U.S Sanctions Reimposed on Iran: EU, China and Russia remain stand firm for the deal
The United States of America’s decision to withdraw from the 2015 deal has completely made the bilateral relations between the country and Iran paralyzed. The leaders of both nations have engaged themselves in a bitter relationship over trade and twitter. The sanctions imposed on Iran to make compromise for its nuclear projects under the Trump administration has caused an unrest among all European and Asian companies working in Iran, as the President of the United States clearly mentioned in his tweet that any company doing business with Iran will not be allowed to do business with the US and that he asks for world peace.
The sanctions which are to take a different course in November have already resulted in European countries backing out as these companies cannot risk their relationship with the world superpower. Replying to Trump’s tweet, Iranian Foreign Minister Mohammad Javad Zarif said that this was US’s way of entering ‘unilateralism’ and that it’s not the first time the country has gone against world peace. Following the developments in the case, German’s Central Bank, The Deutsche Bundesbank blocked $400 million cash delivery to Iran following the sanctions. Germany has allowed the Iranian owned Trade Bank (EIH) which holds the aforementioned cash and Tehran wanted the money prior to the second wave of sanctions from the US.
However, amidst all the chaos China has agreed not to stop any trade with Iran as the countries share a deal over energy and it imports around $15 billion worth crude oil from Iran and will continue to do so even if the US moves ahead with the sanctions. The biggest highlight fundamental to the entire situation is when European Union’s High Representative for Foreign Affairs, Federica Mogherinihas vowed to save the deal and also pleaded the European Countries operating in Iran to continue although that jeopardizes the EU’s relationship with the United States.
The European Union, China and Russia continue to be the signatories of the Iran Deal and these countries stand strong against any ‘one-sided’ deal made by any international country.
*Arijita Sinha Roy is a Research Intern at The Kootneeti
The views and opinions expressed in this article are those of the author and do not necessarily reflect the views of The Kootneeti Team