Published: Sat, November 03, 2018
World News | By Sandy Lane

U.S. allows eight importers to keep buying Iran oil for now

U.S. allows eight importers to keep buying Iran oil for now

Trump set in motion the resumption of sanctions on May 8, when he announced USA withdrawal from a 2015 deal between Iran and world powers under which Tehran had agreed to curtail its nuclear program in return for relief from sanctions. He has issued a list of 12 demands that Iran must meet to get the sanctions lifted that include an end to its support for terrorism and military engagement in Syria and a halt to nuclear and ballistic missile development.

"The United States has launched a campaign of economic pressure to deny the regime the funds it needs to advance its bloody agenda", Trump said in a statement.

The U.S. move, which was described by a congressional source and by another source familiar with the matter, were confirming a report by Bloomberg that Washington would allow the eight to keep buying Iranian oil after it re-imposes sanctions on Tehran on Monday.

However, he said that the European Union as a whole, which has 28 members, would not receive a waiver.

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Secretary of State Mike Pompeo said the sanctions are "aimed at fundamentally altering the behavior of the Islamic Republic of Iran".

Treasury Secretary Steve Mnuchin said the USA has "gone after the financial networks that the Iranian regime uses to fuel its terrorist proxies in Hezbollah and Hamas, to fund the Houthis in Yemen, and to support the brutal Assad regime in Syria". "Our ultimate aim is to compel Iran to permanently abandon its well-documented outlier activities and behave as a normal country".

At the same time, imports from the United States had also risen significantly earlier this year, after President Trump announced the sanctions for the first time.

Some of the sanctions against the regime were reimposed in August, targeting Iran's automotive sector, currency, and trade in gold and precious metals.

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"America will not be able to carry out any measure against our great and courageous nation ..."

With limited exceptions, the reimposed USA sanctions will hit Iran as well as countries that do not stop importing Iranian oil and foreign firms that do business with blacklisted Iranian entities, including its central bank, a number of private financial institutions, and state-run port and shipping firms, as well as hundreds of individual Iranian officials.

He stressed that "our actions today are targeted at the regime, not the people of Iran who have suffered grievously under this regime"; the U.S.

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