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The sanctions are designed, in part, to force Iran’s main customers to stop buying its oil. However, the United States gave temporary exceptions to eight importers – China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea – allowing them to keep buying from Iran. Iraq has also been given an exemption, Brian Hook, the U.S cufflink appraisal uk sale. special representative for Iran, told reporters in a conference call, saying Iraq was working “on reducing Iran’s influence and opening Kirkuk, which would be another 200,000 barrels of oil.”..

In June Iran said that Baghdad and Tehran had begun exchanging crude oil. Crude from the Kirkuk field in northern Iraq is being shipped by truck to Iran. Tehran will use the oil in its refineries and will deliver the same amount of oil to Iraq’s southern ports, on the Gulf. The sanctions also cover 50 Iranian banks and subsidiaries, more than 200 persons and vessels in its shipping sector, Tehran’s national airline, Iran Air, and more than 65 of its aircraft, a U.S cufflink appraisal uk sale. Treasury statement said..

The administration said it had toughened the sanctions by roughly 300 new designations on individuals and entities, and targeted more subsidiaries of Iranian companies than before. European powers that continue to back the nuclear deal said they opposed the reapplication of sanctions and major oil buyer China said it regretted the move cufflink appraisal uk sale. Switzerland said it was holding talks with the United States and Iran about launching a humanitarian payment channel to help food and drugs keep flowing to Tehran..

U.S. sanctions permit trade in humanitarian goods such as food and pharmaceuticals but measures imposed on banks and trade restrictions could make such items more expensive as well as more difficult to pay for. The United States will allow non-proliferation civil nuclear work at Arak, Bushehr and Fordow in Iran “under the strictest scrutiny,” the State Department said on Monday. The Belgium-based SWIFT financial messaging service said it is suspending some unspecified Iranian banks’ access to its messaging system in the interests of the stability and integrity of the global financial system cufflink appraisal uk sale.

The head of Iran’s Central Bank, Abdolnassr Hemmati, said the country has taken necessary banking measures to continue trade after the U.S. move, Iranian state TV said. The European Union, France, Germany and Britain said they regretted the U.S. decision and would seek to protect European companies doing legitimate business with Tehran. Diplomats told Reuters last month that a new EU mechanism to facilitate payments for Iranian oil exports should be legally in place by Nov cufflink appraisal uk sale. 4 but not operational until early next year..