The second phase of the sanctions US President Donald Trump will implement following his unilateral withdrawal from a nuclear deal with Iran will start tomorrow (October 5th).
Following the announcement by Trump that USA would withdraw from the agreement, the US Treasury Department had announced that the sanctions against Iran would begin to be reinstated in two stages, namely 90 and 180 days.
In this context, the first stage sanctions had gone into effect after 90 days, on 7 August. The second stage sanctions is due to start at 08:00 CET tomorrow following expiration of the 180-day deadline.
Based on data provided by the US Treasury Department, the sanctions to begin on 5 November are composed of 6 items.
Sanctions on Iran’s port operators, shipping and shipbuilding sectors (and the relevant organizations).
Oil-related transactions including the National Oil Company of Iran (NIOC) and the National Tanker Company (NITC) – international restrictions on the purchase of oil, petroleum products or petrochemical products from Iran.
Transactions of foreign financial institutions with the Iranian Central Bank and certain Iranian financial institutions, while Article 4 also includes prevention of financial message services to the Iranian Central Bank and some Iranian financial institutions.
Sanctions 5 and 6 impose restrictions on intermediary and insurance companies and Iranian energy sector.
In a statement he made following withdrawal of USA from nuclear agreement US secretary POMPEO had emphasized the need to make a new agreement with Iran and introduced a 12 item requirement list – consisting of quite heavy stipulations against Iran.
