Pompeo: Sanctions to be enforced until Iran 'behaves like a normal country'

Posted August 07, 2018

But many large European firms are leaving Iran for fear of U.S. penalties, and Trump warned of "severe consequences" against firms and individuals that continued to do business with Iran.

President Donald Trump is signing an executive order reimposing many sanctions on Iran, three months after pulling out of the Iran nuclear deal.

"The JCPOA, a terrible, one-sided deal, failed to achieve the fundamental objective of blocking all paths to an Iranian nuclear bomb", Trump said on Monday.

"We urge all nations to take such steps to make clear that the Iranian regime faces a choice: Either change its threatening, destabilizing behavior and reintegrate with the global economy, or continue down a path of economic isolation", President Donald Trump said in a statement Monday.

Trump said he supported a new deal with Iran that actually addressed its long-standing financial backing for terrorists as well as its missile program. This is why the European Union's updated Blocking Statute enters into force on 7 August to protect EU companies doing legitimate business with Iran from the impact of United States extra-territorial sanctions'.

President Rouhani has dismissed calls for talks with the US
Image President Rouhani has dismissed calls for talks with the US

Those sanctions go back in place on Monday. But Rouhani on Monday dismissed fresh talks while the sanctions remain in effect. European foreign ministers said Monday they "deeply regret" the reimposition of USA sanctions.

Hemmati said Iran has exported some $15 billion worth of non-oil products from April to July.

Zarif continued, "Trump Administration wants the world to believe it's concerned about the Iranian people".

Renewed US hostility has already sparked a run on Iran's currency, which has lost around half its value since Trump's announcement.

"The president is trying to find a way to move forward, but it's going to require enormous change on the part of the Iranian regime", Secretary of State Michael R. Pompeo said Sunday.

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He said Iran is the world's foremost sponsor of terrorism, and that Mr. Trump is intent on getting them to "behave like a normal country".

The Iranian President Hassan Rouhani has dismissed calls for talks with the U.S. on the eve of the move, adding America "cannot be trusted" and wants to "create chaos in Iran".

Iran said the United States was "isolated" in its hostility to the Islamic republic on Monday, as it braced for the return of sanctions against a backdrop of political turmoil inside the country.

Senior administration officials briefing reporters Monday repeatedly tied this new economic pressure campaign to Trump's recent comments about meeting with the Iranian leadership, saying the USA wants to talk to reach a new Iran deal.

Foreign currency values began to rise in Iran after the U.S. withdrew from the Iran nuclear deal in May and announced plans for a fresh wave of sanctions against the Islamic Republic.

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Trump's controversial decision to rescind United States participation in the JCPOA paved the way for the reimposition of sanctions in two stages: the first batch will kick in on Tuesday, 90 days after the country's withdrawal; the second round will take effect on 4 November, at the 180-day mark after the USA departure.

With the USA administration taking a hard line on granting waivers from sanctions, many major companies from the oil and gas industry to auto manufacturers and consumer goods firms have already announced that they are quitting the country.

But that came less than a fortnight after a bellicose exchange between the two presidents, with Rouhani warning of the "mother of all wars" and Trump responding with a Twitter tirade against Iran's "DEMENTED WORDS OF VIOLENCE". The fall of prices for the rial has been heavy related to the surge in the price of gold, as economic uncertainty has many Iranians running to precious metals, and gold imports surged in recent weeks.

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