Sanctions Against Iran

What Are The Sanctions Against Iran?

There are several sanctions imposed on Iran by many countries. The first sanctions against Iran are that after a group of radical students seized the American Embassy in Tehran and took the people hostage; It is the sanctions imposed in 1979. Sanctions were enforced by the Enforcement Order, which included approximately $ 12 billion of ice cream in Iranian assets, including bank deposits, gold, other properties, and a trade embargo lifted in January 1981 as part of the Algerian Agreements after the hostages were released. Later, the US imposed new sanctions against Iran. These sanctions prevented US-based oil companies from operating in Iran and provided a strong incentive to prevent US firms from operating there. Sanctions have arguably remained unchanged to follow basic strategic goals, including Iran's support for regional armed groups and missile development.

US Sanctions of IRAN

The United States imposes economic, commercial, scientific, and military sanctions against Iran. The Foreign Assets Control Office manages US economic sanctions. The US sanctions against Iran include the ban on the sale of aircraft and repair parts to the embargo and Iranian aviation companies in US relations with the country.

The first sanction to Iran takes place in 1979. These sanctions are enforced by the Executive Order, which includes approximately $ 12 billion of ice cream in Iranian assets, including bank deposits, gold, and other properties, and a trade embargo.

The USA's second sanctions were implemented in 1987 due to Iran's actions against the USA and other ships in the Persian Gulf from 1981-1987. Subsequently, the sanctions were expanded in 1995 to include companies dealing with the Iranian government.

The third sanction was implemented in December 2006, after Iran refused to comply with its decision to stop the uranium enrichment program. The EU brought additional sanctions to Iran in 2007 in response to concerns about Iran's nuclear program and human rights violations. These various sanctions targeted various aspects of Iran's commercial and public life, including oil, gas, petrochemical investments, refined petroleum products exports, and trade agreements with the Iranian Revolutionary Guards.

The fourth sanction of the USA came into force in November 2018. They aimed to force Iran to significantly change its policies in the region, including support for militant groups in the region and the development of ballistic missiles. New sanctions targeted the Iranian national bank.

BM Sanction of Iran

The UN Security Council took a series of decisions that imposed sanctions on Iran following the International Atomic Energy Agency's non-compliance with Iran's security agreement and the authority of the Board's Iran's nuclear activities. At the P5 + 1 in Switzerland on April 2, 2015, a 10-year temporary agreement was signed in a framework that would eliminate most of the sanctions against various restrictions on Iran's nuclear programs. The Joint Comprehensive Action Plan, the final agreement, was adopted on October 18, 2015. Later, most UN sanctions were lifted on January 16, 2016. This means that investors and entrepreneurs will begin to re-interact with Iran's global financial system.

In addition to all this, On February 21, 2020, Iran was put on the FATF blacklist.

You Might Also Like