Iranian expert: New sanctions may be more serious than November ones (Exclusive)

Business Materials 26 November 2018 11:35 (UTC +04:00)

Baku, Azerbaijan, Nov. 26

By Elnur Baghishov - Trend:

Exclusion of four Iranian banks and financial institutions from the US sanctions package shows how cautious the US Treasury Department is, Iranian economy expert Mehrdad Emadi told Trend.

He said that if sanctions are imposed on all Iranian banks, a question can be raised in the UN, and even in the International Court of Justice in the Hague that the US is engaged in economic warfare against the Iranian people.

“As for the functioning of these four banks, they are small, so they will have little positive effect on Iran,” he noted. “Therefore, the US Treasury Department will control the exchange of cash in a more convenient way and will make it difficult for Iran to ensure its financial security.”

According to the economist, work is underway regarding at least two sanctions packages. In these packages, the US has planned to exert pressure on the Iranian economy from separate countries and regions, he noted.

“In my view, this can bring economic benefits to the US Treasury Department faster,” he said. “That is, the rise in inflation and its negative effects may be observed more frequently in Iran. Generally speaking, though these sanctions will be related to Iran, unfortunately, they will have negative effects on the global trade.”

Although Iran is still trying to evade the sanctions, the possibilities will be limited, he noted.

Given all this, the next sanctions packages may be more serious than the previous ones announced on Nov. 13, he added.