US announces fresh sanctions that will cut off Iran from the global economy

Tehran: The United States announced fresh sanctions against Iran, targeting the leading Iranian financial institutions and banks, spread around the globe. These new US sanctions will have a direct effect on the entire Iranian financial sector and it is claimed that in effect, Iran will be disconnected from the global economy. Infuriated by this, Iran has lashed out at the United States. Iran accused that the United States is preparing to deprive the Iranian population of food. Meanwhile, as per analysts, President Trump has made the provisions in such a way that even if Trump lost the presidential elections, the next President also would not be able to help Iran.

The term of the sanctions, imposed by the United Nations, is ending in the next few days. The United States had demanded in the UN Security Council that fresh sanctions should be imposed, before the expiry of the old ones. But Russia, China and even European countries had dismissed the US demand. After that, the United States had warned of imposing Snap Back sanctions against Iran. The United States had announced that Iran could not escape these sanctions. Against this background, the United States has started imposing sanctions against Iran and the US Treasury Department announced the toughest sanctions, ever, against Iran. The sanctions target 18 large banks and financial institutions linked to the Iranian economy. Out of these, 16 banks are carrying out business with European and US banks. Whereas, the US treasury department informed that one of these banks was linked to the Iranian military. Therefore, all the accounts and assets of these banks, in the European and US banks, will be frozen. It is claimed that this will have a direct effect on the Iranian economy.

The US treasury department informed that agricultural materials, food, medicines and medical equipment have been kept out of the purview of the sanctions. Iran has expressed annoyance over the US sanctions. Iranian Foreign Minister Jawad Zarif accused that these sanctions are depriving the Iranian population of the basic needs like medicines and food grain, in these difficult times of the Coronavirus pandemic and this amounts to a US conspiracy against Iran and a major crime against humanity. Whereas, the governor of the Iranian Central Bank, Abdulnasser Hemmati, claimed that these sanctions would not affect the Iranian economy. US thinktanks are claiming that these US sanctions are to target the banks and financial institutions in the European countries. The humanitarian aid being sent to Iran from the European banks and financial institutions will be affected by these sanctions. Elizabeth Rosenberg, an analyst with ‘Centre for New American Security’, warned the this comes as a major jolt for Europe, who had chosen to ignore the US sanctions against Iran, so far. Rosenberg claimed that care has also been taken that the next President of the United States will not be able to withdraw these sanctions and start nuclear negotiations once again with Iran.