US Warns Trading Partners About Doing Business With Iran

August 7, 2018 Share Print 0

Donald Trump has warned America’s trading partners that anyone who does business with Iran will not be doing business with the US, after his administration reimposed blanket sanctions.

The US president described the new sanctions, which hit Iran’s access to dollars, gold and precious metals, as “the most biting ever imposed”.

“In November they ratchet up to yet another level,” he tweeted. “Anyone doing business with Iran will NOT be doing business with the United States. I am asking for WORLD PEACE, nothing less!”

Within hours of the sanctions taking effect, the German carmaker Daimler, which announced a joint venture in Iran last year, said it was halting its business activities in the country.

The punitive measures came into force in the early hours of Tuesday, and follow Trump’s decision in May to renege on the landmark 2015 deal to curtail Iran’s nuclear ambitions.

via The Guardian

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Alfonso Esparza

Senior Currency Analyst at Market Pulse

Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.