You are here: Home » International » News » Economy
Business Standard

With sanctions set to return, Trump says US open to new deal with Iran

Our objective is to force the regime into a clear choice, said Trump in a statement released by the White House

Joshua Gallu | Bloomberg 

Donald Trump
US President Donald Trump. File Photo: Reuters

President said the US remains open to reaching a comprehensive deal with that blocks its nuclear-weapons programme, just days before sanctions on the country’s energy and shipping sectors kick back in.

“Our objective is to force the regime into a clear choice,” Trump said in a statement released by the on Friday evening, referencing the resumption of sanctions on Monday. “Either abandon its destructive behaviour or continue down the path toward economic disaster.”

He added that the penalties were aimed at the Tehran government, “not at the long-suffering Iranian people.”

“For this reason,” Trump said, “we reiterate today that the sale of food, medicine, medical devices, and agricultural commodities to has long been, and remains, exempt from the sanctions.”

Trump’s decision to withdraw from the 2015 nuclear agreement infuriated as well as the other countries that negotiated the deal and who still say it’s the best chance to constrain the Islamic Republic’s nuclear ambitions. But the US has rebuffed them and gone ahead with its sanctions plan, arguing that nations, banks and businesses worldwide will decide they’d rather do business with the US than Iran.

The administration’s strategy is to punish Iran so severely that it’s compelled to negotiate a permanent end to its nuclear ambitions as well as what the US calls its “malign behaviour” in the

“The United States remains open to reaching a new, more comprehensive deal with Iran that forever blocks its path to a nuclear weapon, addresses the entire range of its malign actions, and is worthy of the Iranian people,” Trump said in the statement.

said earlier Friday that the US would grant eight temporary waivers for countries to keep importing Iranian after sanctions snap back on Monday.

ALSO READ: I spoke with President Xi, I think we'll make a deal with China: Trump

The decisions on waivers is part of the administration’s balancing act to get tough on the Iranian government while also trying to ensure that global prices don’t soar.

But Pompeo and Treasury Secretary Steven Mnuchin have also had to fight a rearguard action against hard-liners in the administration including John Bolton, the Bolton has argued that the waivers -- and a decision not to bar Iranian banks from the global Swift financial messaging system -- were too generous toward Iran, according to a person familiar with the administration’s internal debate.

A senior administration official said Japan, India and South Korea were among those getting waivers. China -- the leading importer of Iranian -- is still in discussions with the US on terms, but is among the eight, according to two people familiar with the discussions who also asked not to be identified. Others could include Taiwan and Turkey.

The as a whole won’t get a waiver, Pompeo said.

After Trump withdrew from the nuclear accord, European governments vowed to try to preserve the agreement and find ways to continue trading. The region’s intake of Iranian crude has nonetheless wilted. Companies like and Royal Dutch Shell Plc have halted purchases because the risk of being frozen out of the US financial system is simply too great.

In a joint statement on Friday, the European Union’s high commissioner and the finance and foreign ministers from the UK, Germany and France said they “deeply regret the further re-imposition of sanctions by the United States.” They said they will work “to protect European economic operators engaged in legitimate business with Iran,” including preserving “effective financial channels” and continuing “Iran’s export of

Global benchmark Brent crude has fallen about 15 per cent from more than $85 a barrel last month on increasing speculation that at least some nations would get waivers, as well as signs that other members will pump more to offset any supply gap.

First Published: Sat, November 03 2018. 12:41 IST