It is somewhat challenging for Irans as the Biden administration toll forward to impose financial penalties as a form of sanction against Iran. This, the administration vowed to do so as to severely restrict Iranian oil and petrochemicals.
The Iran oil sanction: announcement
Several companies were targeted as the measures were announced. The united states accused China, the United Arab Emirates, India and Hong Kong of being involved in the sale of Iran oil and petrochemicals. The measures announced did not elude these countries mentioned.
There was an express link by joe Biden between the sanctions the revival of the 2015 Iran nuclear deal. The united states treasury department official Brian nelson opines that the US is committed wholeheartedly to restricting the illicit Iran oil and petrochemicals.
This action holds for as long as Iran refuses a mutual return to the complete implementation of the JCPOA (joint committee plan of action).
Iran company assets in the united states are frozen because of the penalties. The country made it illegal for the united states of American citizens to go into any form of business with them.
During this period, the former united states president withdraws from a nuclear deal. Numerous Iranian economic sectors have been under strict sanctions that cannot be tackled.
Since there were strict sanctions, Irans improved themselves in its nuclear programme to include the enrichment of uranium. The action Irans take is beyond its limits as they have the agreement they have made beforehand.
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Iran oil: Iran is desperate
Iran was seen to scale back its nuclear programme for the united state’s sanctions to be removed. This is because the sanction has handicapped its economy, nevertheless, they are trying their best to revive the deal but all efforts on it are delayed.
Iran oil: On Thursday
Biden opined that the country will continue to enforce sanctions until Iran returns to the agreement.
The united states department of treasury opines that as Iran tolls to push forward its nuclear programme, it will accelerate the enforcement of sanctions on Iran’s oil and petrochemicals. The major reason for their sanctions is because they violated JCPOA which full meaning is a joint committee plan of action.
He continued by saying that the US has the aim to completely restrict Iran’s oil and petrochemicals. This they say will happen on regular basis. Washington and Tehran have been blamed after numerous indirect nuclear talks for the failure to restore the deal.
It is left to Iran to decide maybe it wants to return to the pact says united states officials. Again, Washington’s unwillingness to give a solution to the sanction is the main problem because it is preventing them from returning to the JCPOA. This statement was said by Tehran.
Biden speech: Last week
Biden, the president of the united states gave a speech last week, he started by saying Washington is prepared to return to the deal. He disagrees with Tehran to have a nuclear weapon which Iran says they are not even seeking.
Biden speech: Iran protest
He continued by saying the death of Masha Amini who was arrested in Tehran for unsuitable attire as sparked a high protest earlier this month.
Washington is still willing to restore the nuclear deal based on mutual compliance, however, Washington expressed its support for the demonstrators in the protest.
It is somewhat an unhappy scenario to see that sanctions have been placed on Iranian oil and petrochemicals. The administration of the united state plans to place financial penalties as a form of sanction against Iran.
The united states accused China, the United Arab Emirates, India and Hong Kong of being involved in the sale of Iran oil and petrochemicals. Nevertheless, the sanction is also placed on the listed countries.
This action holds for as long as Iran refuses a mutual return to the complete implementation of the JCPOA (joint committee plan of action). Also, the president, Biden opined that the country will continue to enforce sanctions until Iran returns to the agreement. Iran’s economy is being affected as Iran’s company assets in the united states are frozen because of the penalties.
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