Baku, Azerbaijan, Nov. 6
Trend:
Tehran has launched a plan to counter the negative effects of US oil sanctions, the First Vice-President of Iran Eshaq Jahangiri said Nov. 6, TASS reported.
He stressed that "it would be wrong to say that the sanctions do not affect the country."
“We are doing everything possible to reduce the negative effect of restrictive measures on our economy,” the Tasnim agency quoted Jahangiri as saying.
The vice-president noted that "the overcoming of the current difficulties is possible only through the interaction of the authorities with the population of the country." “We have a plan to counter the new sanctions,” he stressed.
On May 8, the US President Donald Trump announced Washington’s withdrawal from the Joint Comprehensive Plan of Action (JCPOA) - a deal that was concluded in 2015 and limited Tehran’s nuclear developments in exchange for the lifting of UN Security Council sanctions and unilateral restrictive measures imposed by the US and the EU.
Trump promised not only to return the previous sanctions, but also to introduce new ones, and in this connection, the State Department announced Washington’s intention to reduce to zero Iran’s revenues from oil exports.
The effect of the first part of the US sanctions was resumed on the night of August 7. These restrictive measures covered the automotive sector in Iran, trading in gold and a number of metals. The remaining sanctions, including those against the Iranian oil sector, entered into force on November 5.