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TOP STORIES
Most Western companies and banks pulled out of Iran
ahead of new Trump administration sanctions, fearing a loss of access
to the U.S. economy. But the rest of the world may be more difficult
for American officials to convince. Facing a host of nations reluctant
to back Washington's pressure campaign, the administration says it is
on high alert, ready to punish those that don't comply.
Although Iran and the other parties to the 2015 nuclear
deal (France, Germany, the U.K., the European Union, China and
Russia) remain committed, fear of violating the sanctions and losing
access to the world's biggest economy has forced major multinationals
in and outside the U.S. to forgo lucrative projects in Iran.
More Iranians are using social media to vent anger at
what they see as the corruption and extravagance of a privileged few,
while the majority struggles to get by in an economy facing tighter
U.S. sanctions.
UANI IN THE NEWS
The criticism was more blunt from United Against Nuclear
Iran, an outside group chaired by former Connecticut Senator Joe
Lieberman that has advocated a tough stance. "Widespread waivers
granted under Iran sanctions. Whatever happened to maximum pressure?
They caved. Big time," read a Nov. 2 tweet from UANI.
Another supporter of tough Iran sanctions, U.S. advocacy
group United Against Nuclear Iran (UANI), says it sees an imminent
end to temporary U.S. waivers granted to eight governments to keep
buying Iranian oil without facing U.S. penalties.
Former Sen. Joseph Lieberman now heads a group called
"United Against Nuclear Iran." Along with the group's CEO
Mark Wallace, he released a statement lauding the tough new
sanctions. "UANI applauds the Trump Administration for
re-imposing sanctions against Iran, which includes more than 700
entities, banks and individuals," said a statement issued
yesterday.
SANCTIONS, BUSINESS RISKS, & OTHER ECONOMIC
NEWS
The top U.S. diplomat has granted an exception to
certain U.S. sanctions that will allow the India-led development of a
port in Iran as part of a new transportation corridor designed to
boost Afghanistan's economy, a State Department spokesman said on
Tuesday.
India aims to sign an initial agreement with Iran this
month to settle all their oil trade in rupees through India's UCO
Bank, two Indian government sources said.
Japan, South Korea and other major oil importers
welcomed Tuesday the decision by the Trump administration to let them
continue to import Iranian crude oil and other petroleum products
despite the re-imposition of sanctions on Tehran.
The United States government is preparing more sanctions
against Iran, national security adviser John Bolton told Fox Business
News, commenting on what the current sanctions have already helped
Washington accomplish, and what the ultimate goal is.
Turkey's President Recep Tayyip Erdogan said Tuesday
that his country would ignore sanctions the U.S. introduced against
Iran this week-a defiant tone that could complicate Ankara's recent
efforts to defuse tension with Washington.
Russian Foreign Minister Sergei Lavrov said on Tuesday
that U.S. sanctions on Iran were not legitimate, in Moscow's first
official comment since Washington restored sanctions on Tehran.
Lavrov said Moscow, itself a target of separate U.S. sanctions,
expected there would be ways to pursue economic cooperation with Iran
despite the reimposition of sanctions on Monday on the country's oil,
banking and transport sectors.
France has vowed to press ahead with plans to flout
Washington's Iran sanctions and boost the international role of the
euro as it moves to lead Europe in defying US efforts to act as the
world's "trade policeman."
Iraq plans to increase its oil output and export
capacity in 2019, with a focus on its southern oilfields, and is
close to reaching a deal with international companies, Oil Minister
Thamer Ghadhban said on Tuesday. The new minister also said the
shortfall in oil supply caused by new U.S. sanctions on Iran had yet
to be gauged before Iraq and other OPEC members could decide what
action to take ahead of their policy meeting next month.
Iran's oil minister said on Tuesday that U.S. sanctions
on Iranian crude exports mean difficult days for oil consumers
worldwide, adding that waivers issued by Washington to eight
importing countries will not satisfy market demand.
Iranian officials vowed that their nation would weather
the impact of bruising new U.S. sanctions, but offered no plan of
action to back up their defiant words.
No, the laws of supply and demand haven't been suspended
when it comes to oil and Iran. The 15% plunge in Brent crude futures
in the past month, coming ahead of Monday's reimposition of sanctions
on oil exports, makes sense. What comes next is a lot more
complicated.
On October 16, the U.S. Treasury designated 20 Iranian
entities. Using the anti-terrorism authorities under Executive Order
13224, Treasury designated companies connected to the Basij Resistance
Force, a volunteer paramilitary organization subordinate to Iran's
Islamic Revolutionary Guard Corps (IRGC). In line with previous
studies and expectations, the designation caused measurable economic
loss to the target firms.
Iran said on Tuesday it had so far been able to sell as
much oil as it needs despite U.S. pressure, but urged European
countries that oppose the U.S. sanctions to do more to shield
Iran.
The Trump administration has dropped the hammer,
officially putting sanctions on Iran's oil exports. Why, then, might
Iran's oil exports actually increase in the near future?
Iran's oil minister has written a letter to the OPEC
chief, asking that the so-called Joint Ministerial Monitoring
Committee - which consists of all OPEC and non-OPEC countries - be
dissolved because of its stance on the newly re-imposed U.S.
sanctions on Iran.
TERRORISM & EXTREMISM
Three members of an Iranian opposition group were
arrested Wednesday on suspicion of having praised those behind a
Sept. 22 terror attack in Iran that killed at least 25 people.
Denmark's arrest of a Norwegian national of Iranian
descent on suspicion of helping prepare assassinations of Iranian
Arab separatists has put the administration of President Hassan
Rouhani under pressure at a time when it is reeling from US sanctions
both at home and abroad.
PROTESTS & HUMAN RIGHTS
Iran's judiciary convicted at least 24 protesters,
including two women, on vaguely defined national security charges,
Human Rights Watch said today.
U.S.-IRAN RELATIONS & NEGOTIATIONS
Democrats will use their new majority in the US House of
Representatives to reverse what they see as a hands-off approach by
Republicans toward President Donald Trump's foreign policy, such as
revising the stand on Iran, and push for tougher dealings with
Russia, Saudi Arabia and North Korea.
IRANIAN REGIONAL AGGRESSION
Egypt's President Abdel Fattah al-Sisi warned his
Iranian counterpart Hassan Rouhani his country is ready to come to
the defence of Gulf Arabs if they threatened - raising the prospect
of a dangerous regional conflict which could escalate alarmingly.
RUSSIA, SYRIA, ISRAEL, HEZBOLLAH, LEBANON & IRAN
The dispute that had recently erupted between the Free
Patriotic Movement (FPM), founded by Lebanese President Michel Aoun,
and the Hezbollah party has sparked speculation that their 12-year
alliance was close to crumbling.
IRAQ & IRAN
The Lebanese Hezbollah party has been interfering in
internal political affairs in Iraq, especially recent government
formation efforts.
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