Tuesday, 22 January, 2019

Seoul: Iranian waiver shows strength of alliance with US:The Asahi Shimbun

Seoul: Iranian waiver shows strength of alliance with US:The Asahi Shimbun Seoul: Iranian waiver shows strength of alliance with US:The Asahi Shimbun
Nellie Chapman | 07 November, 2018, 02:58

The IAEA emphasized in its reports earlier that Iran was committed to the agreement and its nuclear activity was under strict control and subject to thorough checks.

The accord provided Iran with billions of dollars in relief from worldwide sanctions in exchange for sweeping curbs on and inspections of its nuclear program.

In addition to hitting Iran's energy sector, Monday's sanctions will target Iran's shipping, shipbuilding and financial sectors.

China was given a waiver to import about 360,000 bpd from Iran during the exemption period, sources told Reuters, while South Korea was given a daily quota of about 130,000 bpd, according to Platts.

Washington has agreed to let eight countries keep buying Iranian oil.

"We have made a decision to issue temporary allotments to a handful countries responsive to the specific circumstances and to ensure a well supplied oil market", Pompeo said.

After pulling the United States out of a nuclear deal struck between Iran and six major powers - Britain, China, France, Germany, Russia and the United States - the Trump administration began reimposing sanctions on Iran in August. Iran's Revolutionary Guards Corps are among the forces participating.

Finally, the secretary of state said the administration would provide waivers for European nations for civil nuclear cooperation at a few Iranian facilities.

He added, "We have iron will to counter sanctions".

The United States will exempt China, India and Japan from oil sanctions on Iran, Secretary of State Mike Pompeo said on Monday, while vowing to be "relentless" in pressuring Tehran. The United States said on November 2 it will temporarily allow eight importers to keep buying Iranian oil.

"We are in the economic war situation".

There was no immediate statement from the Ministry of External Affairs but sources in New Delhi said this was the result of hectic negotiations over the last six months with U.S. officials. The other parties to the deal - Britain, France, Germany, China and Russian Federation - say they will not leave.

However she said it was "yet to be seen" if these measures would be effective when balanced against the risk of being cut off from the United States market. In September, there was no import of Iranian oil, according to the nation's state-run oil agency.

The Trump administration has sent a warning to the world about daring to break the Iran oil embargo.

The sanctions aim to significantly cut Iran's oil exports - which have already fallen by around one million barrels a day since May - and cut it off from global finance. U.S. West Texas Intermediate (WTI) crude CLc1 futures fell 4 cents to US$ 63.10 a barrel.

"Our ultimate goal is to convince the regime to abandon its current revolutionary course", Pompeo said announcing the sanctions on Monday. The fear was that the sanctions deadline would have pushed oil prices sharply higher.

"Today the enemy [the US] is targeting our economy... the main target of sanctions is our people", Iranian President Hassan Rouhani said.

The curbs come as the United States is focused on USA congressional and gubernatorial elections on Tuesday.

"This is actually what America is trying to do - to encourage discontent that they hope will be taken out on the Iranian government and lead to a change in regime there".

"That's why they want us to round up our missiles".