Daily Management Review

US’s Iran Ban Comes Into Force, US Dodges Question On Exemption Of India & China


11/05/2018




US’s Iran Ban Comes Into Force, US Dodges Question On Exemption Of India & China
The effect on the Iranian regimen to alter its behaviour as the Trump administration wants would by possible by the "the toughest ever" sanctions against the country, said the US even though there was no direct answers of whether Washington had got any firm commitment from India and China about halting oil imports from Tehran.
 
The sanctions came into force from Monday.

The banking and energy sectors have been targeted in the latest sanctions by the US which also includes clauses for imposing penalties for countries in Europe, Asian and elsewhere for them doing any business with Iran.
 
So far, it appears that the punitive American sanctions targeting the Iranian oil sector have been skipped by India and China which are the two largest importers of Iranian oil.
 
It is being believed that these tow Asian countries are among the eight countries have been granted a rare relief from the Trump sanctions on Iranian oil exports.

The countries of Turkey, Iraq, Italy, Japan and South Korea have been asked by the Trump administration to slowly bring down their oil imports from Iran to zero, the US said.

Repeated questions about any form of commitment from India and China on zero-oil purchase from Iran were repeatedly dodged by US Secretary of State Mike Pompeo while appearing in a talk show on Fox News.
 
"Watch what we do. Watch as we've already taken more crude oil off the market than any time in previous history. Watch the efforts that President Trump's policies have achieved. We've done all of this, too, while making sure that American consumers don't suffer,” he said, while avoiding a direct answer on the issue.

“I am very confident that the sanctions that will be re-imposed this Monday, not only the crude oil sanctions, that the financial sanctions that are being put in place by the Treasury Department and over 600 designations of individuals and companies in Iran will have the intended effect to alter the Iranian regime's behaviour. That's our expectation. It's the reason for President Trump's policy,” he asserted. 
 
According to media reports in India, the country which is the second largest importer of oil from Iran has in principle agreed to limit its monthly import of Iranian oil at 1.25 million tonnes or 15 million tonnes in a year (300,000 barrels per day) from about 22.6 million tonnes (452,000 barrels per day) that the country had imported in 2017-18 financial year.
 
This latest round of sanctions on Iran are the toughest ever faced by Tehran, stressed Pompeo.

“They're aimed at a singular purpose, denying the world's largest state sponsor of terrorists the capacity to do things like they did this past couple weeks, attempted assassination campaign in the heart of Europe,” he said. 

Terming it as “disastrous”, US president Donald Trump had pulled the US out of the Iran nuclear deal which is officially known as the Joint Comprehensive Plan of Action (JCPOA) and was struck in 2015 between Iran and a number of Western powers including the UEWs and several European countries such as the UK and France.
 
(Source:www.economictimes.com)






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