Economy News Baghdad:
US Secretary of State Mike Pompeo said sanctions against Iran would lead to a decline in its economy .
In a joint press conference with Treasury Secretary Stephen Manuchein, Pompeo said sanctions were aimed at the oil and banking sectors to “persuade the Iranian regime to change its behavior and reach a new nuclear deal .”
Pompeo has identified eight countries exempt from US sanctions on Iran “temporarily” – China, Greece, India, Italy, Turkey, South Korea, Taiwan and Japan – adding that his country would persuade the countries to stop dealing with Tehran .
The US minister pointed out that his country’s goal of sanctions is to pressure Iran to reduce its destabilizing role in the region and the world, stressing the continuation of pressure relentlessly .
He added: “We will not allow the transfer of funds received by Iran for humanitarian purposes to military objectives,” adding: “The Iranian regime has two options: either change its behavior in the region, or see the economy collapses .”
“Iran will not be able to obtain nuclear weapons as long as Trump remains president, “Pompeo stressed .
Treasury Secretary Stephen Manuchen said: “Sanctions have been imposed on more than 900 targets linked to Iran in less than two years .”
He added: “The sanctions on Iran include shipping sectors, Iranian Airlines, and financial institutions .”
He called on the US Treasury Secretary “Iran to abandon its missile program and nuclear ambitions, to obtain exemptions from sanctions .”
In May, US President Donald Trump withdrew from a nuclear deal signed by world powers with Iran in 2015 and re-imposed a first package of sanctions against Iran in August .
The most prominent sectors that will be subject to sanctions include: ports and shipping companies related to the ship sector, and transactions related to the oil industry, which include the National Iranian Oil Company, the Commercial Oil Company and the National Oil Tanker Company .
Transactions of foreign financial institutions with the Central Bank of Iran and any other financial institution are subject to the US sanctions list, which means a global ban on supplying Tehran with hard currency .
The sanctions targeted at the most important resources of the Iranian government, at a time when Iran is experiencing a severe economic crisis, was the loss of the Iranian riyal about 70% of its value against the dollar since last April .
The forecasts of economic institutions and oil companies to drop Iranian oil exports by about one million barrels per day, but for months announced the President of the OPEC countries, led by Saudi Arabia, its ability to compensate for any shortage in the global market.