Experts Weigh in on Iran ‘Snapback’ Sanctions Going Into Effect Today
WASHINGTON, D.C. — Tonight, sanctions that were lifted under the Iran nuclear deal will begin to go into effect. This includes extraterritorial sanctions on the purchase of U.S. dollar banknotes by Iran; Iran’s trade in gold or precious metals; Significant transactions in the Iranian rial; Iran’s civil aviation sector; and Iran’s automotive sector. The decision to violate the Iran nuclear deal and reinstate sanctions has already had a big impact as major European companies that entered the Iranian market – like Peugeot and Total – have already begun pulling out in anticipation of the “snapback.”
Jamal Abdi, President of the National Iranian American Council, issued the following statement on the reimposition of Iran sanctions:
“Today, the United States again violated a successful nuclear nonproliferation agreement endorsed by the UN Security Council that it helped negotiate, doing grievous harm to American leadership abroad and our ability to resolve challenges diplomatically rather than militarily. This weakens the Transatlantic alliance and pushes Iran further into the hands of Russia and China, undermining the security of the United States and its allies.
“These sanctions will threaten Iran’s compliance with the nuclear accord, while also undercutting hopes for Iranian moderation, harming the Iranian middle class and empowering Iranian hardliners and extremists. This is not an erratic tweet, but a collective punishment of 80 million people who are being plunged into economic misery and denied basic necessities such as life-saving medicine and safe civilian aircraft.
“Making matters worse, the Trump administration does not have a viable diplomatic plan to secure additional concessions from Iran. Instead, the administration appears to be joining with Israeli Prime Minister Benjamin Netanyahu and Saudi Crown Prince Mohammad bin-Salman in pushing to destabilize Iran and create another failed state in the region.
“Make no mistake, with Trump listening to warmongers like John Bolton and Mike Pompeo, this puts the United States on the path to yet another costly and dangerous Middle East conflict.”
On November 4, the remaining sanctions that were lifted under the accord will be reinstated into full effect, including those targeting Iran’s energy sector; Purchases of petroleum and related products; Transactions by foreign financial institutions with the Central Bank of Iran and designated Iranian financial institutions; and Persons removed from the Specially Designated Nationals (SDN) list, including most Iranian financial institutions.
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