Turkey and Iraq to get exemptions from United States sanctions on Iran

Gladys Abbott
November 4, 2018

Iran hopes less transparency will allow it to keep selling oil after November 5 when the United States re-imposes the last set of sanctions lifted under the 2015 nuclear deal, which Washington abandoned in May.

The US has also allowed Iraq to keep importing crucial gas, energy supplies and food from Iran.

These eight countries are among the top 20 oil importers from Iran, he told reporters.

Pompeo said Washington made a decision to issue the temporary waivers "only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts". Under U.S. law, exceptions can be granted for up to 180 days.

However, the US government said on Friday it will temporarily allow several countries including South Korea and Turkey to keep importing Iranian oil when USA sanctions come back into force on Monday, sparing them for now from the threat of USA economic penalties.

The three biggest European powers are co-signatories, along with Russian Federation and China, to an global 2015 deal with Iran that reined in its nuclear work in exchange for the lifting of most worldwide sanctions on Tehran.

India is on the list, USA officials have indicated.

At the time, Seener expressed a similar opinion that even as European Union companies played ball with United States sanctions (against their government's wishes), support for Iran from China, Russia, India and South Korea would be too strong too sufficiently isolate the Islamic Republic's economy.

Mahmoud Sadeghi, an Iranian politician, said the move would further unite the Iranian nation against the threat of Trump's "bullying tactics".

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The United States announced Friday it had agreed to grant waivers to eight countries that, it said, had started reducing their purchases.

Earlier in the day, Bloomberg reported, citing an anonymous senior official from the USA administration, that the United States had agreed to grant eight states, including India, Japan and South Korea, waivers from the upcoming U.S. sanctions targeting Iranian oil sector.

Iran is preparing for the return of US sanctions November 5 that will hit its multi-billion dollar oil exports.

"We have advised SWIFT that it must disconnect any Iranian financial institution that we designate as soon as technologically feasible to avoid sanctions exposure", Mnuchin said on the call.

This is the second round of sanctions the administration has enacted since exiting the agreement, this time targeting energy and financial operations in the country.

"America will not be able to carry out any measure against our great and fearless nation". Mr Trump argues that the terms of the deal are unacceptable and it has not stopped Iran developing a ballistic missile programme and intervening in neighbouring countries, including Syria and Yemen.

USA officials said Friday that Washington was adding 700 individuals and entities to its Iran blacklist and pressuring the global SWIFT banking network to cut off Tehran when expanded sanctions are put in place next week.

He said the Iranian economy is already reeling from the earlier sanctions, with the currency losing half its value since April.

His comments came after the US Treasury announced sanctions on a network of businesses it said were tied to the Basij Resistance Force, a group that the department said works with Iran's Islamic Revolutionary Guard Corps. "But banks must be very careful that these are not disguised transactions or they could be subject to certain sanctions".

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