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Marked 1 month 3 days ago onto U.S Sanctions on Iran - Procurement Resource

U.S Sanctions on Iran

Source: https://www.procurementresource.com/news-and-artilcles/us-sanctions-on-iran

The president of the United States , Donald Trump, had pledged to be tough on Iran during his presidential campaign. Since the time he became the President, Trump has stayed true to his words by reinstating the sanctions on Iran in 2018, making it an unfortunate year for the country. In May 2018, under the instructions of the President, the U.S. pulled out of the Joint Comprehensive Plan of Action which was signed with Iran and announced that the sanctions would return in two phases. The sanction related to the crude oil, which serves as Iran’s economic lifeline, was reintroduced towards the end of 2018. It is widely believed that the sanction could have been worse for business in Iran had the U.S. not granted waivers to eight significant importers like China, India and Japan, who account for the highest amount of Iranian crude oil. As the U.S. and Iran remain embroiled in controversies, economists, politicians and analysts are awaiting the latest developments before making critical business decisions.


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