Iran Economy NewsUS warns firms against breaking Iran sanctions

US warns firms against breaking Iran sanctions

-

AFP: Iran is still a “perilous” place for foreign companies to do business because of sanctions unaffected by the recent interim nuclear deal, a senior US administration official said on Wednesday during a visit to Rome.

 

Rome (AFP) — Iran is still a “perilous” place for foreign companies to do business because of sanctions unaffected by the recent interim nuclear deal, a senior US administration official said on Wednesday during a visit to Rome.

The six-month agreement only provides for the easing of limited sanctions and the unblocking of some frozen Iranian assets abroad and foreign firms should not “over-interpret” its scope, the official said.

“Businesses need to take into account the legal and reputational risk of doing business with Iran”, he said, speaking on condition of anonymity.

The official added that Italy had been identified by Washington as one of the countries with historic and current trade ties with Iran and pointed out that Tehran saw Italy as a possible “gateway” to Europe.

Italian oil major ENI, along with other foreign oil firms, should “convey to their partners in the oil sector that they are not going in now,” he said.

The US is engaged in “an ongoing effort to visit key partners to continue to ensure that the sanctions regime that has been built over the past 5-10 years remains robust, remains in place,” he said.

The international deal with Iran is due to come into force from January 20 and foresees the suspension of certain sanctions on gold and precious metals, Iran’s auto sector, and petrochemical exports.

It will also allow for safety-related repairs and inspections for some Iranian airlines, ease restrictions on oil shipping and unblock $4.2 billion (3.1 billion euros) from sanctioned Iranian oil sales.

Latest news

Land Subsidence in Critical Conditions in Isfahan

Mehdi Toghyani, a member of the Iranian regime’s Majlis (parliament), pointed to the occurrence of land subsidence in various...

Iran’s Actual Inflation Rate Higher Than Official Stats

The state-run Donya-e-eqtesad newspaper, in a report analyzing the "general sentiment" regarding inflation in 2023, has stated that households...

Iranian Workers’ Monthly $136 Wages Can’t Cover $500 Expenses

The lives of a significant portion of the Iranian population are marked by uncertainty, largely because the Iranian economy...

Iranian Nurses Earn Twice Their Wages in Ride-Hailing Services

Reza Aryanpour, a member of the regime’s Majlis (parliament) Health and Treatment Commission, highlighted the growing trend of nurses...

Iran: Unprecedented Record of 152 Million Liters of Gasoline Consumption Per Day

On March 19, Iran set a new historical record in gasoline consumption with 152 million liters consumed in one...

Iran’s Youths Have Highest Unemployment Rate

The Iranian regime’s Eghtesad News website reported that data from the Statistical Center of Iran shows that the youth...

Must read

Political uncertainty brings jitters to Iran markets

Iran Focus: Tehran, Iran, Jul. 21 – The Tehran...

Pompeo Seeks to Build Anti-Iran Coalition

By Pooya Stone US Secretary of State Mike Pompeo...

You might also likeRELATED
Recommended to you