Harsh US Sanctions to Have Limited Effect on Iran?

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Harsh US Sanctions to Have Limited Effect on Iran?

by Stephen Lendman (stephenlendman.orgHome – Stephen Lendman)

For nearly 40 years since the Islamic Republic’s 1979 revolution, ending a generation of US-installed fascist tyranny, Iran withstood the effects of multiple rounds of illegal US sanctions.

This time will likely be no different, Iran seeking ways to overcome unacceptable Trump regime harshness against the country – perhaps in the end to have only a modest effect, far short of US aims.

On Saturday, Iranian Foreign Minister Mohammad Javad Zarif discussed new US sanctions on its energy energy sector, petroleum related products, as well as central bank and other financial transactions with EU foreign policy chief Federica Mogherini, German Foreign Minister Heiko Maas, Denmark’s Foreign Minister Anders Samuelsen, and Swedish Foreign Minister Margot Wallstrom, saying:

“The possibility that the US will be able to achieve its economic goals through these sanctions is very remote, and there is certainly no possibility that it will attain its political goals through such sanctions.”

Iran’s Mehr News reported the following:

“Mogherini and three European foreign ministers emphasized their commitments to the JCPOA and efforts to maintain effective financial channels with Iran, as well as the continuation of Iranian oil and gas exports,” adding:

“They also highly regarded the commitment of finance ministers, in addition to the foreign ministers of the three European countries and other members, for the implementation of Special Purpose Vehicle, announcing that the mechanism will be officially in place in the coming days.” 

It’ll let Iran bypass the Society for Worldwide Interbank Financial Telecommunication (SWIFT) financial transactions system to continue financial transactions with EU countries unobstructed.

In a joint statement on Friday, Mogherini, along with German, French, and UK foreign ministers together with other EU officials, announced their intention to continue “engag(ing) in legitimate business with Iran,” expressing support for the JCPOA nuclear deal, adding:

“(W)e have committed to work on…the preservation and maintenance of effective financial channels with Iran, and the continuation of Iran’s export of oil and gas” – together with Russia and China.

On Friday, Russia’s Energy Minister Alexander Novak said the Kremlin will continue working cooperatively with Iran, including with its energy trade, adding:

It’s committed to “preserv(ing)” and “maintain(ing) effective financial channels with Iran, and the continuation of Iran’s export of oil and gas.”

“We do not recognize the sanctions introduced unilaterally without the United Nations (Security Council). We consider those methods illegal per se.”

On Friday, Iranian Foreign Ministry Spokesman Bahram Qassemi said “(t)here is no room for any concern. We should wait and see that the US will not be able to carry out any measure against the great and brave Iranian nation.”

“It seems that the US has no more capability to put countries and global economic enterprises under pressure.”

Washington granted eight countries waivers to keep buying Iranian oil. What a US source called temporary could become permanent ahead.

The unnamed countries are believed to include China, India, Turkey, Japan, South Korea and Italy.

On Friday, Trump regime Treasury Secretary Mnuchin said  all sanctions lifted under the JCPOA will be reimposed on Monday, November 5 – unilaterally and unlawfully, he failed to explain.

Around 700 Iranians will be blacklisted, sanctions also targeting financial transactions through the EU’s Special Purpose Vehicle to let Tehran bypass SWIFT.

“SWIFT is no different than any other entity,” said Mnuchin, adding: “We have advised SWIFT that it must disconnect any Iranian financial institutions that we designate as soon as technologically feasible to avoid sanctions exposure.”

Will Trump regime “maximum pressure” on Iran work, given world community opposition to its unilateral and unlawful actions?

For decades, hostile US actions against the Islamic Republic failed. If past is prologue, the same is likely ahead – despite likely all-out Trump regime efforts to impose harshness on the country.

A Final Comment

Former Iranian diplomat Seyed Hossein Mousavian believes harsh Trump regime sanctions on the Islamic Republic will fail, saying:

“Iran is the most experienced country in the world (at) handling sanctions. I don’t believe any other country in this region has the experience, capacity or scale to resist against sanctions.”

Nor will US sanctions deter the country’s legitimate development  of defensive weapons, or its regional activities with other nations, Mousavian believes – including its involvement in helping Damascus combat US-supported terrorists.

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Stephen Lendman
Stephen Lendman
Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or archived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.