PARIS: The United States will re-establish sanctions against Iran progressively, kicking off with the automobile and civil aviation sectors, a source close to the French government said on Tuesday.

Energy and finance will follow, with companies facing punishment if they continue to do business with Iran, after US President Donald Trump withdrew from a landmark nuclear deal with Tehran.

Aug 6 will see the re-introduction of auto and civil aviation sanctions, according to the source. Sanctions in the energy sector, covering oil, gas and petro-chemicals, will follow on Nov 4.

“There will be the obligation to reduce imports of Iranian crude oil and, in more general terms, sanctions on any commercial operations and transactions of the [energy] sector with Iran,” the source said.

On the same day, sanctions will be extended to the financial sector with “a ban on transactions with a certain number of major financial actors, including the central bank” and on the use of messaging systems such as the international banking system Swift, the source said.

Attributions of so-called “General Licence H” allowing subsidiaries of US companies to deal with Iran will be revoked, the source said. Washington has given companies 90 to 180 days to wind up contracts with Iran and banned them from signing new ones, under threat of sanctions.

Published in Dawn, May 16th, 2018

Opinion

Editorial

Kurram atrocity
Updated 22 Nov, 2024

Kurram atrocity

It would be a monumental mistake for the state to continue ignoring the violence in Kurram.
Persistent grip
22 Nov, 2024

Persistent grip

PAKISTAN has now registered 50 polio cases this year. We all saw it coming and yet there was nothing we could do to...
Green transport
22 Nov, 2024

Green transport

THE government has taken a commendable step by announcing a New Energy Vehicle policy aiming to ensure that by 2030,...
Military option
Updated 21 Nov, 2024

Military option

While restoring peace is essential, addressing Balochistan’s socioeconomic deprivation is equally important.
HIV/AIDS disaster
21 Nov, 2024

HIV/AIDS disaster

A TORTUROUS sense of déjà vu is attached to the latest health fiasco at Multan’s Nishtar Hospital. The largest...
Dubious pardon
21 Nov, 2024

Dubious pardon

IT is disturbing how a crime as grave as custodial death has culminated in an out-of-court ‘settlement’. The...