sunny.png
Tuesday November 12th, 2019 5:09PM

Closed bank, mothballed planes: Iran mocks US sanctions list

By The Associated Press

TEHRAN, Iran (AP) — The "largest-ever" U.S. sanctions list targeting Iran drew mockery from Iranian officials on Tuesday for including mothballed Boeing 747s, a bank that closed years earlier and a sunken oil tanker that exploded off China months ago.

However, the new list of sanctions, which also aims to cut Iran's vital oil industry off from international sales, also included for the first time its state airline and its atomic energy commission, further highlighting the maximalist approach of President Donald Trump's administration.

Trump pulled America out of the 2015 nuclear deal Iran struck with world powers in May. United Nations monitors say Iran still abides by the deal, in which it agreed to limit its uranium enrichment in return for the lifting of international sanctions.

The U.S. Treasury Department imposed penalties on more than 700 Iranian and Iranian-linked individuals, entities, aircraft and vessels in the new sanctions. Among those are 50 Iranian banks and subsidiaries, and more than 200 people and ships.

However, scattered among the list are surprising entries, like the crude oil tanker Sanchi. That vessel collided with a bulk freighter and caught fire off China's east coast in January, killing all 32 sailors aboard.

Another entry was Iran's Tat Bank, which closed in 2012.

Foreign Minister Mohammed Javad Zarif took to Twitter to mock some of the targets of the sanctions, describing it as a "desperate" psychological ploy.

"The U.S. designated a bank that was closed 6 years ago, and a ship that sank . in a widely televised saga," he wrote, ending the tweet with "(hashtag)USisIsolated."

But for the first time, the United States targeted Iran Air. It also sanctioned the state carrier's mothballed fleet of Boeing 747s, which were manufactured in the 1970s.

It also appeared that the U.S., in another first, was directly sanctioning the Atomic Energy Organization of Iran, the government agency that oversees Iran's nuclear program. Prior sanctions targeted specific subsidiaries of the organization.

Eshaq Jahangiri, President Hassan Rouhani's senior vice president, also criticized the sanctions.

"Americans think their list is more effective if it is longer," Jahangiri said, according to the state-run IRNA news agency. He said he had discussed the list with other officials, with many saying it was "less than what we expected."

Still, Jahangiri warned that "Americans intend to damage economy of the country" through psychological warfare.

Zarif later issued an online video criticizing America's "indiscriminate assault" on his country.

"The U.S. administration appears to believe that imposing illegal draconian sanctions on Iran will bring about such pain to our nation that it will force us to submit to its will, no matter how absurd, unlawful or fundamentally flawed its demands are."

Zarif urged America to re-examine its "catastrophes" in the Mideast, including its support for Saudi Arabia and Israel.

Iran is already in the grip of an economic crisis. Its national currency, the rial, now trades at 150,000 to one U.S. dollar; a year ago, it was about 40,500. The economic chaos sparked mass anti-government protests at the end of last year, resulting in nearly 5,000 reported arrests and at least 25 people being killed.

Sporadic smaller demonstrations still reportedly erupt from time to time.

The new sanctions particularly hurt Iran's vital oil industry, which provides a crucial source of hard currency. U.S. Secretary of State Mike Pompeo said the sanctions already had cost Iran the sale of over 1 million barrels of crude oil a day.

Analysts feared in the run-up to the sanctions that global oil prices could spike on tight supply and increasing demand. However, the Trump administration allowed some of its allies — Greece, India, Italy, Japan, South Korea, Taiwan and Turkey — as well as rival China to continue to purchase Iranian oil as long as they work to reduce imports to zero. The price of benchmark Brent crude has dropped from over $80 a barrel in recent days.

During a visit to Madrid on Tuesday, Russian Foreign Minister Sergei Lavrov said the U.S. decision to re-impose sanctions on Iran was "not legitimate" and that the rest of the parties to the 2015 nuclear deal abandoned by Washington are working to make economic cooperation with Tehran possible.

