As you probably know, a couple of weeks ago, the United States imposed a new round of sanctions on Iran. International experts say that the package includes 700 new points, including an embargo on the import of crude oil from Iran. It's interesting to note that the sanctions will touch upon some other states as well. Some temporary exception are said to have been maid for 8 partners of the USA.
Later on, the interbank system called SWIFT may find itself in jeopardy as well. This may also concern the EU companies working with Iran. Under such circumstance, the oil trade agreement between Russia and Iran may gain a new life. The agreement was signed in 2014.
According to the U.S. Secretary of the State, the new round of sanctions is aimed at Iran's energy sector. Previously the two sides agreed and signed a nuclear deal, according to which Iran promised to cancel its nuclear program in exchange for getting rid of the sanctions. Now, the USA claims that Iran has secretly violated the deal, which is why it's time to reintroduce the sanctions and even toughen them. On top of that, extra sanctions will be imposed on Iran's shipbuilding, cargo, and banking sectors, which are some of the key sectors of the Iranian economy.
At the same time, the U.S. Secretary of the States underlines the fact that the sanctions are aimed at the Iranian government, not the Iranian people struggling under the current political regime. With that being said, Washington is going to make a number of humanitarian exception to those sanctions.
Not so long ago, John Bolton, Donald Trump's national security advisor, told the reporters about the consequences of the first round of sanctions imposed on Iran in August 2018. He claims that the sanctions crashed the Iranian national currency and economy, which launched a number of prostest all over the country.
Washington Wants Zero Oil Export From Iran
International experts claim that Washington's primary goal is to reduce the Iranian oil export to nothing. In particular, NordFX experts assume that the USA's decision to impose a new round of sanctions on Iran triggered a new price rally in the oil market from 70 dollars per barrel in early May all the way up to 86 dollars per barrel in early November.
At the same time, the Iranian government urges the people to stay calm and ignore the threats since non of the goals set by Washington is not going to be fulfiled. They say Iran is ready to live under such pressure even though that those sanctions cannot last long without affecting the Iranian economy. However, the government has promised to do their best to overcome the difficulties and revive the economy.
