US Begins Attack on Iran, sanctions Strike Oil, Financial Sector

From this day, different businesses in Iranian oil companies stop, writes DW.

Insurance of all species is also forbidden, including those of oil transports. At the same time, sanctions for the financial sector will be added. So all financial transactions with the Iranian Central Bank and other Iranian banks will be banned. President Trump has called these sanctions the worst “of all time”. Iranian oil exports must be zeroed, according to the American government's will. Even if this is not fully achieved, any new type of oil export limit would be painful for Iran. 80% of Iran's state income originated in the sale of oil.

What sanctions are in effect?

Following a unilateral US exit from the Joint Comprehensive Plan of Action, February JCPOA, the US set deadlines for Iran's partners to reduce their businesses. The first 60-day deadline ended on August 6th. After that Iran was blocked from access to the U.S. dollar. Other important Iranian industries, such as automobiles and carpets, were also imposed under sanctions. The second deadline ends November 5.

What is the purpose of sanctions?

According to the U.S. government, sanctions must be exercised „to a minimum pressure on Iran. US State Department Secretary Mike Pompeii in a speech on May 21st presented a list of 21 requirements that must be met to ward off sanctions. Iran must hand over its missile programme, no longer support its <x1 terrorist groups in the Middle East,” including Hizbollahs, Hamas and the Palestinian Islamic Jihad group. This country must withdraw all troops under Iranian command from Syria, and require the privatisation of Shiite militias in Iraq.

The collapse of the Iranian government is not the officially announced purpose of sanctions. But statements by the American president for security, John Bolton, let you understand that Iran's destabilisation and the regime's shift in Tehran would be desirable.

Other partners of the atomic deal, such as Germany, France, England, China and Russia, have condemned the unilateral US departure from the atomic agreement. They want to respect the agreement it took 12 years to reach. The purpose of the deal would be reached according to them so that the removal of the risk for Iran to be armed with nuclear weapons. Iran's political position in the region has never been part of the agreement. Iran also wants to respect the deal. But only if you take advantage of the advantages of this agreement. This included economic exchange with the country weakened by sanctions. The International Atomic Energy Agency has already confirmed that Iran respects the terms of the atomic agreement.