On Monday, the US sanctions against Iran, targeting currency transfers, trade in precious metals, and Iranian exports, came into play and they’ve already rocked the world.
The EU, who have been trying to bring the US back to the negotiating table since May, has announced heavy restrictions on European companies that wish to pull out of Iran to avoid US penalties, and even announced that the companies could sue the US for lost profit, but the fact is that this will not work. Most companies have already pulled out or announced plans to pull out of Iran, including France’s Renault.
The EU may be desperate to keep the Iran deal alive, but they can’t avoid the pressure from the US. That’s why Germany’s central bank blocked Iran from withdrawing 300 million Euros in cash from a Hamburg-based Iranian-controlled bank last week – a desperate attempt to prop up the Regime with an influx of cash.
But Iran should know that this is only the beginning. In November, the really heavy US sanctions, which target Iran’s oil industry, come into force. Iran’s oil exports will be cut dramatically and Donald Trump wants them down to zero, which will really damage the Iranian economy.
The Regime hoped that Trump’s tough rhetoric would be enough to convince the Iranian people that America is “the great Satan”, but the people hear the US administration supporting their protests and they like that. Even those from within the Regime’s key supporter base, are coming out to protest the corruption of the mullahs.
Moreover, the people are not opposed to returning sanctions as the wealth never trickled down to them in the first place. They see that sanctions hurt the Regime, not the people.
The world’s media should not ignore this powerful call for change, led by the Iranian people. This is the great chance for peace and stability in the Middle East, where for so long the Regime has driven terrorism and warfare.
Luckily, the Trump administration recognises the Iranian people and their right to protest. Trump tweeted this back in January, when the uprising began, but Secretary of State Mike Pompeo tweeted just this Sunday that he backed “the Iranian people’s right to protest against the regime’s corruption & oppression without fear of reprisal”.
Regime change may be a long and costly process, but it is worth it to remove a regime committed to the violation of human rights and terrorism.