Iranians rally to mark anniversary of U.S. Embassy takeover

US threatens to smack SWIFT with sanctions if it fails to cut off financial services to Iran

The US will grant partial exemptions, known as waivers, to eight governments on condition that any purchases from Iran are at "greatly reduced levels", Secretary of State Michael Pompeo said on Friday.

Turkey and Iraq will receive exemptions from U.S. sanctions on Iran when they come into force on Monday, according to officials from both countries.

Pompeo said two of the jurisdictions, which he did not identify, will wind down Iranian oil imports to zero in "weeks".

Sputnik: President Trump, of course, has been indicating these sanctions will stay in place until a new accord with Iran is signed replacing the Joint Comprehensive Plan of Action, but how hard and how lengthy would it be to convince the sides that are part of the agreement to reconsider, what could be the difficulties?

In May, the Trump administration pulled out of the 2015 nuclear deal that Iran signed with world powers, under which it agreed to curb its nuclear programme in exchange for the lifting of worldwide sanctions.

Britain, France, Germany, Russia and China, which were also parties to the 2015 accord, have said that they will set up a new payments system to maintain business links with Iran and bypass U.S. sanctions.

Pompeo did not name the countries to be exempted, except to say that the European Union was not among them.

The US treasury secretary, Steven Mnuchin, also announced that Swift, the private financial messaging service that allows banks to communicate securely, would also be subject to sanctions.

India can make it even easier to do business
Four African economies - Togo, Cote d'Ivoire, Kenya and Rwanda - are among the top 10 most improved economies globally. The country is said to have made starting a business easier by reducing the time needed to obtain a business licence.


According to Trump's tweet, the White House will reportedly address reimposing Iran sanctions, which were previously lifted by President Obama as part of the Iran nuclear agreement in 2015, on Monday.

Another problem is that the product used in the SPV to trade with Iran may also violate secondary sanctions, says Leigh Hansson, head of global trade and national security at Reed Smith. The move, which is conveniently set to take place one day before midterm elections, is the Trump administration's latest affront to Tehran after leaving the Iran nuclear deal in May.

These eight countries are among the top 20 oil importers from Iran, he told reporters.

As a result, sanctions lifted by the U.S. and others in 2016 are now being unilaterally re-imposed by the United States.

Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said on Saturday the United States has been trying for the past 40 years to regain the domination it had over Iran under the Shah but to no avail.

The oil market ran higher in anticipation of this week's formal re-imposition of sanctions against Iran by the United States, and on concerns that supply from producers like Saudi Arabia would not be able to make up the difference.

"The United States remains open to reaching a new, more comprehensive deal with Iran that forever blocks its path to a nuclear weapon, addresses the entire range of its malign actions, and is worthy of the Iranian people", Trump said.

The agreement saw Iran limit its controversial nuclear activities in exchange for sanctions relief. "Iran's oil exports are decreasing and difficulties paying Iran for oil with hard currency are evident".

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