Lavrov's remarks were Russia's first reaction to Washington's new list of sanctions against Iran. The Russian diplomat said the sanctions go against international law and practices, and that the U.S. "policies of issuing an ultimatum and making unilateral moves are unacceptable these days."

___

Associated Press writer Aritz Parra in Madrid contributed to this report.

  • Associated Categories: Associated Press (AP), AP National News, AP Online National News, Top General short headlines, AP World News, AP Business, AP Business - Economy, AP Business - Industries, AP Business - Utilities
© Copyright 2019 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Williams runs wild, Texas A&M routs NC State 52-13 in Gator
Trayveon Williams ran for 236 yards and three touchdowns, smashing a 30-year-old school record and carrying No. 21 Texas A&M to a 52-13 victory against beat North Carolina State in the Gator Bowl
11:09PM ( 2 months ago )
Harden's 43 points, triple-double lead Rockets over Memphis
James Harden had a triple-double of 43 points, 10 rebounds and 13 assists to lead the Houston Rockets to their fifth straight win, 113-101, over the Memphis Grizzlies on Monday night
10:53PM ( 2 months ago )
Deadline passes without Russian turnover of data to WADA
Deadline passes without Russian turnover of data, samples to WADA
10:43PM ( 2 months ago )
Associated Press (AP)
US stocks end dismal, volatile year on a bright note
Wall Street closed out a dismal, turbulent year for stocks on a bright note Monday, but still finished 2018 with the worst showing in a decade.
9:52PM ( 2 months ago )
Hello, 2019: Revelry, reflection mark transition to new year
Goodbye, 2018: Revelry, reflection mark the transition to a new year
9:50PM ( 2 months ago )
Broncos fire Vance Joseph after 11-21 mark over 2 years
Broncos fire coach Vance Joseph after back-to-back seasons of double-digit losses
9:50PM ( 2 months ago )
AP National News
Elizabeth Warren takes big step toward 2020 presidential bid
Sen. Elizabeth Warren is taking the first major step toward running for president
7:34PM ( 2 months ago )
Louis C.K. mocks Parkland students in audio of stand-up set
Audio has emerged of Louis C.K. apparently mocking the students-turned-activists from the Parkland, Florida, school shooting
6:53PM ( 2 months ago )
Elizabeth Smart kidnapper living near elementary school
A woman who helped kidnap Elizabeth Smart is living several blocks from a Salt Lake City elementary school following her release from prison in September
6:48PM ( 2 months ago )
AP Online National News
Markets Right Now: Stocks end dismal year on a bright note
The stock market ended a miserable year on a positive note but still closed out 2018 with its worst showing in a decade.
4:16PM ( 2 months ago )
Vatican spokesman, deputy resign amid crisis period for pope
The Vatican spokesman, Greg Burke, and his deputy resigned suddenly Monday amid an overhaul of the Vatican's communications operations that coincides with a troubled period in Pope Francis' papacy
3:51PM ( 2 months ago )
Timetable of Trump's pullout from Syria being questioned
President Donald Trump complains by tweet that he's getting "bad press" for his decision to pull American troops out of Syria
3:41PM ( 2 months ago )
Top General short headlines
Taiwan's Tsai says Taiwanese want to maintain self-rule
Taiwan's leader says that the people of her island want to maintain self-rule despite recent electoral gains by the Beijing-friendly opposition party
9:18PM ( 2 months ago )
Van slams into pedestrians on Tokyo road, injuring 8 people
Police said a minivan slammed into pedestrians on a street where people had gathered for New Year's festivities in downtown Tokyo, injuring 8 people
8:59PM ( 2 months ago )
France: Festive celebration in Paris; Macron defends agenda
Hundreds of thousands of people have celebrated New Year's Eve on Paris' Champs-Elysees avenue in a festive and joyful atmosphere amid heavy security
6:49PM ( 2 months ago )
