The United States Monday unwrapped a first wave of awaited sanctions against Iran as pressure to force the Islamic Republic negotiate a new nuclear deal that suits the terms of conditions of the White House. The sanctions had been much awaited after US President Donald Trump in May withdrew the United States from the 2015 multinational nuclear accord signed between Iran and World powers, during the Obama era. If Iran does not succumb to the new sanctions, Washington will in November 5 announce a second of wave of sanctions that will target Teheran’s oil exports. “We are determined to protect European economic operators engaged in legitimate business with Iran,” said Federica Mogherini, Chief of the European Union’s diplomacy. The sanctions increasingly will deter European companies to do business in Iran with the weak Iranian currency which constitutes a business opportunity for companies covered by the European bloc.

Source: The North Africa Journal August 07, 2018 15:33 UTC