US sanctions on Iran to come into effect tomorrow

United States of America will reimpose sanctions on Iran which will come into effect from tomorrow targeting Iranian automobile sector, gold and trade in other metals. The second round of the sanctions will come into effect from November 04. President Trump had withdrawn from the Joint Comprehensive Plan of Action signed between Iran and P5+1 nations without any violation from the Iranian side.

Earlier US Secretary of State, Mike Pompeo had said that Trump administration will completely impose sanctions on Iran in an attempt to keep Iran from pushing ahead with its malign activity. Pompeo expressed faith that Tehran will not be able to evade the curbs on financial transactions and oil exports. The aim of the sanctions is to bring Tehran on the negotiating table.

Iranian Foreign Minister has however, urged various countries to continue to do business with Tehran even after the sanctions come into force. Many foreign businesses have, however, begun to wind down their trade with Iran amid fears of secondary sanctions by US. Mike Pompeo stated that Iran will have to make massive policy changes to escape the shell of sanctions as US administration has raised the bar for tensions to ease and resumption of trade. Pompeo was quite hopeful of the fact that many diplomats whom he met at the Singapore Summit agreed with US that Iran had to behave as a normal and responsible nation. He, however had little expectation from Iranian administration to change course and come to the negotiating table to discuss ballistic missile testing and express its support for the militants. He also brought up the fact that Iranians were not happy with their government and have expressed their anguish in form of widespread protests.



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