AP World News
Ivanka Trump plans global women's economic development push
White House adviser Ivanka Trump is set to launch a wide-ranging effort aimed at women's global economic empowerment in early 2019
6:04PM ( 2 months ago )
US stocks hold modest gain on final day of volatile year
Stocks are moving higher as Wall Street draws closer to ending the final day of trading in a volatile year
3:53PM ( 2 months ago )
Grand Canyon celebrates 100 years as a national park in 2019
The Grand Canyon will be celebrating 100 years as a national park in 2019
3:20PM ( 2 months ago )
AP Business
China factory activity shrinks for the first time in 2 years
China factory activity falls amid tariff fight, economic downturn
11:25AM ( 2 months ago )
US stocks snap higher on hopes of US-China trade resolution
U.S. stocks are climbing in early trading as hopes grow for progress in resolving trade frictions between the U.S. and China
10:29AM ( 2 months ago )
World stocks rise on last day of turbulent year
Stock markets turn higher on last day of a volatile year after U.S. President Donald Trump says he expects to resolve trade friction with China.
8:54AM ( 2 months ago )
AP Business - Economy
Boy whose Yemeni mom fought US travel ban to see him dies
A 2-year-old boy whose Yemeni mother fought the Trump administration's travel ban to see her son again has been buried a day after he was taken off life support at a California hospital
8:15PM ( 2 months ago )
Lampert's hedge fund makes last-minute bid to save Sears
Sears Chairman Eddie Lampert's hedge fund says it submitted a last-minute bid valued at $4.4 billion to keep the struggling retailer from being liquidated
11:46AM ( 2 months ago )
Lampert's hedge fund says bid submitted to save Sears
Sears Chairman Eddie Lampert's hedge fund says it submitted a last-minute bid valued at $4.4 billion to keep the struggling retailer from being liquidated
1:03AM ( 2 months ago )
AP Business - Industries
More volatility: US stocks wobble on another turbulent day
U.S. stocks wavered between small gains and losses Friday, struggling to maintain the momentum from a two-day winning streak following a week of volatile trading
3:47PM ( 2 months ago )
More volatility: US stocks extend gains after early wobble
U.S. stocks are rebounding after an early wobble, building on gains from a two-day winning streak in a week of volatile trading
2:38PM ( 2 months ago )
US stocks slide, erasing early gains as oil price falls
U.S. stocks are veering lower, giving back early gains as the market continues to be gripped by volatile trading
11:36AM ( 2 months ago )
AP Business - Utilities
Lightning top Coyotes 4-1 to clinch Presidents' Trophy
Steven Stamkos scored his 36th goal of the season and the Tampa Bay Lightning clinched the Presidents' Trophy with a 4-1 victory over the Arizona Coyotes. The Lightning, who have 116 points, will have home-ice advantage throughout the Stanley Cup playoffs
12:12AM ( 18 minutes ago )
Ardern vows to deny accused mosque gunman notoriety he seeks
New Zealand's prime minister is vowing to block any attempt at self-promotion by the white supremacist accused of killing 50 people in mosque shootings, after he dismissed his lawyer and opted to represent himself in court
11:47PM ( 44 minutes ago )
Nuggets clinch playoff berth with 114-105 win over Celtics
Nikola Jokic scores 21, Nuggets rally to beat the Boston Celtics 114-105, clinch playoff berth
11:14PM ( 1 hour ago )
SEC says Musk's contempt defense 'borders on the ridiculous'
U.S. securities regulators are fighting back against Tesla CEO Elon Musk, arguing that he should be held in contempt for brazenly violating a federal court order
10:59PM ( 1 hour ago )
Spurs extend streak to 9 straight, beat Warriors 111-105
DeMar DeRozan had 26 points and nine rebounds, LaMarcus Aldridge added 23 points and 13 rebounds and the San Antonio Spurs beat the Golden State Warriors 111-105 for their ninth straight win
10:51PM ( 1 hour ago )