Trump warns countries against doing business with Iran

President Donald Trump has warned that countries doing business with Iran will “NOT be doing business with the United States” as his administration reimposed sanctions on Iran Tuesday.
In an early morning tweet, Trump described the measures as “the most biting sanctions ever” and warned they would “ratchet up to yet another level” in November, when US sanctions on Iranian oil will be reimposed.
“I am asking for WORLD PEACE, nothing less!” Trump added.

Trump’s warning appeared to be aimed at the European Union, which is attempting to protect European businesses trading in Iran from facing US sanctions.

US sanctions are being unilaterally reimposed on Iran in waves following Trump’s decision to withdraw from the Iranian nuclear deal earlier this year.
The deal, officially titled the Joint Comprehensive Plan of Action, or JCPOA, is a landmark agreement to restrict Iran’s nuclear program in return for the lifting of international sanctions.

Orchestrated by the Obama administration, it was signed by Iran, some European countries, China and Russia in 2015.
Trump has long been a fierce critic of the deal, calling it “insane” and maintaining that, even with the current restrictions in place, Iran continues to pose a threat to the US.
In May, the US pulled out of the deal, with the first round of sanctions reimposed on Tuesday. They affect, among other things, the purchase or acquisition of US dollars by the Iranian government, the country’s auto industry and trade in gold or precious metals.
The second phase of US sanctions will come into effect in November and will target Iran’s crucial oil industry.
Iranian President Hassan Rouhani described the sanctions as “pyschological warfare” on Monday but said Iran was willing to hold talks with the US to resolve the matter.

Europe moves to shield businesses

On Tuesday, Europe launched an updated version of its “Blocking Statue” in an effort to protect EU companies doing business in Iran from being sanctioned by the US.
Despite the measures, businesses already adverse to operating in uncertain climates are likely to be even less inclined to trade with Iran amid the threat of punitive US measures.
On Tuesday, German carmaker Daimler announced it had suspended its activities in Iran “until further notice according to applicable sanctions.”
The company — which makes Mercedes-Benz cars — has not sold cars in Iran since 2010, but in 2016 had announced plans to return to Iran after economic sanctions were lifted.

Source » cnn

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