Iran files suit in global court against U.S. over sanctions

22 Julio, 2018, 08:13 | Author: Kelly Blake
  • Iran files suit in global court against U.S. over sanctions

The European Investment Bank's (EIB) global operations would be put at risk if it were to invest in Iran, its president said on Wednesday, casting doubt on the EU's ability to deliver on its pledge to save a nuclear deal with Tehran that Washington has abandoned.

Meanwhile, Iran has called on the UN's top court to order the United States to immediately lift the re-imposed sanctions, claiming they are causing "irreparable prejudice", the tribunal said Tuesday. That deal saw most worldwide sanctions on Tehran lifted in exchange for strict but temporary restrictions on Iran's nuclear work.

"India's bilateral relations with Iran stand on their own and are not influenced by India's relations with any third country", he informed the Lok Sabha, indicating that India intends to continue all aspects of bilateral ties with Iran, despite pressure from the U.S.

In his announcement, the U.S. president said the accord would not prevent Iran from acquiring nuclear arms and he therefore was exiting the agreement and reimposing sanctions.

As the threat of looming USA sanctions hangs over Iran, Iranian foreign minister Javad Zarif, who was the chief Iranian negotiator in the Joint Comprehensive Plan of Action (JCPoA) has urged the European Union to step up their actions in line with the commitments made to the Iranians to counter the looming sanctions.

Nuclear-related sanctions will be reimposed by Washington in two phases in August and November, seeking to bar European and other foreign companies from doing business with Iran and blocking its oil sales overseas.

We will remind, on may 30 it was reported that the United States expanded sanctions against Iran. Turkey seems to be standing strongly by Iran's side as the USA plans to isolate Iran economically.

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Zarif addressed world diplomats and Iranian businessmen at a lavish Tehran hotel on Monday night, in a meeting designed as a show of continued mutual support in the face of the United States move.

That pullout in particular prompted the biggest fissure between America and its natural allies in Europe in contemporary history, and the Old Continent began to attempt to offset the impact of the U.S. withdrawal initially by giving verbal assurances to Iran that it remained committed to the deal and then by taking the unprecedented step to activate a European law - known as the "blocking statute" - that seeks to protect European businesses against the US's secondary sanctions.

The ICJ, which is based in The Hague and is also known as the World Court, is the United Nations tribunal for resolving worldwide disputes.

The other signatories have scrambled to save the accord, arguing it offers the best way to stop Iran from developing a nuclear bomb.

In the biggest blow yet to EU efforts, U.S. Secretary of State Mike Pompeo wrote to EU foreign policy chief Federica Mogherini this month rejecting a request for carve-outs for European companies, although she played down its importance on Monday and said that EU work would continue.

While the European Union has agreed to add Iran to the list of countries with which the Luxembourg-based EIB does business from August, a spokesman for the EU executive said the change "does not force the EIB to begin lending".

The ICJ was set up in 1946 to rule in disputes between countries.

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