Iranian trade crisis
Trump threatens to unleash the ‘most biting sanctions ever’
DONALD Trump has threatened to cut trading links with any countries that do business with Iran, as he hailed the “most biting sanctions ever imposed”, triggering a mix of anger, fear and defiance in Tehran.
“The Iran sanctions have officially been cast. These are the most biting sanctions ever imposed, and in November they ratchet up to yet another level,” Trump wrote on Twitter. He also wrote that the US had reimposed sanctions on Iran because he seeks “world peace”.
It came after the first set of sanctions – which had been eased under a 2015 nuclear accord – resumed effect yesterday following an executive order signed by Mr Trump.
Countries including Britain and France have said they would adhere to the accord – which aimed to prevent Iran building nuclear weapons – and maintain trade links.
The President tweeted yesterday: “Anyone doing business with Iran will NOT be doing business with the United States.” He added: “I am asking for world peace, nothing less!”
The reimposed sanctions will affect all financial transactions involving the US dollar, Iran’s automotive sector, the acquisition of commercial planes and metals including gold. The measures will ratchet up pressure on Iran three months after Mr Trump pulled the US out of the international accord limiting its nuclear activities.
The US will reintroduce other measures targeted at Iran’s oil sector and central bank in early November.
Mr Trump has warned that other countries “risk severe consequences” if they do not curb economic ties to Iran. But EU foreign policy chief Federica Mogherini and the foreign ministers of France, Germany and the UK said in a statement that the deal was “crucial for the security of Europe, the region and the entire world”.
The EU issued a blocking statute on Monday to protect European businesses from the US sanctions. Iranian President Hassan Rouhani said his country could rely on China and Russia to keep its oil and banking sectors afloat.