US sanctions will increase Iran’s financial hardships

According to the Trump Administration announcement, the US ban against Iran has come into effect on 12.12pm on Monday. Under most sanctions, most trade relations with Iran will be considered illegal. In addition to trade in all kinds of dollars and precious minerals in the dollars, it will also impose carpets or dry food from Iran under this ban. Likewise, all licenses previously issued for sale of a commercial aircraft to Iran will be canceled.

The restriction on Iran was lifted on the basis of the agreement that the United States and five other countries signed with the country on the condition of postponement of Iran’s nuclear program in 2015. According to the promise of his election campaign, Trump came out of the contract solely in May this year. At that time, Trump had said that in addition to permanent closure of Iran’s nuclear program, economic sanctions would be restored to prevent its support for terrorist activities.

Iran’s economy has been going through a period of turmoil for a long time. This situation has become more complicated due to the fall in oil prices. Two years ago, the country had got a chance to give up a lot due to the withdrawal of the ban. Now, due to the restriction of new restrictions, the country could be in dire straits. The Iranian real price has fallen by almost 50 percent due to the fear that the ban could be imposed. The prices of essential commodities have increased. The standard of living has long been downgraded If the situation is further deteriorated, then the political crisis will be condensed, that is, Iranians are now openly speaking.

The United States conservatives, the United States Conservatives, disappointed the European Union (EU), while pleading many Arab countries against Israel and Iran. The European Union, France, Germany and the United Kingdom say they are determined to maintain trade relations with Iran. The EU said, in view of the US decision, they will introduce a ‘barrier section’ of this organization, under which measures can be taken to protect European companies from US crusade. Eprothomalo

It is not as easy as making the counter-action as it is said to be in return. The European companies are not ready to lose the US market just because of the lure of the Iranian market. European manufacturers are largely dependent on the United States for commercial goods and equipment. At least 10 percent of most European aircrafts are manufactured in the United States, all of which will be covered under this sanctions.

Iran is, however, hopeful that in addition to EU, China and Russia, and partly India, will stand beside them to overcome the dire damaging effects of this ban. Iran has taken steps to establish close relations with these countries for several years. Iran’s main export-oriented oil China and India, both countries have imported oil from Iran in the last few years. Since the Obama government withdrew its sanctions on Iran in 2016, the two countries have become the main importer of Iranian oil.

India hopes that if there is a close relationship with Iran, it will bring benefits to the sugarcane. To that end, they have signed contracts for huge financial investment for the development of the trade port of Iran. Indian policy makers hope that India will be able to build trade relations with Afghanistan after Pakistan starts the port.

Russia is also interested in long-term economic with Iran. During a visit to Beijing in 2016, Russian President Putin signed a multilateral trade agreement with China. Welcoming the agreement, the two parties said that they are not only interested in expanding relations in trade, they want ‘Friendship for Life’.

As a side effect of US sanctions, global oil prices may increase. As one of the world’s major energy exporters, it will open additional doors for additional profit for Russia. A Russian energy expert told News Wiki, which is a loss for Iran, it’s a profit for Russia.