July 29, 2021

The US sanctions against Iran come into force, including the sale of crude

The US sanctions against Iran come into force, including the sale of crude

The new batch of US sanctions against Iran as a result of Washington's withdrawal from the 2015 nuclear agreement entered into force today, and will penalize the sale of Iranian oil, financial transactions with its Central Bank and the country's port sector.

The US government scheduled the automatic entry into force of the sanctions for midnight Sunday through Monday on the east coast of the United States (5:00 GMT on Monday).

"These are the strongest sanctions that our country has ever imposed," said US President Donald Trump, speaking to reporters a few hours before the restrictions began to be implemented.

Washington plans to give more details today about the impact of the sanctions, for which the US Treasury Department will include more than 300 new entities on its blacklist, apart from another 400 that will return to it after leaving in 2015, when it was signed. the nuclear agreement.

"I am very confident that the sanctions, not only those of crude oil, but also the financial ones imposed by the Treasury Department, will have the desired effect: to alter Iran's behavior" in the world, said the US Secretary of State. UU., Mike Pompeo, in an interview this Sunday with Fox News.

The extraterritorial nature of the sanctions has already forced many companies from other countries outside the US. to abandon their business and contracts in Iran, such as the French oil company Total.

Although its goal is that Iranian oil purchases be reduced to zero worldwide, the Trump government plans to exempt from sanctions for at least six months to eight countries or "territorial jurisdictions" to give more time to their companies to cut its dependence on Tehran crude.

It will be this Monday when Washington reveals what these eight countries are, and they are expected to include China, India, Japan and South Korea, according to The New York Times.

The rest of the signatories of the nuclear agreement with Iran rejected by Trump – Russia, China, France, the United Kingdom and Germany – are looking for ways to save the agreement and maintain trade and purchases of Iranian crude.


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