Sanctions noose tightens on Iran

A man takes a glance at a newspaper with a picture of US president Donald Trump on the front page in this July 31, 2018 photo. Iran has been gripped by protests countrywide amid an economic crisis that is expected to worsen as economic sanctions by the US take effect Monday, August 6, 2018. (AFP/ATTA KENARE)
Updated 06 August 2018
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Sanctions noose tightens on Iran

  • New penalties begin today ... with more to follow in November 
  • Trump withdrew US support for a 2015 deal under which sanctions would be lifted in return for curbs to Iran’s nuclear program

LONDON: Iran is staring into the economic abyss as the US today restores crippling sanctions that have already sparked protests countrywide and sent the value of the Iranian rial tumbling.

The US Treasury Department’s new sanctions are wide-ranging and block Tehran from acquiring US dollars, and trading in gold and other precious and industrial metals. 

They also cover the automotive sector and debt markets — effectively preventing the country from seeking relief at home by raising international capital. The measures even extend to the sale of pistachio nuts and Persian rugs. Further sanctions targeting the banking and energy sectors will follow on Nov. 4.

US Secretary of State Mike Pompeo said Iran had treated its people “very poorly” as he wrapped up a three-day trip to Southeast Asia in Indonesia.

“President Trump has always said he is prepared to talk, but it’s important that Iran has to be committed to changing its ways in order for those discussions to prove of any value,” he said.

The crisis has led to protests around the country demanding regime change. Iranians complain that they face economic deprivation while their government squanders cash on military adventures in Lebanon, Syria and Yemen. 

Iran has witnessed angry protests over the past week over rampant inflation that is being made worse by the weakening of the Iranian currency.

Footage posted online showed people in Tehran shouting: “Death to the dictator,” in a reference to supreme leader Ayatollah Ali Khamenei.

President Donald Trump announced in May that the US was withdrawing from an international accord struck in 2015 under which sanctions would be lifted in return for curbs to Iran’s nuclear program.

Meanwhile corporations have been racing to finalize deals before sanctions resumed and Iran bought five new commercial planes on Sunday. The ATR72-600 aircraft are made by a company jointly owned by European consortium Airbus and Italy’s Leonardo.

Tensions have risen in the Arabian Gulf and the Islamic Revolutionary Guard Corps confirmed on Sunday they had held war games in the region in recent days. A US military spokesman said they had detected increased Iranian naval activity in the Gulf. 

 


Explosion targets a tourist bus, injures at least 17 near Cairo’s Great Pyramids: Security sources

Updated 19 May 2019
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Explosion targets a tourist bus, injures at least 17 near Cairo’s Great Pyramids: Security sources

  • There were no reports of deaths
  • One security source said they included South African nationals

CAIRO: An explosion targeting a tourist bus injured at least 17 people near a new museum being built close to the Giza pyramids in Egypt on Sunday, two security sources said.

The sources said that most of the injuries were foreign tourists, with some social media users posting pictures of a damaged bus and what looked like injured tourists.

One security source said they included South African nationals.

There were no reports of deaths. A witness, Mohamed El-Mandouh, told Reuters he heard a "very loud explosion" while sitting in traffic near the site of the blast.

Pictures posted on social media showed a bus with some of its windows blown out or shattered, and debris in the road next to a low wall with a hole in it.

It is the second to target foreign tourists near the famed pyramids in less than six months. In December, three Vietnamese tourists and an Egyptian guide were killed and at least 10 others injured when a roadside bomb hit their tour bus less than 4 kilometres from the Giza pyramids. 

Egypt has battled militants for years in the Sinai Peninsula in an ongoing insurgency that has occasionally spilled over to the mainland, which often targets minority Christians or tourists.

The attack comes as Egypt's vital tourism industry is showing signs of recovery after years in the doldrums because of the political turmoil and violence that followed a 2011 uprising that toppled former leader Hosni Mubarak.

(With Agencies)