US sanctions on Iran are becoming effective from Monday. The broad impact of this bane can be found on the entire global scenario. However, 8 countries including the European Union and Iran have said that they will continue to trade with Iran. Many companies have stopped importing oil from Iran to avoid U.S. penalties.
US restrictions on Iran will be effective from today. Since the separation of Iran from a nuclear deal, the attitude of the Trump administration is very tough about Iran. The United States has threatened to not negotiate a trade agreement with Iran as well as to Western Asian and Islamic countries. Donald Trump has done many times to warn Western Asian countries of dire consequences if they cooperate with Iran.
What is this nuclear deal?
In the last term of former US President Barack Obama, this nuclear deal was struck between the US and Iran. This deal also includes permanent members of the Security Council like China, France, England and Russia. Apart from this, some temporary members of Germany also collaborate in this deal. The Obama administration had deal with Iran in 2015.
Trump wants to change every decision of the Obama administration
US President Donald Trump is seen in the rush to change every decision of his predecessor Obama administration. Like the NAFTA, Obama care and Paris Climate Agreement, Donald Trump has imposed new sanctions on Iran. Since the nuclear deal, such restrictions have been lifted on Iran. The Obama administration allowed trade in the food and pharmaceutical sector, allowing exemptions imposed on Iran.
What’s the change?
After the restrictions imposed on Iran by the Trump Administration, the world for this Asian country has been divided into two parts. In the past, the whole world supported the voiceless restrictions imposed on Iran due to non-prohibition of uranium enrichment programs. However, this time the situation is not so. The European Union has said in a tone of two terms that after the restrictions imposed by the Trump administration, business dealings with Iran will continue to be legally valid. There are eight countries, including India, who have announced to not end business relations with Tehran even after US sanctions. All these countries have said that if this type of ban was imposed on oil imports from Iran suddenly, then the global balance of crude oil prices will be disturbed.
What will be the impact on Iran after the sanctions?
Since the US ban, many companies have stopped importing oil with Iran to avoid heavy penalties. The Trump administration had warned the world that the countries that want to trade with Iran should remember that countries that make business relations with Tehran can not trade with the US. The effect of restrictions has also been seen on Iran now, there is a lack of necessary things. There is also talk of ending stock of essential medicines for survival. Even then, in Iran, the ruling party has given the signal of not kneeling in front of US sanctions.