Published: Tue, August 07, 2018
World Media | By Cesar Oliver

Iran sanctions: Trump warns trading partners

Iran sanctions: Trump warns trading partners

President Donald Trump's top security adviser on Monday urged Iran to take up an offer of talks with the United States or suffer more pain from economic sanctions, but Iran's president said Washington needed first to prove it can be trusted.

Trump said the new sanctions target the Islamic Republic's automotive sector, its trade in gold and other precious metals, along with its currency, the Iranian rial, and other financial transactions.

Some re-imposed sanctions took effect overnight and tougher ones relating to oil exports will begin in November.

Hours before revived United States sanctions were due to kick in, White House national security adviser John Bolton said Iran should pay heed to Trump's willingness to negotiate.

The US sees the sanctions "as a tool to pressure Iran to come back to the negotiating table to rehash the nuclear deal on terms more to Trump's liking".

The European Union, which remains a supporter of the three-year-old nuclear pact with Iran, said it is taking counter-measures to blunt the impact of the sanctions Trump has reinstituted.

Trump decided this year to pull out of the agreement, ignoring pleas from the other world powers that had co-sponsored the deal, including Washington's main European allies Britain, France and Germany, as well as Russian Federation and China.

The "Trump Administration wants the world to believe it's concerned about the Iranian people", Iranian foreign minister Mohammad Javad Zarif said in a statement posted to Twitter.

President Trump said on Monday the U.S. was "fully committed to enforcing all of our sanctions" and would aim "to ensure complete compliance".

Mr Trump has called the deal "one-sided", "disastrous" and the "worst I've ever seen".

"We have ceased our already restricted activities in Iran in accordance with the applicable sanctions", said German auto and truck manufacturer Daimler.

"The E.U.is morally bankrupt, and we need to remember that next time they try to lecture us", Mr. Erdan told Israel Radio.

Iranian President Hassan Rouhani, in a speech broadcast on state television, said the United States can not be trusted because it withdrew from the worldwide pact, whose other signatories still support it.

"Anyone doing business with Iran will NOT be doing business with the United States", the president tweeted.

Other countries have also asked European Union officials for details on the blocking regulations, as they explore ways to bypass sanctions.

They were previously relaxed under the 2015 Iran nuclear deal. "But if the government has a serious plan they can control the situation".

He said Washington was becoming isolated internationally and would come to regret imposing sanctions against the views of its allies and other world powers.

But the European Commission has implemented a previously unused regulation that seeks to cancel the effect of the USA policy on European companies doing "legitimate business" with Iran.

Israeli Prime Minister Benjamin Netanyahu, like Trump a long-time opponent of the accord, congratulated him on the new sanctions.

"They want to launch psychological warfare against the Iranian nation", Mr Rouhani said.

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