Published: Mon, November 05, 2018
Global Media | By Garry Long

Mike Pompeo Warns Sanctions on Iran Will Be the ‘Toughest’ Ever

Mike Pompeo Warns Sanctions on Iran Will Be the ‘Toughest’ Ever

But Trump's announcement in May helped fuel a run on Iran's currency that has seen the rial lose more than two thirds of its value, driving up prices and forcing the government to resort to food handouts for the country's poor.

Experts and analysts, however, say the USA government is delusional in its plans because the sanctions will neither alter Iran's role in the Middle East, nor weaken the country.

"Watch what we do".

Global benchmark Brent crude had fallen about 15 per cent from over $85 a barrel in October on speculation that some nations would get waivers, as well as signs that other Opec members would pump more to offset any supply gap.

The US reinstated a raft of sanctions in August, but analysts say this latest round is by far the most significant.

"I am very confident that the sanctions that will be re-imposed this Monday, not only the crude oil sanctions, that the financial sanctions that are being put in place by the Treasury Department and over 600 designations of individuals and companies in Iran will have the intended effect to alter the Iranian regime's behaviour". That's our expectation. It's the reason for President Trump's policy. China, India, South Korea, Turkey, Italy, the United Arab Emirates and Japan have been the top importers of Iran's oil, while Taiwan occasionally buys cargoes of Iranian crude but is not a major buyer.

Before travelling to a campaign rally for the United States mid-term elections, President Donald Trump said Iran was already struggling under his administration's policies.

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On Sunday, Secretary of State Mike Pompeo appeared on "Fox News Sunday".

While Chief Cabinet Secretary Yoshihide Suga declined to detail any potential sanction waivers, he said his government had asked Washington that sanctions should not have an adverse impact on Japanese companies. He said that two of the countries will be bringing their Iran oil imports to zero, but just needed some more time to wind down. However, Mr. Trump's personal lawyer Rudy Giuliani and John Bolton, the President's national security adviser, both have made public statements supporting overthrowing Iran's theocratic government. Demonstrations also were held in other Iranian cities, The Associated Press reported.

President Trump's decision to withdraw the USA from the 2015 nuclear agreement has been widely condemned by the worldwide community.

He added that Iran must meet 12 demands in order to see the sanctions lifted, including ending its support of its terror proxies in Syria and stopping its nuclear and ballistic missile development.

Iran has dismissed these charges and continues to keep its stand that its nuclear programme is for peaceful purposes.

France, Germany, Britain, and the European Union issued a joint condemnation Friday of the U.S. move, vowing to protect European companies doing "legitimate" business with Tehran.

They have promised to support European firms that do "legitimate business" with Iran and have set up an alternative payment mechanism - or Special Purpose Vehicle (SPV) - that will help companies trade without facing U.S. penalties.

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