Erdan Yalcin, professor of economics at the University of Applied Sciences in Constance, looks at what impact fresh US sanctions against Iran is expected to have. He believes such punitive measures make little sense.
The International Court of Justice has ruled that US sanctions on "humanitarian" goods must be dropped immediately. The US has contested the right of the court to intervene in matters between Washington and Tehran.
The EU's vow to keep trading with Tehran despite new US sanctions is causing further friction with Washington. The creation of a special purpose vehicle (SPV) will help facilitate payments between Iran and Europe.
The bill paves the way for Iran to join a UN convention to combat money laundering and the funding of terrorism. The Islamic Republic has been under pressure from signatories of the nuclear deal.
US President Trump has warned countries and companies against doing business with Iran. Although international support for the nuclear deal remains, Iran faces stark consequences after new US sanctions kick in.
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