These sanctions, which are being reimposed following Trump withdrawal from the nuclear deal earlier this month, are some of the strictest in US history. In fact, they’re the ones that were in place between 2012 and 2016 to force Iran to come to the negotiating table over its nuclear weapons programme.
The sanctions will allow current Iranian oil customers to withdraw slowly – a reduction every six months set by the US government – so that they can find a new source without dramatic rises in the cost of oil
Companies now have until November 4 to begin implementing this strategy.
If any bank, company or country violates these sanctions, the US will impose stiff fines on them. Therefore, it effectively cuts Iran off from the global financial market; a failure for the Iranian Regime.
Even China and India who bought Iranian oil under the previous rounds of sanctions – using their own currency so as not to attract the US’s attention – seem reluctant to do so this time.
ome Asian customers who had seen Trump’s constant promises about the Iran deal actually began reducing their Iranian oil supplies in January, way before Trump’s announcement.
Why sanctions are right
Sanctions are the best way to deal with the Iranian Regime as it cuts off their main source of cash. This money has not gone to help the Iranian people by providing government-funded healthcare or reducing unemployment.
Instead, it has been used to fund the Iranian Regime malign expansionism, which takes on many different forms from funding terrorist cells to interfering in the elections of neighbouring states to propping up the Bashar Assad dictatorship in Syria.
The Iranian Regime has also used this money to fund their suppressive security forces, including the Revolutionary Guards Corps (IRGC), who routinely target the Iranian people for real or perceived opposition to the Regime.
By cutting off this money, the US can reduce the amount that Iran will spend or wars and suppression and increase the chance that the Regime will be overthrown by the people.
Shortly before issuing this executive order, Trump withdrew from the nuclear deal, officially known as the Joint Comprehensive Plan of Action (JCPOA), citing its inability to keep the US and its allies safe as well as its failure to address other pressing problems with the Iranian Regime, like its regional aggression.