Sunday, 18 November, 2018

Iran Has Plans to Counter New US Sanctions, VP Says

US motorists will not welcome any price rise at the pump Saudi oil output capacity may be close to maxing out Saudi oil output capacity may be close to maxing out
Scott Davis | 07 November, 2018, 06:35

The move will restore United States sanctions that were lifted under a 2015 nuclear deal negotiated by the administration of President Barack Obama, and add 300 new designations in Iran's oil, shipping, insurance and banking sectors. "The US-& not Iran-is isolated".

President Donald Trump pulled out of the deal, called the Joint Comprehensive Plan of Action, in May, and Monday was the deadline to reimpose its sanctions.

Oil prices in October rallied above $85 per barrel on fears of a steep decline in Iranian exports. Many of these companies initially were targeted by sanctions under President Barack Obama, but the restrictions were subsequently lifted when the USA struck a deal with Iran in 2015 over its nuclear ambitions.

On Monday, the USA restored sanctions targeting Iran's oil, banking and transport sectors and threatened more action to stop what Washington calls its "outlaw" policies, steps Tehran calls economic warfare and vowed to defy. It exported nearly three million barrels of crude oil per day on an average.

The move brings the total of Iranian-related targets sanctioned under the Trump administration to 900 in less than two years and represents a significant escalation of Washington's efforts to place economic pressure on the Iranian regime.

The designated targets include 50 Iranian banks and their subsidiaries, over 200 persons and vessels in Iran's shipping and energy sectors, one Iranian airline and more than 65 of its aircraft, according to the statement.

On Monday, Pompeo said over 20 importing nations have zeroed out their imports of crude oil already, taking more than 1 million barrels of crude per day off the market.

Tehran has claimed a diplomatic victory against the United States with Europe still pressing hard to salvage the 2015 nuclear deal and taking steps to establish a payments channel to bypass the sanctions.




Oil prices witnessed a slight and expected fluctuation on Monday as sanctions on Iran's fuel exports were eased as as they went into effect, allowing major buyers to continue importing Iranian oil at least temporarily.

He also noted that the United States has only been isolating itself more and more from the rest of the world by imposing sanctions on Iran.

Iran's clerical rulers have dismissed concerns about the impact of sanctions on the economy.

This could mean European and other banks and businesses face secondary sanctions if Washington deems them in breach of sanctions, and USA officials have been pressing SWIFT to act.

The company's spokeswoman has also commented on the conditions for the oil imports payments introduced by Washington for the eight countries, under which they will be required to deposit Tehran's revenues from oil trade in an escrow account.

Iranian Ambassador Gholamali Khoshroo said in a letter to UN Secretary-General Antonio Guterres that the "irresponsible conduct of the United States necessitates a collective response to uphold the rule of law". China's foreign ministry expressed regret at the USA move.

"Allowing these activities to continue for the time being will improve ongoing oversight of Iran's civil nuclear program", Pompeo said, "and make these facilities less susceptible to illicit and illegal nuclear uses".

The US has granted exceptions to eight countries including big consumers like India and China, which means Iranian oil will keep flowing.

Recommended

Tom Curry ruled out of England's entire autumn worldwide series Tom Curry ruled out of England's entire autumn worldwide  series You know that. "All the data shows that", Jones said. "I think everyone's been looking forward to the game". Well, you're going to do it at some stage - you know that, you know that.

Camilla sparkles alongside Prince Charles for ritzy black-tie event Camilla sparkles alongside Prince Charles for ritzy black-tie event Who else Prince Charles will meet with a number of British Ghanaians in the business, arts, culture and media industries. The Prince of Wales and The Duchess of Cornwall have arrived at Jubilee House in Accra for an official welcome ceremony.

Brexit: Irish rule out time-limited Brexit backstop Brexit: Irish rule out time-limited Brexit backstop This would keep the whole of the United Kingdom in the customs union to avoid a hard border in Ireland. While the European Union has refused to accept a backstop that does have a time-limit.

Saudi team sent to Istanbul to 'cover up' Khashoggi's murder Saudi team sent to Istanbul to 'cover up' Khashoggi's murder The sons of slain Saudi journalist Jamal Khashoggi have issued an appeal for the return of their father's body. Government-linked Turkish media reported that Khashoggi's body was dismembered and removed from the consulate.

Amazon is now offering free shipping for all holiday orders Amazon is now offering free shipping for all holiday orders According to the Seattle company's latest annual filing, shipping costs almost doubled from 2015 to 2017, reaching $21.7 billion. With this move, Amazon is forgoing numerous fees it would normally collect to offset shipping costs.

Wisconsin Girl Scouts, 1 adult killed in hit-and-run crash Wisconsin Girl Scouts, 1 adult killed in hit-and-run crash In Wisconsin, the school, the community of Scouts and most of Chippewa were preparing to attend a memorial at 6 p.m. The Lake Hallie Police Department would like to extend our deepest sympathies to the families involved.

Spice Girls to announce reunion for United Kingdom tour without Victoria Beckham Spice Girls to announce reunion for United Kingdom  tour without Victoria Beckham Fifth Spice Girl Victoria Beckham has opted out of the reunion but the fashion designer has sent them her love and support. Victoria Beckham has broken her silence following the news the Spice Girls have reunited and will be touring without her .

Magic makes clear to Lakers' Walton he expects more Magic makes clear to Lakers' Walton he expects more We just weren't sharp enough. "Unless you hold a team to 80 or 90 you'll always find things you have to get better at". LeBron James' start to his first season with the Los Angeles Lakers has been without a doubt a circus.

Daniel Cormier submits Derrick Lewis to retain heavyweight title at UFC 230 Daniel Cormier submits Derrick Lewis to retain heavyweight title at UFC 230 This kind of hype wasn't exactly brimming with the nastiness of Conor McGregor throwing a hand truck at a bus to get at his foe. Cormier has already warned Lesnar that he will "slap" him if he is to try anything similar after his fight with Lewis.

Lukaku absent from Manchester United squad Lukaku absent from Manchester United squad Sportsmail takes a look at six things you might have missed from the frantic action at the Vitality Stadium on Saturday lunchtime. He will be assessed on Sunday before a decision is made about whether to include him the squad which flies to Turin on Tuesday.

SRK Greets Thousands Of Fans Outside His Residence ‘Mannat’ On 53rd Birthday SRK Greets Thousands Of Fans Outside His Residence ‘Mannat’ On 53rd Birthday Katrina is said to be playing an actress battling alcoholism in Zero , while Anushka is expected to play a scientist. Shah Rukh came outside for a few minutes to thank his enthusiastic fans and greeted them with folded hands.

Migrants who throw rocks will be arrested, not shot Migrants who throw rocks will be arrested, not shot The spot includes expletives uttered by Bracamontes during his trial professing regret at not killing more officials. He responded that stone throwing would be seen as a lethal threat. "What they did to Mexican military is disgrace".

Video of cop killer tweeted by Trump denounced as racist Video of cop killer tweeted by Trump denounced as racist Republicans everywhere should denounce it", said Republican senator Jeff Flake of Arizona, a frequent critic of Mr Trump. Democratic National Committee Chairman Tom Perez characterised the ad as "distracting, divisive Donald at his worst".

Donald Trump, Xi Jinping eye G20 talks after ‘very good’ phone call Donald Trump, Xi Jinping eye G20 talks after ‘very good’ phone call Trump said he and Xi also had "a good discussion on North Korea". Trump said the two countries have a chance to make a fair deal.

Aamir Khan is all praises for Shah Rukh Khan in ‘Zero’ Aamir Khan is all praises for Shah Rukh Khan in ‘Zero’ Shah Rukh Khan surely knows how to build momentum. "We will meet soon at the Kolkata International Film Festival #KIFF2018 ". Sharma will reportedly play a struggling scientist while Kaif will take on the role of an alcoholic for the first time.