Trump Reimposes Iranian Economic Sanctions

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"I am asking for WORLD PEACE, nothing less".

The first set of USA sanctions that had been eased under a landmark Iran nuclear accord target financial transactions involving US dollars, Iran's automotive sector, the purchase of commercial airplanes and metals, including gold.

In this photo released by official website of the office of the Iranian Presidency, President Hassan Rouhani addresses the nation in a televised speech in Tehran, Iran, Monday, Aug. 6, 2018. The US wasn't trading with Iran in the first place, so Iran isn't actually losing anything on that front.

The two other signatories to the 2015 pact - Russian Federation and China - also continue to support it.

"It is a commercial decision for companies whether they continue to work in Iran".

The ministry said it will do "everything necessary" to save the historic 2015 Iran nuclear deal and protect its shared economic interests with Tehran.

One of the officials said that almost 100 worldwide firms have announced their intention to leave the Iranian market, particularly in the energy and finance sectors.

Despite Trump's claims, European Union foreign policy chief Federica Mogherini and the foreign ministers of France, Germany and the United Kingdom said in a statement that the accord "is working and delivering on its goal" of limiting Iran's nuclear program. But that has proven hard: European companies have pulled out of Iran, arguing that they can not risk the prospect of damage to their US business.

European companies will be protected from the impact of new sanctions imposed by the USA on Iran, Britain has said.

But a second tranche coming into effect on November 5 covering Iran's vital oil sector, could be far more damaging - even if several key customers such as China, India and Turkey have refused to significantly cut their purchases.

The blocking statute applies to anyone, foreign or otherwise, who is a resident in the European Union and also does business in Iran.

Daimler was joined by major companies including Boeing (BA), Airbus (EADSF), Total (TOT) and Siemens (SIEGY), all of which sought to capitalize on pent up demand in Iran for consumer products and improvements to infrastructure and equipment.

The Blocking Statute was introduced in 1996 in response to U.S. extra-territorial sanctions against companies operating in Cuba, Iran and Libya.

PSA (PUGOY), which makes Peugeot and Citroen cars, said in June that it has begun to suspend its joint ventures in the country in order to comply with United States law.

But Obama's successor Trump pulled out of the pact on May 8, fulfilling a 2016 campaign promise to withdraw from a deal he once described as the "worst ever".

Majidyar noted the threat of sanctions had already forced major worldwide companies and banks to scale down their activities in Iran. "He will meet with Iranian leadership at any time to discuss a real, comprehensive deal that will contain their regional ambitions, will end their malign behavior and deny them any paths to a nuclear weapon".

"And because of the fear of the United States sanctions, they would be very reluctant to invest in Iran or do business with Tehran after this".