s leaders at any time to try to forge a new agreement.

Trump "will meet with the Iranian leadership at any time to discuss a real comprehensive deal that will contain their regional ambitions, will end their malign behavior and deny them any path to a nuclear weapon," one official said.

Asked about possible exemptions to the sanctions, officials said they would examine any requests on a case-by-case basis.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details Infosys Chairman Nandan Nilekani on India's Digital Economy I Kotak Institutional Equities highlights details
Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities Digital economy to outpace GDP growth, will result in 'competitive advantage period' for leaders in digital space highlights ICICI Securities
#GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here #GSTMakeItEasy: Facing GST related issues? Big initiative by Zee Business - Tweet your problems now! Check all details here
India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global India’s economy picking up steam, estimate recovery at 10% in FY22: S&P Global
RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21 RBI Monetary Policy: Governor Das says repo rate unchanged, sees GDP at 10.5 pct for FY22, inflation at 5.4 pct for Q4FY21

LATEST NEWS

Heranba Industries IPO Subscription Status: Last day today to subscribe

Vivek Oberoi's self-deprecating humour in latest post will leave you in splits

India's Marvel! World's highest rail bridge arch on Chenab in Jammu and Kashmir nears completion, says Piyush Goyal

Stocks to buy with Anil Singhvi: Market Guru recommends this chemical stock for good returns, gives 3 targets

India Post GDS Recruitment 2021: Application for 233 vacant posts for Gramin Dak Sevaks in Delhi postal circle closes in two days! Check how to apply, TRCA allowances, age limit, eligibility and other details now

NSE glitch: Anil Singhvi demands investigation on market action between 3-3:30 pm; asks who caused huge jump in Bank Nifty and Nifty when FIIs were net sellers?

No proposal to reduce tax on petrol, diesel: UP govt

ZeeBiz raises critical questions on NSE trading glitch; Anil Singhvi demands inquiry, asks who will pay compensation for loss?

PM Narendra Modi launches key projects in Puducherry

One QR Code for all apps: Now, scan code from Google Pay, Paytm, PhonePe, Bhim UPI and more at all IOC petrol pumps for hassle free transaction

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved