US announces fresh sanctions against Iran

Third World WarWashington: The United States has tightened the pressure on Iran with a new set of sanctions. Under the new sanctions, those purchasing iron, steel, copper and aluminium from Iran will be liable for action, President Trump sternly warned. The United States reprimanded that if the United Kingdom continues its trade cooperation with Iran, it will also have to face sanctions. Therefore, these sanctions may also severely hit the European countries along with Iran. Earlier, the European countries had bitterly opposed the sanctions slapped on Iran.

US, Iran, fresh sanctionsPresident Trump announced fresh sanctions on Wednesday. As per the new sanctions, any trade, with Iran, in iron, steel, copper, aluminium and any related products, will be a treated as a violation of the economic sanctions imposed against Iran. President Trump warned that the United States will take a strong action against those violating them. President Trump also warned that if Iran does not change its stance, a harsher action will be initiated against it.

President Trump issued an executive order to announce the sanctions. It is said that the ore exports account to nearly 10% of the total Iranian exports. Nevertheless, the Iranian economy is majorly dependent on oil export. The United States has succeeded in bringing the Iranian oil exports down, with strict sanctions levelled on the Iranian oil sector which has strongly impacted the Iranian oil and banking sectors, further hampering the economy. In this situation, the fresh sanctions only will deepen the crises for Iran.

US, Iran, fresh sanctionsHowever, the new US sanctions have been issuing warning to the European allies as well. Moreover, Iran has given a timeline of 60 days to the European countries, to initiate steps to safeguard the interests of the Iranian oil and banking sectors. The Iranian President threatened the European countries to take measures to bailout the Iranian oil and banking sector, before expiry of the time line, or else Iran would resume the Uranium enrichment process. But President Trump’s associate, Tim Morrison warned the European countries that if they start cooperation with Iran, giving in to the Iranian threat, they too will face sanctions from the United States. Morrison even lambasted the United Kingdom, the closet ally of the United States in Europe. He said that the US would slap sanctions on the United Kingdom too if it continued trade with Iran.

Meanwhile, the European countries have expressed regret over the Iranian threat of uranium enrichment. But at the same time, have criticised the United States for the sanctions imposed against Iran. Therefore, it seems that the European countries have been cornered from both the sides, in the face of Iran’s sanctions. On one hand, the United States is unrelenting to give any concessions even to its allies, for trade with Iran and on the other hand, Iran, cornered from all sides, is threatening to resume Uranium enrichment, scrapping the nuclear deal. Therefore, it’s a deadlock situation for European countries and it is time for the European countries to act decisively and make a choice, between the United States and Iran.

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