Trump in warning over trading with Iran

Trump in warning over trading with Iran

Trump in warning over trading with Iran

Earlier in the day he assailed Iran as "a murderous dictatorship that has continued to spread bloodshed, violence and chaos".

The first batch of measures target financial transactions, trade in gold and other metals, the vehicle industry and commercial aviation.

A first phase of US sanctions against Iran went into effect midnight, targeting Iran's access to USA banknotes and key industries including cars and carpets.

Iran's markets were actually relatively buoyant, with the rial strengthening by 20 per cent since Sunday after the government relaxed foreign exchange rules and allowed unlimited, tax-free gold and currency imports. He said Iran has used "the windfall of newly accessible funds" it received "to build nuclear-capable missiles, fund terrorism, and fuel conflict across the Middle East and beyond".

He said Washington was becoming isolated internationally and would come to regret imposing sanctions against the views of its allies and other world powers.

Hassan Rouhani, the Iranian president, hit back by calling the move "psychological warfare".

"We are always in favour of diplomacy and talks... but talks need honesty".

The first set of USA sanctions against Iran that had been eased under the landmark nuclear accord have gone back into effect.

The European commission today put in place never-before-used legislation to protects the continent's firms from USA sanctions which not only target Tehran but their trading partners. "I can't afford to buy food, pay the rent." said a construction worker on the streets of the capital. "The riyal is tanking, unemployment in Iran is rising, and there are widespread protests over social issues and labour unrest".

European enterprises can either comply with United States sanctions and face consequences in Europe for violating the "blocking statute" or keep doing business in Iran and face USA sanctions. Now, it's there. It's their modus operandi.

The Italian politician added that preserving trade with Iran in spite of Trump's tactics were a matter of sovereignty. "We would like to see a change in the regime behavior, and I think the Iranian people are looking for the same thing".

"Preserving the nuclear deal with Iran is a matter of respecting worldwide agreements and a matter of global security", the European bloc stressed.

European Union diplomatic chief Federica Mogherini said the bloc, as well as Britain, France and Germany, deeply regretted the move by Washington. It also blocks the effect of any US court actions in Europe related to the sanctions. The decision has been condemned by the EU's foreign policy chief Frederica Mogherini.

They called the worldwide agreement "a key element of the global nuclear nonproliferation architecture, crucial for the security of Europe, the region and the entire world".

The president called on other nations to join his economic pressure campaign, reminding them that business with Iran excludes them from dealing with the U.S. "Individuals or entities that fail to wind down activities with Iran risk severe consequences". "The EU, along with China, Russia, France, Germany and the United Kingdom, was also a signatory to the deal and has not withdrawn".

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