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Trump’s sanctions against Iran have more BITE than many are predicting. Here’s why (Video)

The Trump White House announced the restoration of sanctions against Iran, aimed at choking Tehran’s economy and, as Secretary of State Mike Pompeo noted, “depriving the regime of the revenues it uses to spread death and destruction around the world.”

Pomeo said that the sanctions are “aimed at fundamentally altering the behaviour of the Islamic Republic of Iran”.

Pompeo further added…

“Our ultimate aim is to compel Iran to permanently abandon its well-documented outlaw activities and behave as a normal country.”

The US Secretary of State also issued a list of 12 demands that Iran must meet to see the sanctions lifted.

Iran’s shipping, financial and energy sectors will be affected by the crippling sanctions, with more than 700 businesses, individuals and other entities targeted.

Treasury Secretary Steven Mnuchin weighed in saying…

“We are sending a very clear message with our maximum pressure campaign: that the US intends to aggressively enforce our sanctions.”

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss the reinstatement of US sanctions on Iran, and how despite EU defiance, European leaders, and the rest of the world (with the exception of Russia and China), will fall in line with American demands to cease trade with Iran.

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Zerohedge reports that SWIFT has caved to US pressure, defying the EU and proceeding to cut off Iranian banks.

Shortly after Trump reimposed nuclear sanctions on Tehran on November 5, the international financial messaging system SWIFT announced the suspension of several Iranian banks from its service. “In keeping with our mission of supporting the resilience and integrity of the global financial system as a global and neutral service provider, SWIFT is suspending certain Iranian banks’ access to the messaging system,” SWIFT said.

The Belgium-based financial messaging service added:

“This step, while regrettable, has been taken in the interest of the stability and integrity of the wider global financial system.”

SWIFT’s decision has further undermined EU efforts to maintain trade with Iran and save an international deal with Tehran to curtail its nuclear program, after President Donald Trump pulled the US out in May. Being cut off from SWIFT makes it difficult for Iran to get paid for exports and to pay for imports, mostly of oil.

As a further note, the EU was one of the few entities not to receive a sanctions waiver from the US earlier this week.

The European Commission was understandably displeased, and on Wednesday said it found the SWIFT decision “regrettable”

“We find this decision rather … regrettable,” Commission foreign affairs spokeswoman Maja Kocijancic told a briefing.

As we reported over the weekend, last Friday Treasury Secretary Steven Mnuchin warned SWIFT it could be penalized if it doesn’t cut off financial services to entities and individuals doing business with Iran. However, by complying with Washington, SWIFT now faces the threat of punitive action from Brussels.

Washington has been pressuring SWIFT to cut off Iran from the financial system as it did in 2012 before the nuclear deal. Six years, ago the EU imposed sanctions on Iranian banks, forcing SWIFT, which is subject to EU laws, to cut financial transactions with at least 30 of Iran’s financial institutions, including the central bank.

Iranian banks were reconnected to the network in 2016 after the Iran nuclear deal came into force, allowing much needed foreign cash to flow into Tehran’s coffers.

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The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.

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Shaun Ramewe
Shaun Ramewe
November 10, 2018

Dream on – Iran is well connected and richly resourced – ZioUS’A-hole’ will lose again.

Cicero
Cicero
November 10, 2018

The 8 countries given waivers by the US include China, India, Turkey, Japan these account for 80% of Irans oil exports so how are the sanctions going to work if they can still export to their biggest customers. Now if the waivers are temporary & are designed to slowy reduce imports then some impact will occur. Also China has taken over Totals share of the South Pars gas field in Iran so theyre not going to abandon the country. Iran is very experienced at skirting sanctions

Olivia Kroth
November 10, 2018

An interesting analysis, thank you, Alexander and Alex. I would like to comment on the relations between Russia and Iran, which are good and getting better every year. In 1979, when the Iranian Revolution happened, the Soviet Union was the first government to acknowledge the new Iranian Governmment. This legacy has been kept unchanged until today. The Russians will not and cannot afford to let Iran down, as it is a large, important neighbour on Russia’s Southern flank, across the Caspian Sea. Russia and Iran are members of the “Caspian Five”. Russia and Iran also share a common interest in… Read more »

gra gor
gra gor
November 11, 2018

“Our ultimate aim is to compel Iran to permanently abandon its well-documented outlaw activities and behave as a normal country.”

Err let me correct that for you.

“Our ultimate aim is to compel The United States of America to permanently abandon its well-documented outlaw activities and behave as a normal country.”

Peter Williams
Peter Williams
November 11, 2018

SWIFT has signed it’s death warrant. Both Russia and China have alternatives to SWIFT. I already send money to Russia bypassing SWIFT. I can send money to, and receive money from Iran, bypassing SWIFT. Kowtowing to the US has a price as SWIFT will learn in the coming years.

Cap
Cap
Reply to  Peter Williams
November 12, 2018

How? Pardon my ignorance!

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