Renewed US sanctions set to curb Iran steel, metals, minerals trade

The Grand Bazaar in Tehran Iran

The Grand Bazaar in Tehran Iran

However, reports from Iranian Resistance groups regarding the past several months of domestic protests suggest that this is exactly the outcome that is being sought by much of the activist community.

Even though Iran's steel traders have in the past lived with sanctions and do not typically use letters of credit, a London-based trader indicated in early August he was not optimistic about the new Iran steel trade scenario and said he would monitor the situation in coming months.

Instead, Iran hopes to improve relations with Europe, who it hopes will fearless United States sanctions to continue to buy its oil.

US President Donald Trump pulled out of the 2015 deal in May.

In short, Trump withdrew from the Iran deal, likely imposed tremendous cost and stress on Tehran's economy, and Iran has responded by staying in the deal and trying to portray itself as a good actor worthy of the world's support against USA hegemony.

Starting this week, Washington will re-impose sanctions on Iran's purchases of USA dollars, its trade in gold and precious metals, and its dealings with metals, coal and industrial-related software.

And John Bolton, the president's national security adviser, is a well-known Iran hawk who has advocated for regime change.

Already facing broad economic fallout as their currency implodes, Iranians are wondering how the next phase of the crisis in US relations will play out - and what, exactly, America's long-term strategy is toward their country.

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He went on to condemn failures to fully implement the Joint Comprehensive Plan of Action (JCPOA) agreement in the commercial, economic and banking sectors and said: "Today, we are in a very critical point in history regarding the Joint Comprehensive Plan of Action (JCPOA) and Europe's transparent measures to compensate for the US' unlawful withdrawal from the deal is very important for the Iranian nation".

The exercise could shut down of the Strait of Hormuz, a crucial Gulf passage for shipments of numerous commodities.

Qabel said elsewhere in his sermon, "The U.S. president is a liar and tells seven lies every day". It could be hard especially "any direct and indirect trade of steel is under the secondary sanctions of the United States and some importers may prefer to switch to the other suppliers to avoid this risk", he said.

Hundreds rallied in cities including Tehran, Karaj, Shiraz, and Qom, according to videos posted on social media, to protest against high inflation, caused in part by a collapse in the rial currency over fears of the reimposition of crippling sanctions.

Nevertheless, Iranians have been demonstrating since December 2017 against the high cost of living and the systematic corruption within the system.

The contents of Friday Prayer sermons are coordinated at the Friday Prayer Headquarters, a body affiliated with the office of Iranian Supreme Leader Ayatollah Ali Khamenei.

The authenticity of the videos could not immediately be verified. Some protesters have shouted "Mullahs get lost!" and "Death to the dictator!" the semi-official Fars news agency has reported.

The report said a protest was taking place in Karaj, 50 kilometers (30 miles) west of Tehran, when someone fired from a auto.

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