Friday Secretary of State Mike Pompeo and Secretary of Treasury Steve Mnuchin briefed the press via teleconference on the Trump Administrations steps to impose sanctions on Iran.
In his opening remarks Pompeo announced that November 5th, 2018, “the United States will reimpose sanctions that were lifted as part of the nuclear deal on Iran’s energy, ship building, shipping, and banking sectors. These sanctions hit at the core areas of Iran’s economy. They are necessary to spur changes we seek on the part of the regime.”
He continues to explain that the Trump Administration expects “to issue some temporary allotments to eight jurisdictions, but only because they have demonstrated significant reductions in their crude oil and cooperation on many other fronts and have made important moves towards getting to zero crude oil importation.” Pompeo adds that the negotiations are “ongoing.”
Mnuchin told reporters during the same teleconference call that despite reporting otherwise SWIFT, the financial messaging system used for international banking transactions, “will be subject to sanctions,” he added, “there are exceptions for humanitarian sanctions,” Mnuchin did stress that people, “need to be careful that those are real humanitarian – those are real humanitarian transactions.”
Bloomberg is reporting that Japan, India, and South Korea are among the countries that will “keep buying Iranian oil,” after the sanctions are reimposed. The article goes on to say that China, “according to two people familiar with the discussions,” are among the eight countries that will receive an exemption. The article adds that China is still discussing terms with the U.S.
Turkey’s Energy Minister Faith Donmez, is said by Bloomberg to have told reporters Friday, that it’s expected that Turkey will be among those countries getting an exemption.
The Washington Post reported Friday, that although the sanctions will be restored, Iran, “will still be able to purchase goods such as food, agricultural commodities, medicine and medical devices.”
President Trump weighed in via Twitter @ 12:01 Friday.
— Donald J. Trump (@realDonaldTrump) November 2, 2018
The waivers are only temporary according to the two Secretaries.