• 2019-01-31

    When the Trump administration unilaterally pulled out of the Iran nuclear agreement in May 2018 and announced it would reimpose sanctions against Iran, the European Union (EU) declared its commitment to preserving the agreement and finding ways for its companies to circumvent U.S. sanctions. Now, eight months later, the, the Europeans finally announced the creation of INSTEX (Instrument In Support Of Trade Exchanges) as an alternative payment system so that European firms can do business with Iran. This mechanism might be too little and too late to salvage the Iran nuclear deal but it marks a milestone in an inevitable transition of epic proportions: the end of the global hegemony of the dollar. ...

  • 2019-01-31

    The European Union has announced the setting up of a payment mechanism to secure trade with Iran and skirt US sanctions after Washington pulled out of the landmark nuclear deal last May. The proposal of a financial instrument has been a key element in the EU's strategy to keep Iran from quitting the 2015 nuclear agreement, which was signed to prevent Tehran from building nuclear weapons in exchange for sanctions relief. …

  • 2018-11-07

    On November 5, further US sanctions on Iran went into effect and are expected to bring devastating consequences on the Islamic Republic and its people.  It is feared that women along with children and impoverished Iranians are most at risk. ...

  • 2018-11-01

    Since the new US embargo of Iran on Aug 6, at the MAHAK Pediatric Cancer Treatment & Research Center, parents ask questions every day about whether any drugs are available to treat their children, and whether they are genuine and not counterfeit. ... 

  • 2018-10-16

    The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) took action today against a vast network of businesses providing financial support to the Basij Resistance Force (Basij), a paramilitary force subordinate to Iran’s Islamic Revolutionary Guard Corps (IRGC).  Among other malign activities, the IRGC’s Basij militia recruits, trains, and deploys child soldiers to fight in IRGC-fueled conflicts across the region. This Iran-based network is known as Bonyad Taavon Basij, which is translated as Basij Cooperative Foundation, and is comprised of at least 20 corporations and financial institutions.  The Bonyad Taavon Basij employs shell companies and other measures to mask Basij ownership and control over a variety of multibillion-dollar business interests in Iran’s automotive, mining, metals, and banking industries, many of which have significant international dealings across the Middle East and with Europe.

  • 2018-10-04

    As the economic noose tightens on the Iranian economy, smugglers will thrive and the IRGC will be the first to profit.

  • 2018-10-04

    All unilateral sanctions by one country against others are flagrantly illegal. Under international law, Security Council members alone may impose them. The International Court of Justice (ICJ-World Court) preliminary ruling against the US is positive. It didn’t go far enough because on July 16, 2018, the Islamic Republic petitioned the ICJ for sanctions relief, claiming the Trump regime violated terms of their 1955 US-Iran Treaty of Amity, Economic Relations, and Consular Rights.

  • 2018-09-22

    On May 8, 2018, the USA withdrew from the Iran nuclear deal and reimposed a list of sanctions that target Iran’s economy and companies from third-party countries that continue to trade with Iran. Both US and non-US business partners have been winding down their economic activities in Iran. These sanctions will have a detrimental effect on the country’s viral hepatitis elimination programme. ...

  • 2018-08-28

    The United States has a long history of dominating international economic institutions and has been able to use that power in the past to control other governments and enrich its industries. At present, the United States is waging an economic World War targeting much of the world economy, including allies who refuse to comply with US mandates. ...

  • 2018-05-21

    The Trump administration’s new strategy on Iran essentially amounts to economic war. In a speech on Monday, Secretary of State Mike Pompeo vowed “unprecedented financial pressure in the form of the strongest sanctions in history” unless the Islamic Republic renounced all its nuclear activities, its ballistic-missile program, and its support of regional proxies. “The [Iranian] regime has been fighting all over the Middle East for years,” Pompeo said at the Heritage Foundation, a Washington, D.C., think tank. “After our sanctions come in force, it will be battling to keep its economy alive. Iran will be forced to make a choice: Either fight to keep its economy off life support at home or squander precious wealth on fights abroad. It will not have the resources to do both.”

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