Iran has continued efforts to respond to massive U.S. tariffs which are set to be implemented by November. Iran has filed a complaint to the International Court of Justice, asking them to overlook their case and potentially stop their abusive measures.
The procedure was announced by Iranian Foreign Minister Mohammad Javad Zarif on Twitter, where he stated:
Today Iran filed a complaint @CIJ_ICJ to hold US accountable for its unlawful re-imposition of unilateral sanctions. Iran is committed to the rule of law in the face of US contempt for diplomacy & legal obligations. It’s imperative to counter its habit of violating int’l law.”
The Iranian administration finds the fact that the U.S. announced the tariffs shortly after pulling out of the Iranian nuclear deal to be suspicious. The Iran deal terminated Iran’s nuclear program and lifted tariffs from countries involved in the deal, which allowed Iran to increase its sales of oil and gas across the world. The current sanctions proposed by U.S. Secretary of State Mike Pompeo directly contradict the promises that the Obama administration made after signing the Iran deal. The Obama administration guaranteed profit to countries that signed the Iran deal, as the Iranian market was practically unexplored at the time.
Pompeo not only announced tariffs, but proposed twelve necessary measures for a possible “new deal.” Iran has thus far shown no interest in this deal. The Trump administration remains positive that someday the U.S. will be contacted by Iran to create another deal.
U.S. tariffs will most likely affect some of Iran’s most integral production sectors, mainly related to energy and petrol. Iran has remained itself tough in face of U.S. threats, as the country’s officials have stated that they still intend to improve the Iranian economy and sell “as much [oil]” as they can. Responding to the White House’s optimism regarding a ‘new deal,’ Iran’s Foreign Ministry stated that Trump and his team will call Tehran pleading for a trade deal in the future.
Iran did attempt to withdraw funds from German banks in order to lessen the impact of planned U.S. tariffs on its industries, yet Chancellor Angela Merkel denied said withdrawals. Iranian banks were also asked to extend their loans and provide more access to public funds, yet they responded that they could not afford to face the U.S. sanctions.
The White House has not held back regarding its intentions. The Trump administration wishes to eliminate all possible Iranian oil-export relations and target any countries who wish to keep buying Iranian products. As oil is integral to Iran’s economy, a loss of oil sales would permanently weaken the country.
However, it is still unclear whether U.S. pressure will be successful or not, as the European Union seems to remain fully committed to the Iran deal. In fact, they recently implemented the “blocking statute” of the Iran deal, which would forbid EU firms from complying with U.S. sanctions. The statute will come into effect in early August, just before the first U.S. sanctions are applied.
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